The American General Motors, manufacturer of car brands Chevrolet, Buick, Cadillac and GMC, felt the pain of import duties in their own country last quarter. According to the company, the taxes ate 1.1 billion dollars (around 941 million euros) of the profit.
General Motors (GM) achieved a net profit of 1.9 billion dollars, 35 percent less than a year earlier. The car manufacturer points to the trade policy of US President Donald Trump. GM has factories in Mexico and Canada. These countries were given rates for exporting cars and parts to the United States.
The car manufacturer is also struggling with higher costs for imported steel and aluminum due to the taxes of Trump. For the whole of 2025, GM expects rates to cost 4 to $ 5 billion.
The Detroit company is currently investing billions to increase US production capacity. Increasing American production is exactly what Trump wants to achieve with the taxes.
GM wants to absorb at least 30 percent of import costs this year by, among other things, cost reductions and adjustments in production processes. At the beginning of May, the company already reduced the profit forecast for 2025 because of the taxes. The manufacturer does not change that prognosis.
GM’s turnover decreased by almost 2 percent last quarter to more than 47 billion dollars.
The American General Motors, Manufacturer of Car Brands Chevrolet, Buick, Cadillac, and GMC, Felt the Pain of Import Duties in its own country last Quarter. Accordance to the Company, the Duties Ate Up $ 1.1 Billion (About 941 Million Euros) of the Profit.
General Motors (GM) Posted a Net profit or $ 1.9 Billion, 35 percent less than a year earlier. The Car Manufacturer Points to the Trade Policy of American President Donald Trump. GM HAS Factories in Mexico and Canada. These Countries Were subjected to Tariffs on the Export of Cars and Parts to the United States.
Due to Trump’s Tariffs, The Car Manufacturer is also struggling with highher costs for imported steel and aluminum. For the whole of 2025, GM Expects The Tariffs to Cost 4 to 5 Billion Dollars.
The Company From Detroit is Currently Investing Billions to Increase American Production Capacity. Increasing American Production is Exactly What Trump Wants To Achieve With The Duties.
GM WIMS to ABSORB AT LEAST 30 percent of the import costs this year through cost reductions and adjustments in Production Processes, Among Other Things. The Company Already Lowered Its Profit Forecast for 2025 in Early May Because of the Tariffs. The Manufacturer is not changing that forecast.
GM’s Revenue Fell by Almost 2 percent Last Quarter to More Than 47 Billion Dollars.