(Detroit, MI) – General Motors is announcing three-billion-dollars in profit between April and June. Chief Financial Officer Paul Jacobsen says a dip in profit is primarily driven by a tariff impact of 1.1-billion dollars. The automaker adjusted their yearly earnings guidance in May due to tariffs and says they are on track to meet the lowered earnings projection of 10 to 12.5-billion dollars this year.
GM says they anticipate seeing an even larger impact over the next three months due to timing of indirect tariff costs.
Comments