GM quarterly core profit rises 30% on truck, SUV strength

By the Editorial Team · Wednesday, July 22, 2026

General Motors reported a 30 percent increase in core profit for Q2, driven by strong truck and SUV sales, leading the company to raise its full-year profit forecast to $14 billion–$16 billion. This growth occurred despite economic challenges and ongoing tariffs, with GM’s pricing strategies boosting North American profit margins even as overall sales declined.

General Motors reported a 30 percent increase in core profit for the second quarter, driven by strong sales of trucks and SUVs, leading the company to raise its full-year earnings forecast. The Detroit-based automaker announced quarterly earnings before interest and taxes of $3.9 billion, up from approximately $3 billion in the same period last year. Adjusted earnings per share came to $3.57, surpassing analysts’ expectations of $3.20.

Despite the broader economic challenges, including higher gasoline prices, ongoing inflation, and slowing job growth, GM’s solid pricing strategies helped drive strong sales in its largest market, North America. The region saw its profit margin increase to 8.6 percent from 6.1 percent the previous year, even though quarterly sales there declined by 4 percent.

GM raised its 2026 profit outlook to a range of $14 billion to $16 billion, up from its earlier forecast. The company had previously revised its outlook by $500 million to account for anticipated refunds linked to a U.S. Supreme Court decision that overturned certain tariffs imposed during the Trump administration. However, GM cautioned that ongoing tariffs and rising supply chain costs will continue to pressure earnings. The automaker maintained its forecast of a $2.5 billion to $3.5 billion earnings hit from tariffs and estimated that inflation in raw materials, semiconductors, and logistics would reduce profits by between $1.5 billion and $2 billion for the year.

Net income for the quarter declined 31 percent to $1.3 billion, primarily due to approximately $2.3 billion in restructuring expenses related to GM’s electric vehicle manufacturing operations. Overall revenue rose 2 percent to $48 billion.

Internationally, GM’s equity income from China, where the company is undergoing restructuring, increased modestly to $83 million from $71 million a year earlier. Excluding China, the automaker’s international core profit declined 7 percent to $190 million.

Despite the mixed results in various regions and the impact of ongoing costs, GM’s ability to surpass profit expectations and strengthen its outlook underscores the company’s resilience amid a volatile economic environment.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.