Oct 21 (Reuters) - General Motors ( GM ) raised annual
adjusted core profit forecast on Tuesday, betting that strong
demand for its pickup trucks and SUVs would help counter a hit
from U.S. tariffs and the end of a federal incentive for
electric vehicles.
The largest U.S. automaker by sales took a previously
disclosed $1.6 billion charge in the third quarter, as it
reshaped its EV strategy to better navigate a potential dent in
demand after the Trump administration scrapped a $7,500 federal
tax credit policy.
The company now expects 2025 adjusted core profit to be
between $12.0 billion and $13.0 billion, compared with its prior
estimate of $10.0 billion and $12.5 billion.
Revenue for the quarter ended September marginally fell to
$48.6 billion from a year earlier.
GM's second-quarter earnings had taken a $1.1 billion hit
from tariffs, while the automaker reiterated that trade
headwinds threatened to hit the bottom line by $4 billion to $5
billion this year.