The GM logo is seen on the China Headquarters in Shanghai, China, August 29, 2022. REUTERS
DETROIT, May 1 (Reuters) – General Motors (GM.N), cut its 2025 profit forecast on Thursday after receiving some clarity and reprieve from the White House this week on automotive tariffs.
CEO Mary Barra told shareholders in a letter that the company would maintain strong dialogue with the Trump administration on trade and other policies as they evolve.
The Detroit automaker released the new forecast two days after pulling a previous one issued in January that did not take into account the automotive tariffs, and after the Trump administration made changes them.
The automaker expects to notch an annual adjusted core profit between $10 billion and $12.5 billion, including a current tariff exposure of between $4 billion and $5 billion.
GM’s previous guidance for earnings before interest and taxes was between $13.7 billion and $15.7 billion.
It expects to earn an annual net income of between $8.2 billion and $10.1 billion, down its from prior range of $11.2 billion and $12.5 billion.
Reporting by Kalea Hall and Nathan Gomes; Editing by Arun Koyyur
