General Motors Company (GM)

General Motors shares rise after securing long-term Micron chip supplyJuly 1, 2026 9:35 AM
IH Market News GM strengthens semiconductor supply chain with Micron agreement Shares of General Motors (NYSE:GM) edged higher on Wednesday after the automaker unveiled a strategic partnership with Micron Technology (NASDAQ:MU) aimed at securing a long-term supply of memory and storage components for its vehicles. The Strategic Customer Agreement is designed to ensure GM has dependable access to the memory and storage technologies needed to support large-scale vehicle production, while addressing ongoing supply chain challenges facing the automotive industry. Agreement covers key memory technologies Under the deal, General Motors will source LPDRAM, NOR and UFS NAND memory products from Micron. The two companies will also work together on future memory and storage solutions for next-generation vehicle platforms, including system-level optimisation and the qualification of advanced memory technologies. The collaboration is intended to support increasingly sophisticated vehicle architectures as software and artificial intelligence become more deeply integrated into modern automobiles. Micron investment supports long-term production The agreement is backed by Micron’s $2 billion investment to upgrade its DRAM manufacturing facility in Manassas, Virginia, which began production earlier this year. The site is intended to provide greater supply stability and long-term product availability for automotive manufacturers, whose vehicle programmes typically span many years. AI-driven vehicles increase demand for advanced memory As vehicles become more software-defined, demand for high-performance memory and storage solutions continues to increase. These technologies play a critical role in supporting AI-powered in-cabin experiences, advanced driver assistance systems (ADAS) and other next-generation automotive features. “Delivering next-generation vehicles at scale requires a resilient and closely aligned supply chain,” said Mary Barra, Chair and CEO of General Motors. “Our expanded collaboration with Micron strengthens our access to critical memory technologies while enabling deeper integration across our vehicle platforms, supporting both performance and long-term reliability.” Part of Micron’s broader supply strategy Micron said the Strategic Customer Agreement is one of 16 similar long-term partnerships highlighted during its fiscal third-quarter 2026 earnings conference call. The company said the agreements form part of its broader strategy to improve supply continuity across the semiconductor industry by matching long-term customer demand with committed manufacturing capacity. General Motors stock price Micron Technology stock priceThe post General Motors shares rise after securing long-term Micron chip supply appeared first on US Editors. Original: General Motors shares rise after securing long-term Micron chip supply

GM releases 2026 first-quarter results, declares quarterly dividendApril 28, 2026 6:30 AM
PR Newswire (US)

DETROIT, April 28, 2026 /PRNewswire/ -- General Motors (NYSE: GM) today reported first-quarter 2026 revenue of $43.6 billion, net income attributable to stockholders of $2.6 billion, and EBIT-adjusted of $4.3 billion.The company is raising its full-year 2026 EBIT adjusted guidance due to a favorable adjustment of approximately $0.5 billion resulting from the U.S. Supreme Court decision regarding certain U.S. tariffs that were paid under the International Emergency Economic Powers Act. The company now expects gross tariff costs of $2.5 billion to $3.5 billion in 2026, down from the original estimate of $3.0 billion to $4.0 billion. 
Updated 2026 guidancePrevious 2026 guidanceNet income attributable to stockholders$9.9 billion - $11.4 billion$10.3 billion - $11.7 billionEBIT-adjusted$13.5 billion - $15.5 billion$13.0 billion - $15.0 billionAutomotive operating cash flow$16.8 billion - $20.8 billion$19.0 billion - $23.0 billionAdjusted automotive free cash flow$9.0 billion - $11.0 billion$9.0 billion - $11.0 billionEPS-diluted$10.62 - $12.62$11.00 - $13.00EPS-diluted-adjusted$11.50 - $13.50$11.00 - $13.00GM announced today that its Board of Directors has declared a quarterly cash dividend on the company's outstanding common stock of $0.18 per share, payable June 18, 2026, to holders of the company's common stock at the close of trading on June 5, 2026.An overview of quarterly results and financial highlights appears below. Visit the GM Investor Relations website to download the company's earnings deck and GM Chair and CEO Mary Barra's Letter to Shareholders.Conference call for investors and analystsMary Barra and GM Chief Financial Officer Paul Jacobson will host a conference call for the?investment community at 8:30 a.m. ET today to discuss these results.Conference call details are as follows:1-800-857-9821 (U.S.)1-517-308-9481 (international/caller-paid)Conference call passcode: General MotorsAn audio replay will be available on the GM Investor Relations website in the Events section.Results Overview
Three Months Ended

($M) except per share amountsMarch 31, 2026March 31, 2025Change% ChangeRevenue$    43,624$    44,020$       (395)(0.9) %Net income (loss) attributable to stockholders$     2,627$     2,784$        (157)(5.7) %EBIT-adjusted$     4,253$     3,490$        76421.9 %Net income margin6.0 %6.3 %(0.3) ppts(4.8) %EBIT-adjusted margin9.7 %7.9 %1.8 ppts22.8 %Automotive operating cash flow$      533$     2,404$       (1,871)(77.8) %Adjusted automotive free cash flow$     1,269$       811$        45756.4 %EPS-diluted$      2.82$      3.35$        (0.53)(15.9) %EPS-diluted-adjusted$      3.70$      2.78$       0.9233.0 %GMNA EBIT-adjusted$     3,661$     3,286$        37511.4 %GMNA EBIT-adjusted margin10.1 %8.8 %1.3 ppts14.8 %GMI EBIT-adjusted(a)$       123$       30$         94n.m.China equity income (loss)(a)$       165$       45$        120n.m.GM Financial EBT-adjusted$      688$      685$          40.5 %__________(a) n.m. = not meaningfulGeneral Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgment about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.Guidance ReconciliationsThe following table reconciles expected Net income attributable to stockholders to expected EBIT-adjusted (dollars in billions):
Year Ending December 31, 2026
Updated(a)
PreviousNet income attributable to stockholders$ 9.9-11.4
$ 10.3-11.7Income tax expense2.6-3.1
2.6-3.2Automotive interest expense, net0.0
0.1Adjustments1.0
—EBIT-adjusted$ 13.5-15.5
$ 13.0-15.0__________(a)Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details. These expected financial results do not include the potential impact of future adjustments related to special items.The following table reconciles expected EPS-diluted to expected EPS-diluted-adjusted:
Year Ending December 31, 2026
Updated(a)
PreviousDiluted earnings per common share$ 10.62-12.62
$ 11.00-13.00Adjustments0.88
—EPS-diluted-adjusted$ 11.50-13.50
$ 11.00-13.00__________(a)Refer to the reconciliation of diluted earnings per common share to EPS-diluted-adjusted for adjustment details. These expected financial results do not include the potential impact of future adjustments related to special items.The following table reconciles expected automotive net cash provided by operating activities to expected adjusted automotive free cash flow (dollars in billions):
Year Ending December 31, 2026
Updated(a)
PreviousNet automotive cash provided by operating activities$ 16.8-20.8
$ 19.0-23.0Less: Capital expenditures10.0-12.0
10.0-12.0Adjustments2.2
—Adjusted automotive free cash flow$ 9.0-11.0
$ 9.0-11.0__________(a) These expected financial results do not include the potential impact of future adjustments related to special items. General Motors Company and Subsidiaries1Combining Income Statement Information(In millions) (Unaudited) 
Three Months Ended March 31, 2026
Three Months Ended March 31, 2025
Automotive
GM
Financial
Reclassifications/
Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
CombinedNet sales and revenue
















Automotive$ 39,349
$     —
$                —
$ 39,349
$ 39,860
$        1
$     —
$               —
$ 39,861GM Financial—
4,276
(1)
4,275
—
—
4,164
(5)
4,159Total net sales and revenue39,349
4,276
(1)
43,624
39,860
1
4,164
(5)
44,020Costs and expenses
















Automotive and other cost of sales35,027
—
1
35,028
35,029
163
—
(1)
35,191GM Financial interest, operating, and other expenses—
3,602
(1)
3,601
—
—
3,491
—
3,491Automotive and other selling, general, and administrative expense2,070
—
(1)
2,069
1,874
111
—
—
1,985Total costs and expenses37,097
3,602
(1)
40,698
36,903
274
3,491
(1)
40,668Operating income (loss)2,252
675
—
2,926
2,957
(273)
673
(4)
3,352Automotive interest expense158
—
—
158
152
30
—
(29)
152Interest income and other non-operating income, net307
—
—
307
334
2
—
(25)
310Equity income (loss)258
14
—
272
50
—
12
—
62Income (loss) before income taxes$   2,658
$   688
$                —
$   3,347
$   3,188
$  (301)
$   685
$                —
$   3,572Income tax expense (benefit)





642








719Net income (loss)





2,705








2,853Net loss (income) attributable to noncontrolling interests





(78)








(69)Net income (loss) attributable to stockholders





$   2,627








$   2,784

















Net income (loss) attributable to common stockholders





$   2,614








$   3,361________1 Certain columns and rows may not add due to rounding. General Motors Company and Subsidiaries1Basic and Diluted Earnings per Share(Unaudited)


The following table summarizes basic and diluted earnings per share (in millions, except per share amounts):



Three Months Ended

March 31, 2026
March 31, 2025
Basic earnings per share



Net income (loss) attributable to stockholders$                                               2,627
$                                               2,784
Adjustments(a)(13)
577
Net income (loss) attributable to common stockholders$                                               2,614
$                                               3,361





Weighted-average common shares outstanding911
988





Basic earnings per common share$                                                 2.87
$                                                 3.40
Diluted earnings per share



Net income (loss) attributable to common stockholders – diluted$                                               2,614
$                                               3,361





Weighted-average common shares outstanding – diluted926
1,002





Diluted earnings per common share$                                                 2.82
$                                                 3.35
Potentially dilutive securities(b)3
4
__________(a) Includes a $593 million return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the three months ended March 31, 2025.(b) Potentially dilutive securities attributable to Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) at March 31, 2026 and outstanding stock options, PSUs, and RSUs at March 31, 2025 were excluded from the computation of diluted earnings per share (EPS) because the securities would have had an antidilutive effect. General Motors Company and Subsidiaries1Combining Balance Sheet Information(In millions, except per share amounts) (Unaudited) 
March 31, 2026
December 31, 2025
Automotive
GM
Financial
Reclassifications/
Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
CombinedASSETS
















Current Assets
















Cash and cash equivalents$   14,670
$  5,130
$                 —
$   19,800
$   15,062
$      56
$  5,826
$                 —
$   20,945Marketable debt securities4,558
59
—
4,618
6,685
—
39
—
6,724Accounts and notes receivable, net(a)15,501
1,560
(679)
16,381
12,199
76
1,506
(727)
13,054GM Financial receivables, net(b)—
44,130
(379)
43,751
—
—
45,661
(395)
45,266Inventories15,593
—
(4)
15,590
14,472
—
—
(5)
14,467Other current assets3,239
5,734
8
8,981
3,167
9
5,130
6
8,312Total current assets53,562
56,613
(1,054)
109,121
51,585
141
58,162
(1,120)
108,767Non-current Assets
















GM Financial receivables, net—
43,724
—
43,724
—
—
44,384
—
44,384Equity in net assets of nonconsolidated affiliates4,833
1,144
—
5,978
4,564
—
1,117
—
5,681Property, net 52,038
128
—
52,166
51,458
99
126
—
51,683Goodwill and intangible assets, net 2,986
1,349
—
4,336
3,018
—
1,348
—
4,366Equipment on operating leases, net—
33,344
—
33,344
—
—
33,686
—
33,686Deferred income taxes24,254
(1,571)
—
22,682
24,446
—
(1,486)
—
22,960Other assets8,035
1,587
—
9,622
8,226
47
1,483
—
9,756Total non-current assets92,147
79,706
—
171,853
91,712
147
80,658
—
172,517Total Assets$ 145,709
$  136,319
$           (1,054)
$ 280,974
$ 143,297
$    288
$  138,820
$           (1,120)
$ 281,284LIABILITIES AND EQUITY
















Current Liabilities
















Accounts payable (principally trade)(a)$   28,071
$     516
$             (675)
$   27,912
$   24,075
$       1
$     491
$             (649)
$   23,919Short-term debt and current portion of long-term debt
















Automotive(b) 785
—
(379)
406
1,120
7
—
(471)
656GM Financial—
35,888
—
35,888
—
—
35,012
—
35,012Cruise—
—
—
—
—
—
—
—
—Accrued liabilities26,071
4,443
—
30,514
28,956
54
4,744
—
33,754Total current liabilities54,927
40,847
(1,054)
94,720
54,151
63
40,248
(1,120)
93,342Non-current Liabilities
















Long-term debt
















Automotive15,522
—
—
15,522
15,522
70
—
—
15,591GM Financial —
75,940
—
75,940
—
—
79,018
—
79,018Cruise—
—
—
—
—
—
—
—
—Postretirement benefits other than pensions3,982
—
—
3,982
4,025
—
—
—
4,025Pensions 4,701
11
—
4,712
4,977
—
11
—
4,988Other liabilities17,926
3,478
—
21,405
17,495
281
3,375
—
21,151Total non-current liabilities42,132
79,428
—
121,560
42,019
351
82,404
—
124,775Total Liabilities97,059
120,275
(1,054)
216,280
96,170
414
122,652
(1,120)
218,116Equity
















Common stock, $0.01 par value9
—
—
9
9
—
—
—
9Additional paid-in capital(c)19,540
1,077
(1,076)
19,541
18,086
1,842
1,077
(1,076)
19,928Retained earnings37,043
16,341
1
53,386
37,024
(1,968)
16,467
1
51,524Accumulated other comprehensive loss(8,903)
(1,374)
—
(10,277)
(8,966)
—
(1,377)
—
(10,343)Total stockholders' equity47,690
16,044
(1,075)
62,659
46,153
(126)
16,167
(1,075)
61,119Noncontrolling interests(c)961
—
1,075
2,036
974
—
—
1,075
2,049Total Equity48,650
16,044
—
64,694
47,127
(126)
16,167
—
63,168Total Liabilities and Equity$ 145,709
$  136,319
$           (1,054)
$ 280,974
$ 143,297
$    288
$  138,820
$           (1,120)
$ 281,284__________(a) Eliminations primarily include GM Financial accounts and notes receivable of $0.6 billion due from Automotive; and Automotive accounts receivable of $0.1 billion due from GM Financial at March 31, 2026; and GM Financial accounts and notes receivable of $0.5 billion due from Automotive; and Automotive accounts receivable of $0.1 billion primarily due from GM Financial at December 31, 2025.(b) Eliminations primarily related to GM Financial accounts receivable due from Automotive.(c) Primarily reclassification of GM Financial Cumulative Perpetual Preferred Stock, Series A, B, and C. The preferred stock is classified as noncontrolling interests in our consolidated balance sheets. General Motors Company and Subsidiaries1Combining Cash Flow Information(In millions) (Unaudited) 
Three Months Ended March 31, 2026
Three Months Ended March 31, 2025
Automotive
GM
Financial
Reclassifications/
Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
CombinedCash flows from operating activities
















Net income (loss)$    2,188
$     517
$                 —
$    2,705
$    2,659
$  (302)
$     496
$                 —
$    2,853Depreciation and impairment of Equipment on operating leases, net—
1,331
—
1,331
—
—
1,203
—
1,203Depreciation, amortization, and impairment charges on Property, net1,689
10
—
1,699
1,716
5
9
—
1,731Foreign currency remeasurement and transaction (gains) losses(60)
(4)
—
(64)
149
—
2
—
152Undistributed earnings of nonconsolidated affiliates, net(252)
(14)
—
(266)
497
—
(12)
—
485Pension contributions and OPEB payments(230)
(1)
—
(231)
(194)
—
(1)
—
(195)Pension and OPEB (income) expense, net10
1
—
11
(1)
—
—
—
—Provision (benefit) for deferred taxes117
105
—
222
39
—
104
—
143Change in other operating assets and liabilities(a)(c)(2,929)
(312)
784
(2,456)
(2,463)
(237)
76
2,313
(311)Net cash provided by (used in) operating activities533
1,633
784
2,950
2,404
(533)
1,877
2,313
6,061Cash flows from investing activities
















Expenditures for property(1,500)
(12)
—
(1,512)
(1,809)
(2)
(4)
—
(1,816)Available-for-sale marketable securities, acquisitions(682)
(53)
—
(734)
(645)
—
—
—
(645)Available-for-sale marketable securities, liquidations2,812
33
—
2,845
1,065
—
—
—
1,065Purchases of finance receivables(b)—
(8,402)
(5)
(8,407)
—
—
(9,668)
(390)
(10,058)Principal collections and recoveries on finance receivables(a)—
10,545
(1,445)
9,100
—
—
11,642
(2,685)
8,956Proceeds from sale of finance receivables—
—
—
—
—
—
—
—
—Purchases of leased vehicles—
(3,274)
—
(3,274)
—
—
(4,212)
—
(4,212)Proceeds from termination of leased vehicles—
2,520
—
2,520
—
—
2,529
—
2,529Other investing activities(b)95
—
(1)
94
(1,059)
—
—
750
(310)Net cash provided by (used in) investing activities726
1,357
(1,451)
632
(2,448)
(2)
286
(2,326)
(4,490)Cash flows from financing activities
















Net increase (decrease) in short-term debt(2)
94
—
92
(18)
—
188
—
170Proceeds from issuance of debt (original maturities greater than three months)(b)—
8,376
—
8,376
2
334
16,896
(334)
16,897Payments on debt (original maturities greater than three months)(261)
(10,568)
17
(10,813)
(66)
(1)
(15,175)
26
(15,216)Payment to purchase common stock(800)
—
—
(800)
(2,012)
—
—
—
(2,012)Issuance (redemption) of subsidiary stock(b)—
—
—
—
—
—
—
(29)
(29)Dividends paid(c)(164)
(709)
650
(223)
(116)
—
(409)
350
(175)Other financing activities(291)
(29)
—
(321)
(123)
—
(55)
—
(178)Net cash provided by (used in) financing activities(1,519)
(2,837)
667
(3,689)
(2,334)
333
1,444
13
(543)Effect of exchange rate changes on cash, cash equivalents, and restricted cash(123)
11
—
(113)
27
—
24
—
51Net increase (decrease) in cash, cash equivalents, and restricted cash(383)
163
—
(221)
(2,352)
(202)
3,632
—
1,078Cash, cash equivalents, and restricted cash at beginning of period15,241
9,043
—
24,284
14,561
322
8,081
—
22,964Cash, cash equivalents, and restricted cash at end of period$   14,857
$  9,206
$                 —
$   24,063
$   12,209
$    120
$ 11,714
$                 —
$   24,042__________(a) Includes eliminations of $1.4 billion and $2.6 billion in the three months ended March 31, 2026 and 2025 primarily driven by purchases/collections of wholesale finance receivables resulting from vehicles sold by GM to dealers that have arranged their inventory floor plan financing through GM Financial.(b) Eliminations include intercompany funding activity from Automotive and GM Financial to Cruise in the three months ended March 31,  2025.(c) Eliminations include dividends issued by GM Financial to Automotive in the three months ended March 31, 2026 and 2025.Note: Certain intercompany transactions that are eliminated in consolidation are presented on a net basis. The following tables summarize key financial information (dollars in millions): 
GMNA
GMI
Corporate
Eliminations
TotalAutomotive
Cruise
GMFinancial
Reclassifications/
Eliminations
TotalThree Months Ended March 31, 2026
















Net sales and revenue$ 36,401
$   2,859
$        90
$           —
$     39,349
$        —
$   4,276
$                  (1)
$   43,624Expenditures for property$   1,427
$        53
$        21
$           —
$       1,500
$        —
$        12
$                  —
$     1,512Depreciation and amortization$   1,541
$      119
$          5
$           —
$       1,665
$        —
$   1,341
$                  —
$     3,005Impairment charges$        25
$        —
$        —
$           —
$            25
$        —
$        —
$                  —
$          25Equity income (loss)(a)(b)$      136
$      161
$      (45)
$           —
$          252
$        —
$        14
$                  —
$        266


















GMNA
GMI
Corporate
Eliminations
TotalAutomotive
Cruise
GMFinancial
Reclassifications/
Eliminations
TotalThree Months Ended March 31, 2025
















Net sales and revenue$ 37,388
$   2,427
$        46
$           —
$     39,860
$         1
$   4,164
$                  (5)
$   44,020Expenditures for property$   1,705
$        94
$        11
$           —
$       1,809
$         2
$          4
$                  —
$     1,816Depreciation and amortization$   1,588
$      102
$        27
$           —
$       1,716
$         5
$   1,212
$                  —
$     2,934Impairment charges$        —
$        —
$        —
$           —
$            —
$       —
$        —
$                  —
$          —Equity income (loss)(a)(b)$      242
$        49
$        —
$           —
$          291
$       —
$        12
$                  —
$        303__________(a) Includes Automotive China joint ventures (Automotive China JVs) equity income (loss) of $165 million and $45 million in the three months ended March 31, 2026 and 2025.(b) Equity earnings related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution, are presented in Automotive and other cost of sales as this entity has historically been integral to the operations of our business by providing battery cells for our electric vehicles (EVs). In the three months ended March 31, 2026 and 2025, equity earnings in Ultium Cell Holdings LLC were insignificant and $241 million.General Motors Company and Subsidiaries
Supplemental Material1
(Unaudited)General Motors Company (GM) uses both generally accepted accounting principles (GAAP) and non-GAAP financial measures for operational and financial decision making, and to assess Company and segment business performance. Our non-GAAP measures include: earnings before interest and taxes (EBIT)-adjusted, presented net of noncontrolling interests; earnings before income taxes (EBT)-adjusted for our General Motors Financial Company, Inc. (GM Financial) segment; earnings per share (EPS)-diluted-adjusted; effective tax rate-adjusted (ETR-adjusted); return on invested capital-adjusted (ROIC-adjusted) and adjusted automotive free cash flow. GM's calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.These non-GAAP measures allow management and investors to view operating trends, perform analytical comparisons, and benchmark performance between periods and among geographic regions to understand operating performance without regard to items we do not consider a component of our core operating performance. Furthermore, these non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve ROIC-adjusted. Management uses these measures in its financial, investment, and operational decision-making processes, for internal reporting, and as part of its forecasting and budgeting processes. Further, our Board of Directors uses certain of these and other measures as key metrics to determine management performance under our performance-based compensation plans. For these reasons, we believe these non-GAAP measures are useful for our investors. EBIT-adjusted (Most comparable GAAP measure: Net income attributable to stockholders)  EBIT-adjusted is presented net of noncontrolling interests and is used by management and can be used by investors to review our consolidated operating results because it excludes automotive interest income, automotive interest expense, and income taxes as well as certain additional adjustments that are not considered part of our core operations. Examples of adjustments to EBIT include, but are not limited to, impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions, and certain costs arising from legal matters. For EBIT-adjusted and our other non-GAAP measures, once we have made an adjustment in the current period for an item, we will also adjust the related non-GAAP measure in any future periods in which there is an impact from the item. Our corresponding measure for our GM Financial segment is EBT-adjusted because interest income and interest expense are an integral part of its financial performance. EPS-diluted-adjusted (Most comparable GAAP measure: Diluted earnings per common share)  EPS-diluted-adjusted is used by management and can be used by investors to review our consolidated diluted EPS results on a consistent basis. EPS-diluted-adjusted is calculated as net income attributable to common stockholders-diluted less adjustments noted above for EBIT-adjusted and certain income tax adjustments divided by weighted-average common shares outstanding-diluted. Examples of income tax adjustments include the establishment or release of significant deferred tax asset valuation allowances.ETR-adjusted (Most comparable GAAP measure: Effective tax rate)  ETR-adjusted is used by management and can be used by investors to review the consolidated effective tax rate for our core operations on a consistent basis. ETR-adjusted is calculated as Income tax expense less the income tax related to the adjustments noted above for EBIT-adjusted and the income tax adjustments noted above for EPS-diluted-adjusted divided by Income before income taxes less adjustments. When we provide an expected adjusted effective tax rate, we cannot provide an expected effective tax rate without unreasonable efforts because the U.S. GAAP measure may include significant adjustments that are difficult to predict. ROIC-adjusted (Most comparable GAAP measure: Return on equity)  ROIC-adjusted is used by management and can be used by investors to review our investment and capital allocation decisions. We define ROIC-adjusted as EBIT-adjusted for the trailing four quarters divided by ROIC-adjusted average net assets, which is the average equity balances adjusted for average automotive debt and interest liabilities, exclusive of finance leases; average automotive net pension and other postretirement benefits (OPEB) liabilities; and average automotive net income tax assets during the same period.Adjusted automotive free cash flow (Most comparable GAAP measure: Net automotive cash provided by operating activities)  Adjusted automotive free cash flow is used by management and can be used by investors to review the liquidity of our automotive operations and to measure and monitor our performance against our capital allocation program and evaluate our automotive liquidity against the substantial cash requirements of our automotive operations. We measure adjusted automotive free cash flow as automotive operating cash flow from operations less capital expenditures adjusted for management actions. Management actions can include voluntary events such as discretionary contributions to employee benefit plans or nonrecurring specific events such as a closure of a facility that are considered special for EBIT-adjusted purposes.The following table reconciles Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) (dollars in millions):
Three Months Ended
March 31, 2026
March 31, 2025Net income (loss) attributable to stockholders$                                      2,627
$                                      2,784Income tax expense (benefit)642
719Automotive interest expense158
152Automotive interest income (173)
(191)Adjustments


EV strategic realignment(a)1,077
—China restructuring actions(b)(78)
—Headquarters relocation(c)—
26Total adjustments999
26EBIT-adjusted4,253
3,490Operating segments


GM North America (GMNA)3,661
3,286GM International (GMI)123
30Cruise —
(273)GM Financial(d)688
685Total operating segments4,473
3,728Corporate and eliminations(e)(219)
(238)EBIT-adjusted$                                      4,253
$                                      3,490__________(a) These adjustments were excluded because they relate to our strategic realignment of our EV capacity and manufacturing footprint, including Ultium's strategic realignment.(b) These adjustments were excluded because they relate to restructuring activities associated with our operations in China, including an other-than-temporary impairment and restructuring charges recorded in equity earnings associated with our Automotive China JVs.(c) These adjustments were excluded because they relate to the GM headquarters relocation, primarily consisting of accelerated depreciation and other relocation expenditures.(d) GM Financial amounts represent EBT-adjusted.(e) GM's automotive interest income and interest expense, legacy costs from the Opel / Vauxhall Business (primarily pension costs), corporate expenditures, and certain revenues and expenses that are not part of a reportable segment are recorded centrally in Corporate.The following table reconciles diluted earnings per common share to EPS-diluted-adjusted (dollars in millions, except per share amounts):
Three Months Ended
March 31, 2026
March 31, 2025
Amount
Per Share
Amount
Per ShareDiluted earnings per common share$                     2,614
$                       2.82
$                     3,361
$                       3.35Adjustments(a)999
1.08
26
0.03Tax effect on adjustments(b)(183)
(0.20)
(6)
(0.01)Return from preferred shareholders(c)—
—
(593)
(0.59)EPS-diluted-adjusted$                     3,430
$                       3.70
$                     2,789
$                       2.78__________(a) Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.(b) The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.(c) This adjustment consists of a return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the three months ended March 31, 2025.The following table reconciles our effective tax rate to ETR-adjusted (dollars in millions):
Three Months Ended
March 31, 2026
March 31, 2025
Income before income
taxes
Income tax expense
(benefit)
Effective tax rate
Income before income
taxes
Income tax expense
(benefit)
Effective tax rateEffective tax rate$                3,347
$                   642
19.2 %
$                3,572
$                   719
20.1 %Adjustments(a)999
183


26
6

ETR-adjusted$                4,346
$                   825
19.0 %
$                3,598
$                   725
20.1 %__________(a) Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details. These adjustments include Net income attributable to noncontrolling interests where applicable. The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.We define return on equity (ROE) as Net income (loss) attributable to stockholders for the trailing four quarters divided by average equity for the same period. Management uses average equity to provide comparable amounts in the calculation of ROE. The following table summarizes the calculation of ROE (dollars in billions):
Four Quarters Ended
March 31, 2026
March 31, 2025Net income attributable to stockholders$                   2.5
$                   5.8Average equity(a)$                 64.1
$                 67.9ROE4.0 %
8.6 %__________(a)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in Net income attributable to stockholders.The following table summarizes the calculation of ROIC-adjusted (dollars in billions): 
Four Quarters Ended
March 31, 2026
March 31, 2025EBIT-adjusted(a)$                 13.5
$                 14.6Average equity(b)$                 64.1
$                 67.9Add: Average automotive debt and interest liabilities (excluding finance leases)16.3
16.0Add: Average automotive net pension and OPEB liability8.3
9.1Less: Average automotive net income tax asset(23.7)
(22.7)ROIC-adjusted average net assets$                 65.0
$                 70.2ROIC-adjusted20.8 %
20.7 %__________(a) Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.(b) Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT-adjusted.The following table reconciles Net automotive cash provided by operating activities to adjusted automotive free cash flow (dollars in millions):
Three Months Ended
March 31, 2026
March 31, 2025Net automotive cash provided by operating activities$                                                533
$                                            2,404Less: Capital expenditures(1,500)
(1,809)Add: EV strategic realignment2,232
—Add: GMI exit costs4
4Add: Buick dealer strategy—
160Add: Separation costs—
53Adjusted automotive free cash flow$                                            1,269
$                                                811Vehicle SalesGM presents both wholesale and total vehicle sales data to assist in the analysis of our revenue and market share. Wholesale vehicle sales data consists of sales to GM's dealers and distributors as well as sales to the U.S. Government, and excludes vehicles sold by our joint ventures. Wholesale vehicle sales data correlates to GM's revenue recognized from the sale of vehicles, which is the largest component of Automotive net sales and revenue. In the three months ended March 31, 2026, 24.9% of GM's wholesale vehicle sales volume was generated outside the U.S. The following table summarizes wholesale vehicle sales by our Automotive operations (vehicles in thousands):

Three Months Ended

March 31, 2026March 31, 2025GMNA
793827GMI
10685Total
899912Total vehicle sales data represents: (1) retail sales (i.e., sales to consumers who purchase new vehicles from dealers or distributors); (2) fleet sales (i.e., sales to large and small businesses, governments, and daily rental car companies); and (3) certain vehicles used by dealers in their business, including but not limited to courtesy transportation vehicles previously used by dealers that were sold to the end consumer. Total vehicle sales data includes all sales by joint ventures on a total vehicle basis, not based on our percentage ownership interest in the joint venture, including vehicle sales of non-GM trademarked vehicles, which are included in the total vehicle sales we report for China. While total vehicle sales data does not correlate directly to the revenue GM recognizes during a particular period, we believe it is indicative of the underlying demand for GM's vehicles. Total vehicle sales data represents management's good faith estimate based on sales reported by our dealers, distributors, and joint ventures; commercially available data sources, such as registration and insurance data; and internal estimates and forecasts when other data is not available.The following table summarizes industry and GM total vehicle sales and GM's related competitive position by geographic region (vehicles in thousands):
Three Months Ended
March 31, 2026
March 31, 2025
Industry
GM
Market Share
Industry
GM
Market ShareNorth America










United States3,792
626
16.5 %
4,032
693
17.2 %Other924
117
12.6 %
941
126
13.4 %Total North America4,717
743
15.8 %
4,973
819
16.5 %Asia/Pacific, Middle East, and Africa










China(a)5,062
349
6.9 %
5,811
443
7.6 %Other5,786
108
1.9 %
5,733
102
1.8 %Total Asia/Pacific, Middle East, and Africa10,848
457
4.2 %
11,545
545
4.7 %South America










Brazil625
61
9.8 %
552
56
10.1 %Other454
33
7.3 %
400
29
7.2 %Total South America1,079
95
8.8 %
951
85
8.9 %Total in GM markets16,644
1,294
7.8 %
17,469
1,448
8.3 %Total Europe4,142
—
— %
4,238
1
— %Total Worldwide(b)20,786
1,295
6.2 %
21,706
1,449
6.7 %United States










Cars627
11
1.8 %
707
17
2.5 %Trucks1,010
324
32.1 %
1,053
344
32.7 %Crossovers2,155
291
13.5 %
2,272
332
14.6 %Total United States3,792
626
16.5 %
4,032
693
17.2 %China(a)










SGMS

116




119

SGMW

233




324

Total5,062
349
6.9 %
5,811
443
7.6 %__________ (a) Includes sales by the Automotive China JVs: SAIC General Motors Sales Co., Ltd. (SGMS) and SAIC GM Wuling Automobile Co., Ltd. (SGMW).(b) Cuba, Iran, North Korea, and Sudan have been subject to broad economic sanctions. Accordingly, these countries are excluded from industry sales data and corresponding calculation of market share.As discussed above, total vehicle sales and market share data provided in the table above includes fleet vehicles. Certain fleet transactions, particularly sales to daily rental car companies, are generally less profitable than retail sales to end customers. The following table summarizes estimated fleet sales and those sales as a percentage of total vehicle sales (vehicles in thousands):
Three Months Ended
March 31, 2026
March 31, 2025GMNA184
172GMI82
67Total fleet sales266
239



Fleet sales as a percentage of total vehicle sales20.6 %
16.5 %







View original content:https://www.prnewswire.com/news-releases/gm-releases-2026-first-quarter-results-declares-quarterly-dividend-302754977.htmlSOURCE General Motors

Original: GM releases 2026 first-quarter results, declares quarterly dividend

Pentagon Turns to Automakers to Boost Weapons Output, WSJ ReportsApril 16, 2026 7:26 AM
IH Market News
The Pentagon has reached out to major U.S. manufacturers, including leading automakers, to assess options for increasing weapons production as ongoing conflicts put pressure on military inventories, the Wall Street Journal reported on Wednesday, citing sources familiar with the matter.According to the report, senior defense officials have begun preliminary discussions with executives from companies such as General Motors (NYSE:GM) and Ford Motor (NYSE:F) about redirecting parts of their production capacity and workforce toward the manufacture of munitions and other military equipment.These talks come as the Trump administration looks to shift the defense industrial base onto a “wartime footing,” in response to sustained conflicts, including those in Iran and Ukraine, which have significantly reduced U.S. stockpiles.Officials are evaluating whether commercial manufacturers can complement traditional defense contractors and quickly expand output of key systems such as missiles, drones, and other tactical equipment, the WSJ added.The outreach effort also extends to industrial groups including GE Aerospace (NYSE:GE) and Oshkosh Corporation (NYSE:OSK).The initiative highlights increasing concern in Washington over constrained domestic production capacity, with the Pentagon turning more frequently to private-sector partners to strengthen supply chains and meet growing national security requirements.General Motors stock priceFord stock priceGE Aerospace stock priceOshkosh Corporation stock price

Original: Pentagon Turns to Automakers to Boost Weapons Output, WSJ Reports

GM recalls nearly 33,000 Corvettes over turn signal detection software faultApril 9, 2026 7:09 AM
IH Market News
General Motors (NYSE:GM) has announced a recall of 32,988 Corvette vehicles after identifying a software defect that could stop the system from detecting failures in the rear turn signal lights, according to a filing with the U.S. National Highway Traffic Safety Administration.The recall applies to select 2025 and 2026 Corvette models. Affected vehicles include the Corvette ZR1X Coupe, Corvette ZR1X Convertible, Corvette Coupe E-Ray, Corvette Convertible E-Ray, Corvette Convertible, Corvette Coupe, Corvette E-Ray Coupe, and Corvette E-Ray Convertible.According to the notice, a fault in the lighting control module’s software may prevent drivers from receiving an alert if a rear turn signal stops functioning, potentially raising the likelihood of an accident.

Original: GM recalls nearly 33,000 Corvettes over turn signal detection software fault

General Motors $GM
GM’s “EV future” is mostly marketing spin. Ultium delays, Cruise disasters, and weak EV adoption are dragging the company backward. Meanwhile, the core business is cyclical, capital-intensive, and exposed to rising rates. GM is priced like a safe industrial, but it’s carrying massive execution risk. If the economy slows or EV adoption disappoints, GM’s valuation could unravel quickly.

The Drone Revolution's Dependence on Chinese Rare Earth Processing - OilPrice.com Market CommentaryMarch 11, 2026 10:45 AM
PR Newswire (US)

NEW YORK, March 11, 2026 /PRNewswire/ -- Ukraine produced 1.2 million drones in 2024 alone. The scale is significant, as Ukraine is now deploying roughly 9,000 drones per day. But all of those drones share one vulnerability: virtually every magnet in the Ukrainian drones used in 2024 was manufactured in China. And the same is true for Western defense systems across the board.  Companies mentioned in this release include: REalloys Inc. (ALOY), Apple Inc. (NASDAQ: AAPL), Broadcom Inc. (NASDAQ:AVGO), Advanced Micro Devices, Inc. (NASDAQ: AMD), General Motors Company (NYSE: GM), Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM)Every drone motor, every missile guidance system, every fighter jet turbine starter…all of them depend on rare earth magnets that trace back to Chinese processing. That's a vulnerability most people haven't even begun to understand. And one company, REalloys (ALOY), is looking to close that gap before it's too late.REalloys operates the only proven commercial-scale platform in North America for producing the heavy rare earth metals and alloys that go into defense-grade magnets. Its facility in Euclid, Ohio, is already delivering materials under U.S. government contracts. And there's a hard deadline approaching that changes everything. On January 1, 2027, new U.S. defense procurement rules take effect that will effectively ban Chinese-origin rare earth materials from American weapons systems. That means every defense contractor currently sourcing magnets or magnet materials – for drones or any other military purpose – from China will need a compliant domestic alternative…and they'll need it fast. So the companies that get qualified into these programs now might own these supply chains for decades.China Holds the KeyChina controls approximately 90–95% of global rare earth processing. Rare earths exist in the ground across North America, South America, Greenland, and elsewhere. But the West gave up the ability to actually process those raw materials into usable metals and magnets roughly 40 years ago. China filled that void and now controls nearly the entire global supply chain.Every rare earth magnet used in Western defense systems, vehicles, electronics, and industrial equipment traces back to Chinese processing. And China maintains an incredibly strict control over its advantage, as it issues rare earth export licenses on a monthly basis. That means Beijing can throttle supply to any country at any time.When President Trump threatened 100% tariffs on China, Beijing's counter was a threat to cut off rare earth exports. This episode highlighted the strategic leverage that rare earth export controls provide to China.Notably, the United States currently maintains zero strategic stockpile of processed rare earths. Europe's stockpile? Also zero. The entire Western drone and defense industrial base operates on a just-in-time supply chain for the most critical materials on the planet…and it's sourced almost entirely from a geopolitical adversary that can turn the tap off any time it wants. This is the threat that makes what REalloys is building in Ohio and Saskatchewan so critical…not just as a business, but as a matter of national defense.Why Billions in Mining Investment Haven't Fixed AnythingThere's a reason billions of dollars in rare earth mining investment haven't made a dent in China's dominance. It's because most of the money was spent working to solve the wrong problem. Even President Trump has acknowledged this publicly, remarking at the World Economic Forum in Davos that America doesn't have a rare earth problem; it has a processing problem. Elon Musk echoed the same point, noting that there's nothing rare about rare earths except the processing and separating.Converting raw rare earth minerals into defense-grade metals and magnets is a ridiculously complex industrial challenge. It involves separating 17 individual elements through multi-stage solvent extraction…then converting oxides into metals at temperatures above 1,200 degrees…then precision alloying to exact specifications across thousands of micro-steps…and all of this must be controlled with extreme precision.Making matters worse, many companies claiming to operate supply chains outside China's influence are still quietly dependent on Chinese technology, equipment, and consumables. For example, graphite anodes, which are a critical furnace component that needs replacing several times per week, come almost exclusively from China.As one rare earth processing expert put it: 1% reliance on China is 100% reliance on China. It's a principle that REalloys and its processing partner, the Saskatchewan Research Council, built their entire operation around…and it's why their supply chain was designed from the ground up to be completely free of Chinese dependency.The Only Proven Platform in North AmericaNo other company in North America has what REalloys (ALOY) has built: a proven, commercial-scale heavy rare earth supply chain that can take raw material all the way to a finished magnet with zero reliance on Chinese technology, equipment, or critical consumables.The company controls every step of the supply chain. Upstream, it owns the Hoidas Lake rare earth project in Saskatchewan and has locked in non-binding feedstock agreements with partners in Kazakhstan, Brazil, and Greenland. Midstream, it holds an exclusive 80% offtake on production from the Saskatchewan Research Council's Rare Earth Processing Facility in Saskatoon, targeting first commercial production in late 2026 to early 2027. Downstream, it operates a metallization and magnet-manufacturing facility in Euclid, Ohio, which is a site with more than three decades of specialty metals experience and existing contracts with the U.S. Department of Defense, Department of Energy, and NASA.That Euclid facility is a critical asset. It is currently the only facility in North America with a proven track record of delivering heavy rare earth metals, alloys, and magnets to government and commercial partners. The team behind it goes back over 40 years, including eight years of hands-on collaboration with U.S. national laboratories and the Defense Logistics Agency. And the processing technology that feeds it is just as impressive. Where a comparable Chinese facility requires roughly 80 workers running manual operations around the clock, the SRC's AI-driven system runs the entire separation process with six people.When China blocked the export of processing technology in 2020, SRC built everything from the ground up…and ended up building something better. By early 2027, the combined platform is expected to produce approximately 525 tonnes per year of neodymium-praseodymium metal, roughly 30 tonnes of dysprosium oxide, and 15 tonnes of terbium oxide. At that scale, the SRC facility would be the largest source of heavy rare earth oxides outside China, sitting right in North America's backyard.Why the Next 12 Months Change EverythingOn January 1, 2027, new U.S. defense procurement rules take effect that will effectively ban Chinese-origin rare earth materials from American weapons systems. Every defense contractor that currently sources magnets or magnet materials from China will need a compliant domestic alternative. That deadline is now less than a year away, and qualification alone takes years while material is tested, stressed, retested, incorporated into components, and evaluated again after changes in scale. Any variation in chemistry, microstructure, or processing conditions can reset the entire clock.Once a supplier clears that process, replacing them becomes a technical and regulatory headache that nobody wants to take on. Defense platforms are designed to operate for decades, and suppliers are chosen early and rarely replaced.The U.S. Export-Import Bank has issued a $200 million letter of intent to support the company's supply chain development. The Japan Organization for Metals and Energy Security (JOGMEC) has signed an MOU covering technology transfer and potential financing. And the company's board reads like a who's who of defense and policy leadership: Chairman Stephen S. DuMont, President of GM Defense; General Jack Keane (Ret.), four-star general and recipient of the Presidential Medal of Freedom; former Saskatchewan Premier Brad Wall; and former Canadian Ambassador to the U.S. David MacNaughton.When the U.S. defense establishment, allied governments, and major financial institutions all start backing the same company, it usually means something. In rare earth processing, where the barriers are measured in years of expertise rather than dollars of capital, being first matters more than being biggest. REalloys got there first.Heavy rare earths are essential technology. Here are 5 companies to watch over the coming months that have exposure to the rare earth space:Apple Inc. (NASDAQ: AAPL) has essentially decoupled its hardware from the traditional rare earth mining market. As of their 2025 environmental audits, the company reached a milestone: over 99% of the rare earths used in all Apple-designed magnets are now sourced from recycled materials. This is a massive achievement powered by their proprietary disassembly robots like Daisy and Dave, which recover magnets from old iPhones that industrial shredders would normally pulverize and lose. To lock this in for the long haul, Apple signed a landmark $500 million agreement with MP Materials in mid-2025. This deal secures a domestic supply of magnets refined at Mountain Pass, California, and manufactured in Northlake, Texas.Broadcom Inc. (NASDAQ: AVGO) is the "quiet giant" of the AI hardware world, specializing in the high-speed networking chips that connect thousands of GPUs in a data center. In early 2026, they secured a massive $21 billion order from Anthropic for custom AI accelerators. These chips, and the optical transceivers that accompany them, require precision magnets and specialized alloys that have been subject to significant export delays and 45% tariffs over the last year.Broadcom's stock has been one of the top performers in the semiconductor sector, recently hitting new highs as investors realize that you can't build an AI supercomputer without Broadcom's interconnect technology. They've successfully integrated VMware into their business, shifting toward a high-margin software-plus-hardware model.Advanced Micro Devices, Inc. (NASDAQ: AMD) is currently the strongest rival to NVIDIA in the AI space, and they are doing it by leaning into an "open ecosystem" strategy. Helios is designed to be "circular-ready," meaning it's built so that rare earth magnets and other high-value metals can be easily stripped and recycled when the hardware is decommissioned after its 3-to-5-year life cycle in a data center.Financially, AMD's stock has been bolstered by its aggressive product roadmap, specifically the Instinct MI400 series GPUs. While NVIDIA has the market share, AMD has the "favored alternative" status among hyperscalers like Google and Microsoft who want to avoid vendor lock-in.General Motors Company (NYSE: GM) has expanded its upstream exposure as access to battery raw materials increasingly dictates EV scaling timelines. The automaker continues to secure direct stakes and long-term contracts across the lithium, nickel, and cobalt value chains to underpin its Ultium platform.Its investment in Lithium Americas' Thacker Pass project provides priority access to Phase 1 lithium supply, supporting full U.S. tax credit eligibility under current IRA guidelines. GM has also expanded nickel and cobalt supply arrangements with global miners to diversify sourcing.TSMC (NYSE: TSM) is the "foundry of the world," and as such, they are the single largest consumer of the high-purity chemicals and minerals used in semiconductor manufacturing. At their massive site in Phoenix, Arizona, they recently broke ground on an Industrial Water Reclamation Plant. This $20+ billion facility is designed to recapture up to 90% of the water used in chipmaking.Financially, TSMC remains a powerhouse, with early 2026 revenue projections showing nearly 30% growth. The stock continues to be a favorite for those wanting exposure to the AI boom, as every major player relies on TSMC's Taiwan and Arizona fabs. However, the company is constantly navigating the "Taiwan Risk," which is why theirBy. Josh OwensOilprice Intelligence brings you the inside view on where the next gains will come from, breaking down the market's biggest growth driver with analysis from oilmen and experts. Click here to get this intel for freeIMPORTANT NOTICE AND DISCLAIMER FORWARD LOOKING STATEMENTS
This publication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. The Publisher notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the companies' actual results of operations. Factors that could cause actual results to differ include, but are not limited to, changing governmental laws and policies concerning, among other things, recreational and medical cannabis sales, success of the company's proprietary technology, the size and growth of the market for the company's products and services, the company's ability to fund its capital requirements in the near term and long term, pricing pressures, etc.SHARE OWNERSHIP
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Original: The Drone Revolution's Dependence on Chinese Rare Earth Processing - OilPrice.com Market Commentary

V2X Extends Strategic Partnership with General Motors to Deliver Advanced Technical Training NationwideMarch 10, 2026 7:30 AM
PR Newswire (US)

RESTON, Va., March 10, 2026 /PRNewswire/ -- V2X, Inc. (NYSE: VVX) today announces the extension of its longstanding partnership with General Motors (NYSE: GM), underscoring a continued commitment to technical excellence and workforce development across GM's nearly 4,000 U.S. dealerships. Under this multi-year contract, valued at over $100 million and now extended through 2030, V2X will continue to design, deliver, and evaluate comprehensive technical training for all GM Service Technicians.







The partnership includes operation of the flagship GM Technical Training Center in Troy, MI, supporting GM's renowned World Class Technician certification program. The program consistently exceeds industry standards. V2X Professional Services (VPS) plays an integral role in ensuring a steady pipeline of highly qualified technicians.Now in its 26th year, the GM Service Technical College, in collaboration with V2X, trains more than 40,000 Service Technicians and Apprentices annually. The curriculum is continually updated to address emerging technologies and evolving vehicle model requirements, ensuring GM's technician workforce is prepared to uphold the brand's promise of exceptional customer service."The partnership with GM exemplifies the power of aligning technical training with a company's evolving needs," said Jeremy C. Wensinger, President and Chief Executive Officer of V2X. "Our work with GM has been pivotal in driving our growth across the commercial, government, and military technical training markets. Every day, we strive to earn and uphold GM's trust in V2X."This ongoing collaboration is founded on a shared commitment to innovation in learning methods and training media. As a result, GM consistently leads the industry in the quality of facilities and resources dedicated to training, while achieving top-tier customer satisfaction ratings. About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations

Why Rare Earth Magnets Are the Real Battlefield Between the U.S. and ChinaFebruary 27, 2026 9:50 AM
PR Newswire (US)

OilPrice.com Market CommentaryNEW YORK, Feb. 27, 2026 /PRNewswire/ -- The struggle for geopolitical supremacy is rapidly becoming a struggle over one critical resource - rare earth magnets.  They will determine whether the United States can build military equipment at scale, whether weapons can be replaced as fast as they are used, and whether industry can keep pace with demand across an economy measured in the tens of trillions of dollars.  Companies mentioned in this release include: REalloys Inc. (ALOY), Microsoft (NASDAQ: MSFT), NVIDIA (NASDAQ: NVDA), Alphabet (NASDAQ: GOOGL), Tesla, Inc. (NASDAQ: TSLA), General Motors Company (NYSE: GM).For the United States, winning this strategic competition hinges on a single, difficult capability: the domestic production of magnet materials at scale. While many other Western firms are very early in the exploration stage or 'paper' phase of developing processing capabilities, one company is already operational and processing metals.Based in Euclid, Ohio, REalloys (ALOY) operates North America's only facility that has converted heavy rare earths into the high-performance metals and alloys required for defense systems. By bridging the gap between raw oxides and finished magnets, they have moved beyond the industry's theoretical roadmaps to provide a functioning supply chain that feeds American factories and weapons programs today.The company has non-binding agreements in place for long-term feedstock from North America, Kazakhstan, Greenland, and Brazil and processes it directly in the United States, eliminating offshore detours. It is already supplying qualified metals and alloys under U.S. Department of Defense contracts as sourcing rules tighten toward fully domestic material.What the DoD Needs UrgentlyThe U.S. military is working with REalloys for rare earth metals and alloys for use  in active programs. The company produces defense-grade metal and alloy domestically, to specifications already embedded in program supply chains. As sourcing rules change in 2027 and Chinese material becomes ineligible, that same material remains compliant without modification. No other North American supplier currently produces the same class of qualified heavy rare earth metals and alloys. And in our opinion it is unlikely they will have the capabilities to do so at scale for at least another 3 years.Heavy rare earths keep modern missile and aerospace systems operating under extreme conditions. Dysprosium and terbium are added to magnet alloys to preserve magnetic strength when temperatures rise or when vibration intensifies.That makes heavy rare earths absolutely vital to things like precision-guided missiles and missile-defense interceptors. Dysprosium and terbium are non-negotiable inputs for these weapons systems.Where REalloys Ranks in the Magnet WarStrip away the rhetoric, and the U.S. rare earth landscape collapses fast. Most companies are still upstream, with mines, oxides, separation pilots, and PowerPoint roadmaps. REalloys is firmly downstream, where supply chains either function or fail.They have an executed commercial processing and long-term offtake agreement with the Saskatchewan Research Council (SRC) tied to SRC's Rare Earth Processing Facility in Saskatoon. Under that agreement, REalloys (ALOY) secures 80% of annual production from the upgraded capacity, with supply structured on a cost-plus model. Heavy rare earth production from the upgraded facility is expected to begin in early 2027, positioning REalloys as the only commercial-scale supplier of dysprosium and terbium oxides in North America.They are also committing approximately US$21 million to expand the facility to lift heavy rare earth processing capacity by about 300% and increasing light rare earth (NdPr) capacity by 50%. The design output is up to 30 tonnes of dysprosium oxide, 15 tonnes of terbium oxide, and 400 tonnes per year of high-purity NdPr metal, with NdPr increasing to 600 tonnes per year after the expansion is complete, with first production slated for early next year.LOI's are in place for feedstock from  Kazakhstan, Brazil, and Greenland.In Kazakhstan, they have secured a non-binding long-term offtake agreement with AltynGroup for rare-earth feedstock containing both light and heavy rare-earth elements, including dysprosium and terbium.That raw material will feed directly into REalloys' U.S. metals and alloy production rather than being routed offshore. In Brazil, the company has signed an offtake memorandum with St George Mining that outlines access to up to 40% of rare earth production from the country's Araxá project, subject to definitive agreements.In Greenland, they have a 10-year offtake arrangement (at LOI stage) under which it expects to supply REalloys up to 15% of annual production from the Tanbreez project's rare earth concentrate.The final destination is the Department of Defense. Their Euclid, Ohio facility is designed to separate rare earth oxides which are reduced into metal under controlled atmospheres and alloyed into magnet-grade compositions. Both light and heavy rare earths, including dysprosium and terbium, will be processed at this facility within the same metallurgical workflow. Output is produced as pre-alloyed metal, with chemistry set upstream and held to tight tolerances required for qualified magnet production. This places Euclid between separation and magnet manufacturing, at the point where rare earths become usable inputs rather than intermediates.The material is bought through ordinary commercial supply relationships and moves directly into magnets and components supplied to the DoD.America Rebuilds Under Strategic ThreatFor the first time in decades, the United States is rebuilding a rare-earth supply chain under active Chinese pressure.It is doing so under deliberate Chinese pressure on the processed materials that keep weapons programs and factories running.Almost no one outside China can reliably turn rare earth oxides into finished metal on an industrial scale.That step turning rare earth oxides into usable metals is where most Western supply chains quietly gave up decades ago.The Center for Strategic and International Studies (CSIS) identifies rare-earth metallization and alloying as the least developed and most difficult capability to rebuild outside China. In its work on supply-chain resilience, CSIS describes metal and alloy production as an experience-driven bottleneck–one that cannot be recreated quickly, even with funding in place.The CSIS makes this clear: rare-earth metallization is learned over long operating histories, not built on a schedule. Reaching stable, magnet-grade output can take many years and, in some cases, decades. Mines can be built, but metallization cannot be rushed.While most Western efforts stop at oxides or pilot separation, Realloys (ALOY) is operating at the conversion step CSIS identifies as the hardest to rebuild. At Euclid, oxide becomes metal, metal becomes alloy, and chemistry is held inside specifications already accepted downstream. That work is happening now, inside an operating U.S. facility.They operate at the conversion layer CSIS identifies as the hardest capability to rebuild outside China. The separated rare earth oxides reduced into metal and alloyed to magnet-grade specifications at Euclid will be used downstream. The process runs under controlled atmospheres, with chemistry set upstream and held within tight tolerances across repeated production runs.That capability is rare because the U.S. abandoned it decades ago and it can't be rebuilt quickly. It requires operating history, not construction schedules. It exists here, inside an operating U.S. facility, feeding magnet and defense supply chains with usable material rather than intermediates.This capability sets the limits of the rebuild, and of U.S. industrial and defense capacity.Here are other companies that are reliant on heavy rare earth elements and why they are so important to their businesses:

Microsoft (NASDAQ: MSFT) has become a pivotal architect of the "Circular Rare Earth Economy," shifting its strategy from simple procurement to large-scale urban mining. In early 2025, Microsoft achieved a major breakthrough by launching a commercial-scale Rare Earth Material Capture Program in collaboration with Western Digital. By decommissioning and shredding approximately 50,000 pounds of end-of-life hard disk drives (HDDs) from its global data centers, Microsoft demonstrated an acid-free, environmentally friendly process that recovers over 90% of the neodymium and praseodymium (NdPr) used in high-performance magnets.Beyond recycling, Microsoft is a major backer of AI-driven mineral discovery through KoBold Metals, an exploration firm co-founded with Bill Gates. By 2026, Microsoft has integrated its Azure high-performance computing (HPC) power with KoBold's "Machine Prospector" to identify "Tier 1" critical mineral deposits in regions previously thought to be exhausted, such as Western Australia and Sub-Saharan Africa.NVIDIA (NASDAQ: NVDA) is the "technological engine" powering the modernization of the rare earth industry, moving from supplying GPUs to creating the "AI Factory" for mining. At CES 2026, NVIDIA and Caterpillar (CAT) announced an expanded collaboration to deploy "Physical AI" across mining sites globally. By integrating the NVIDIA Jetson Thor platform into autonomous mining fleets, NVIDIA has enabled machines to process billions of data points in milliseconds, allowing for high-precision extraction in complex environments.Crucially, NVIDIA has pioneered the use of Digital Twins for rare earth refineries through its Omniverse platform. In 2026, facilities like the Saskatchewan Research Council (SRC) and MP Materials utilize NVIDIA's OpenUSD-based simulations to model the chemical behavior of rare earth separation at a molecular level. This "Simulation-First" approach allows engineers to optimize the proprietary solvent extraction (SX) cells, the most guarded and difficult step of rare earth processing, without wasting expensive chemical reagents.Alphabet (NASDAQ: GOOGL), through DeepMind and Google Cloud, has positioned itself as the "automated chemist" of the rare earth industry. In early 2026, Google DeepMind unveiled GNoME 3.0 (Graph Networks for Materials Exploration), an AI model that predicted over 2 million new crystalline structures, many of which are specifically designed to be high-performance, rare-earth-free permanent magnets. By simulating new material combinations that mimic the magnetic properties of neodymium but use more abundant elements like iron and nitrogen, Google is working to "engineer out" the vulnerability of the rare earth supply chain entirely.In the immediate term, Google Cloud is the data backbone for the Saskatchewan Research Council's (SRC) AI-powered separation facility. Google's Vertex AI models are the brains behind the facility's "micro-adjustment" sensors, which coordinate the flow of thousands of chemical tanks to separate the 17 chemically identical rare earth elements.Tesla, Inc. (NASDAQ: TSLA) remains one of the most influential industrial demand drivers for critical minerals and magnetic materials globally. Although its core business is electric vehicles and energy storage, Tesla's design choices in traction motors, battery chemistry, and material sourcing have profound implications for rare earths, nickel, lithium, and cobalt markets. Major EVs typically incorporate neodymium-praseodymium magnets in their motors, and even as Tesla explores designs with reduced rare earth content, the underlying demand for high-performance permanent magnets and advanced battery metals continues to shape supplier strategy.Tesla's high-volume manufacturing footprint, global supply agreements, and influence on EV battery chemistries make it a bellwether for critical mineral demand trends, particularly in North America and Europe, where domestic supply diversification remains a strategic priority.General Motors Company (NYSE: GM)
General Motors has expanded its upstream exposure as access to battery raw materials increasingly dictates EV scaling timelines. The automaker continues to secure direct stakes and long-term contracts across the lithium, nickel, and cobalt value chains to underpin its Ultium platform.Its investment in Lithium Americas' Thacker Pass project provides priority access to Phase 1 lithium supply, supporting full U.S. tax credit eligibility under current IRA guidelines. GM has also expanded nickel and cobalt supply arrangements with global miners to diversify sourcing.Downstream integration continues through cathode joint ventures in North America and battery recycling partnerships designed to recover high percentages of lithium, nickel, and cobalt from scrap and end-of-life packs, reducing long-term primary material exposure.By. Josh OwensFORWARD LOOKING STATEMENTS
This publication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. The Publisher notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the companies' actual results of operations. Factors that could cause actual results to differ include, but are not limited to, changing governmental laws and policies concerning, among other things, recreational and medical cannabis sales, success of the company's proprietary technology, the size and growth of the market for the company's products and services, the company's ability to fund its capital requirements in the near term and long term, pricing pressures, etc.IMPORTANT NOTICE AND DISCLAIMER
Neither the author nor the publisher, Oilprice.com, was paid to publish this communication concerning REalloys (ALOY). The owner of Oilprice.com owns shares and/or stock options of the featured company and therefore has an incentive to see the featured company's stock perform well. The owner of Oilprice.com may buy or sell shares of the featured company at any time including at or near the time you receive this communication. This share ownership should be viewed as a major conflict with our ability to be unbiased. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company's SEC, SEDAR and/or other government filings. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. This communication is based on information generally available to the public and does not contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher cannot guarantee the accuracy or completeness of the information.INDEMNIFICATION/RELEASE OF LIABILITY
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Original: Why Rare Earth Magnets Are the Real Battlefield Between the U.S. and China

CADILLAC FORMULA 1® TEAM REVEALS HISTORIC FIRST LIVERYFebruary 8, 2026 11:03 PM
PR Newswire (US)

INDIANAPOLIS and SILVERSTONE, U.K., Feb. 9, 2026 /PRNewswire/ -- The Cadillac Formula 1® Team today unveiled the livery of its maiden Formula 1® challenger, marking a defining milestone in the team's journey to the world's most elite motorsport championship. The striking white and black scheme will be used by the American squad throughout 2026, when it makes its much-anticipated debut in Formula 1® as the sport's 11th team.
The livery was unveiled to a global audience through a national TV advertising spot during Super Bowl LX at Levi's Stadium in Santa Clara, California. With an expected audience of over 130 million viewers, the Super Bowl is one of the most popular events on the planet, driving conversations at the intersection of sport, culture, and entertainment. That makes it a perfect opportunity for the team – which represents a striking new chapter in American participation in Formula 1® – to launch onto the world stage ahead of its Grand Prix debut in Melbourne, Australia (March 6-8).Shortly after the ad appeared on TV, a replica of the first Cadillac Formula 1® Team car was unveiled in dynamic fashion in Times Square, the busiest destination in the United States, giving fans a front-row view of the color scheme.The Cadillac Formula 1® Team car is dual color, with one black side and one white side. The design gradient, which evokes speed when the car is stationary, is actually a Cadillac chevron repeating: a subtle nod to the co-ownership of General Motors and the iconic Cadillac symbol. Drawing on cinematic craft and musical restraint, the livery reveal film is directed by Sam Piling, whose work is known for turning simple ideas into visceral, high-impact visual statements, and scored by Max Richter, one of the world's most influential contemporary composers. The livery uses asymmetry as a deliberate design philosophy: a yin-and-yang balance expressed through stark black and white, where grit, determination, and performance meet aspiration, optimism and ambition."This livery represents far more than a paint scheme; it represents who we are and what we bring to Formula 1,'' said Dan Towriss, CEO of Cadillac Formula 1 Team Holdings. "Every detail is intentional: bold, modern, and unmistakably American, while respecting the heritage and precision that define this sport. Choosing to reveal our first race livery during the Super Bowl and in the heart of Times Square is a way to introduce our identity to the world at the intersection of performance, culture, and entertainment, and to connect with fans in places far beyond the paddock.''"Unveiling our official race livery is a huge milestone in a journey that started years ago — earning our place on the grid, assembling a world-class team, and developing a race car worthy of Formula 1," said GM President Mark Reuss. "The momentum is building toward Melbourne and our Grand Prix debut. For GM, this race car showcases the American innovation, spirit, and pride we want to bring to the global stage of F1."The team will compete at the pinnacle of motorsport over 24 races in 2026, visiting the world's most iconic and historic racetracks, including three venues on American soil: the Miami International Autodrome (May 1-3), the Circuit of The Americas in Austin (Oct. 23-25) and the Las Vegas Strip Circuit (November 20-22).Graeme Lowdon, Team Principal of the Cadillac Formula 1® Team, added: "I'm incredibly proud to reveal the colors of our 2026 Formula 1 challenger. We are a team built on bold ambition and leadership in innovation, values which we exhibited today by tapping into one of the most culturally significant sporting events in the world in a manner that has never been done by a Formula 1 team before."The team, which has bases in Indianapolis, Indiana (USA), Charlotte, North Carolina (USA), and Silverstone, Northamptonshire (UK), has been built from the ground up. Established in partnership between TWG Motorsports, the motorsport arm of TWG Global, and General Motors (GM), it aims to bring together a legacy of engineering excellence and a shared commitment to innovation and performance. Both TWG and GM provide valuable technical, operational, and commercial support, know-how, and infrastructure to the Cadillac Formula 1® Team.On track, Checo Pérez and Valtteri Bottas will lead the team as its first Grand Prix drivers. The pair, who hail from Guadalajara, Mexico, and Nastola, Finland, respectively, boast 526 starts, 106 podium finishes, and 16 victories, making them one of the most experienced and successful driver pairing on the grid. The 2026 driver lineup also includes former Ferrari and Sauber driver, Zhou Guanyu, who will serve as Reserve Driver, and nine-time NNT INDYCAR SERIES race winner Colton Herta, who will be the team's Test Driver – duties for which he will balance with a seat in Formula 2, the final step on the FIA's single-seater ladder before Formula 1®, with Hitech TGR.About Cadillac Formula 1® Team
The Cadillac Formula 1® Team is a specialist motor racing team competing in the FIA Formula 1 World Championship. Backed by TWG Motorsports and General Motors, the team has operations in Indianapolis, Indiana (USA); Charlotte, North Carolina (USA); and Silverstone, Northamptonshire (UK). With the confidence to dream big and the passion to deliver, the Cadillac Formula 1® Team is building everything from the ground up – from high-performance race cars to an inclusive, values-driven culture. The team will make its Formula 1® debut in 2026.About TWG Motorsports
TWG Motorsports is the motorsports entity of TWG Global, unifying a robust racing portfolio across the world's biggest stages in Formula 1®, INDYCAR, Formula E, IMSA, and NASCAR. With strategic partnerships that include General Motors on the Cadillac Formula 1® Team and ownership of Andretti Global, Wayne Taylor Racing and Spire Motorsports, TWG Motorsports combines deep technical expertise, proven competitive excellence and industry-leading business acumen. TWG Motorsports is committed to innovating, growing and winning at the highest levels of the sport.Learn more at TWGMotorsports.com.About GM
General Motors (NYSE: GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. GM Motorsports, including the Cadillac Formula 1® Team develops and proves advanced technologies in the most demanding environments, accelerating innovation in performance, safety, efficiency, and electrification for its production vehicles. Cadillac Racing is one of the leading manufacturers in the IMSA and FIA World Endurance Championships (WEC). Chevrolet competes in single seaters in the US IndyCar series, and in NASCAR with multiple team partners and drivers. Corvette customer teams compete in GT series across the globe including IMSA and WEC.Learn more at GM.com.    Photo - https://mma.prnewswire.com/media/2889607/CF1_2026_SB_Campaign_HERO_LIVERY_COMPOSITE_UNCROPPED.jpg
Photo - https://mma.prnewswire.com/media/2889611/CF1_2026_SB_Campaign_HERO_LIVERY_02_16x9.jpg
Photo - https://mma.prnewswire.com/media/2889613/CF1_2026_SB_Campaign_HERO_LIVERY_01_16x9.jpg
Photo - https://mma.prnewswire.com/media/2889610/CF1_2026_SB_Campaign_HERO_LIVERY_06_4x5.jpg
Photo - https://mma.prnewswire.com/media/2889609/CF1_2026_SB_Campaign_JIM_BEAM_03_16x9.jpg
Logo - https://mma.prnewswire.com/media/2757990/Cadillac_Formula_1_Team_Logo_Logo.jpg



View original content:https://www.prnewswire.co.uk/news-releases/cadillac-formula-1-team-reveals-historic-first-livery-302682233.html

Original: CADILLAC FORMULA 1® TEAM REVEALS HISTORIC FIRST LIVERY

CADILLAC FORMULA 1® TEAM REVEALS HISTORIC FIRST LIVERYFebruary 8, 2026 10:30 PM
PR Newswire (US)

INDIANAPOLIS and SILVERSTONE, U.K., Feb. 8, 2026 /PRNewswire/ -- The Cadillac Formula 1® Team today unveiled the livery of its maiden Formula 1® challenger, marking a defining milestone in the team's journey to the world's most elite motorsport championship. The striking white and black scheme will be used by the American squad throughout 2026, when it makes its much-anticipated debut in Formula 1® as the sport's 11th team.







The livery was unveiled to a global audience through a national TV advertising spot during Super Bowl LX at Levi's Stadium in Santa Clara, California. With an expected audience of over 130 million viewers, the Super Bowl is one of the most popular events on the planet, driving conversations at the intersection of sport, culture, and entertainment. That makes it a perfect opportunity for the team – which represents a striking new chapter in American participation in Formula 1® – to launch onto the world stage ahead of its Grand Prix debut in Melbourne, Australia (March 6-8).Shortly after the ad appeared on TV, a replica of the first Cadillac Formula 1® Team car was unveiled in dynamic fashion in Times Square, the busiest destination in the United States, giving fans a front-row view of the color scheme.The Cadillac Formula 1® Team car is dual color, with one black side and one white side. The design gradient, which evokes speed when the car is stationary, is actually a Cadillac chevron repeating: a subtle nod to the co-ownership of General Motors and the iconic Cadillac symbol. Drawing on cinematic craft and musical restraint, the livery reveal film is directed by Sam Piling, whose work is known for turning simple ideas into visceral, high-impact visual statements, and scored by Max Richter, one of the world's most influential contemporary composers. The livery uses asymmetry as a deliberate design philosophy: a yin-and-yang balance expressed through stark black and white, where grit, determination, and performance meet aspiration, optimism and ambition."This livery represents far more than a paint scheme; it represents who we are and what we bring to Formula 1,'' said Dan Towriss, CEO of Cadillac Formula 1 Team Holdings. "Every detail is intentional: bold, modern, and unmistakably American, while respecting the heritage and precision that define this sport. Choosing to reveal our first race livery during the Super Bowl and in the heart of Times Square is a way to introduce our identity to the world at the intersection of performance, culture, and entertainment, and to connect with fans in places far beyond the paddock.''"Unveiling our official race livery is a huge milestone in a journey that started years ago — earning our place on the grid, assembling a world-class team, and developing a race car worthy of Formula 1," said GM President Mark Reuss. "The momentum is building toward Melbourne and our Grand Prix debut. For GM, this race car showcases the American innovation, spirit, and pride we want to bring to the global stage of F1."The team will compete at the pinnacle of motorsport over 24 races in 2026, visiting the world's most iconic and historic racetracks, including three venues on American soil: the Miami International Autodrome (May 1-3), the Circuit of The Americas in Austin (Oct. 23-25) and the Las Vegas Strip Circuit (November 20-22).Graeme Lowdon, Team Principal of the Cadillac Formula 1® Team, added: "I'm incredibly proud to reveal the colors of our 2026 Formula 1 challenger. We are a team built on bold ambition and leadership in innovation, values which we exhibited today by tapping into one of the most culturally significant sporting events in the world in a manner that has never been done by a Formula 1 team before."The team, which has bases in Indianapolis, Indiana (USA), Charlotte, North Carolina (USA), and Silverstone, Northamptonshire (UK), has been built from the ground up. Established in partnership between TWG Motorsports, the motorsport arm of TWG Global, and General Motors (GM), it aims to bring together a legacy of engineering excellence and a shared commitment to innovation and performance. Both TWG and GM provide valuable technical, operational, and commercial support, know-how, and infrastructure to the Cadillac Formula 1® Team.On track, Checo Pérez and Valtteri Bottas will lead the team as its first Grand Prix drivers. The pair, who hail from Guadalajara, Mexico, and Nastola, Finland, respectively, boast 526 starts, 106 podium finishes, and 16 victories, making them one of the most experienced and successful driver pairing on the grid. The 2026 driver lineup also includes former Ferrari and Sauber driver, Zhou Guanyu, who will serve as Reserve Driver, and nine-time NNT INDYCAR SERIES race winner Colton Herta, who will be the team's Test Driver – duties for which he will balance with a seat in Formula 2, the final step on the FIA's single-seater ladder before Formula 1®, with Hitech TGR.About Cadillac Formula 1® Team
The Cadillac Formula 1® Team is a specialist motor racing team competing in the FIA Formula 1 World Championship. Backed by TWG Motorsports and General Motors, the team has operations in Indianapolis, Indiana (USA); Charlotte, North Carolina (USA); and Silverstone, Northamptonshire (UK). With the confidence to dream big and the passion to deliver, the Cadillac Formula 1® Team is building everything from the ground up – from high-performance race cars to an inclusive, values-driven culture. The team will make its Formula 1® debut in 2026.About TWG Motorsports
TWG Motorsports is the motorsports entity of TWG Global, unifying a robust racing portfolio across the world's biggest stages in Formula 1®, INDYCAR, Formula E, IMSA, and NASCAR. With strategic partnerships that include General Motors on the Cadillac Formula 1® Team and ownership of Andretti Global, Wayne Taylor Racing and Spire Motorsports, TWG Motorsports combines deep technical expertise, proven competitive excellence and industry-leading business acumen. TWG Motorsports is committed to innovating, growing and winning at the highest levels of the sport.Learn more at TWGMotorsports.com.About GM
General Motors (NYSE: GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. GM Motorsports, including the Cadillac Formula 1® Team develops and proves advanced technologies in the most demanding environments, accelerating innovation in performance, safety, efficiency, and electrification for its production vehicles. Cadillac Racing is one of the leading manufacturers in the IMSA and FIA World Endurance Championships (WEC). Chevrolet competes in single seaters in the US IndyCar series, and in NASCAR with multiple team partners and drivers. Corvette customer teams compete in GT series across the globe including IMSA and WEC.Learn more at GM.com.


























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Original: CADILLAC FORMULA 1® TEAM REVEALS HISTORIC FIRST LIVERY

Semiconductor Shares Poised to Drive Early Gains on Wall Street: Dow Jones, S&P, Nasdaq, FuturesJanuary 28, 2026 2:20 PM
IH Market News
U.S. equity futures pointed to a firmer open on Wednesday, setting the stage for stocks to build on gains from the previous two sessions, with semiconductor names once again expected to lead the advance.Chip-related stocks were among the strongest performers on Tuesday, and that momentum looked set to continue in early trading. U.S.-listed shares of ASML (NASDAQ:ASML) jumped about 5% in premarket action after the Dutch semiconductor equipment group delivered strong fourth-quarter results and issued upbeat guidance for 2026.Elsewhere in the sector, South Korea’s SK Hynix surged in overseas trading after the memory chipmaker reported better-than-expected fourth-quarter earnings and posted a record full-year profit for 2025.Sentiment also received a boost from a Reuters report indicating that China has approved purchases of Nvidia’s (NASDAQ:NVDA) H200 artificial intelligence chips by some of the country’s largest technology groups. Nvidia shares rose around 1.6% in premarket trading. Citing four people familiar with the matter, Reuters said Alibaba (NYSE:BABA), ByteDance and Tencent have been cleared to buy more than 400,000 H200 chips in total.Overall trading volumes may remain relatively light, however, as investors look ahead to the Federal Reserve’s monetary policy decision later in the day. While the central bank is widely expected to keep interest rates unchanged, markets will be watching the voting breakdown and accompanying statement for clues on the future path of rates.Attention will also turn to earnings after the closing bell, with tech heavyweights Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META) and Tesla (NASDAQ:TSLA) all due to report quarterly results.On Tuesday, the major U.S. indexes finished mixed. The Nasdaq and the S&P 500 pushed higher, while the Dow Jones Industrial Average retreated sharply. The Nasdaq climbed 215.74 points, or 0.9%, to a near three-month closing high of 23,817.10, and the S&P 500 added 28.37 points, or 0.4%, to end at a record 6,978.60. In contrast, the Dow fell 408.99 points, or 0.8%, to close at 49,003.41, despite recovering from deeper losses earlier in the session.Strength in the broader market reflected optimism ahead of earnings from major technology companies, including Microsoft, Apple (AAPL) and Meta Platforms. Microsoft shares rose 2.2%, Apple gained 1.1%, and Meta edged modestly higher.Positive sentiment was also supported by upbeat results from companies such as General Motors (NYSE:GM) and UPS (NYSE:UPS). On the downside, the Dow was weighed down by a sharp sell-off in UnitedHealth (NYSE:UNH), whose shares plunged 19.6% after the insurer issued disappointing revenue guidance despite posting slightly better-than-expected fourth-quarter earnings. A Trump administration proposal calling for near-flat rates for Medicare Advantage insurers also pressured the sector.In economic data, the Conference Board reported an unexpectedly steep drop in U.S. consumer confidence in January. Its consumer confidence index fell to 84.5 from an upwardly revised 94.2 in December, confounding expectations for a rise to 90.0 and marking the lowest reading since May 2014.Sector-wise, semiconductor stocks posted a strong rally, with the Philadelphia Semiconductor Index surging 2.4% to a new record closing high. Computer hardware and networking stocks also advanced, helping lift the tech-heavy Nasdaq. Outside of technology, oil service stocks rose sharply alongside crude prices, pushing the Philadelphia Oil Service Index up 2.0%. By contrast, healthcare, airline and housing stocks came under notable selling pressure.ASML Holding stock priceNvidia stock priceMicrosoft stock priceMeta stock priceTesla stock priceUnited Parcel Service stock priceUnitedHealth Group stock price

Original: Semiconductor Shares Poised to Drive Early Gains on Wall Street: Dow Jones, S&P, Nasdaq, Futures

Futures rise on tech earnings optimism despite UnitedHealth plunge ahead of Fed decision — Dow Jones, S&P 500 and NasdaqJanuary 27, 2026 2:11 PM
IH Market News
Dow Jones, S&P 500 and Nasdaq futures are currently pointing to a higher open on Tuesday, with stocks likely to see further upside following the strength seen in the previous session.Tech stocks may help to lead an early advance on Wall Street, as reflected by the 0.6 percent increase by the tech-heavy Nasdaq 100 futures.Traders remain optimistic ahead of the release of earnings news from big-name tech companies like Apple (NASDAQ:AAPL), Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT).Shares of Apple are jumping by 1.6 percent in pre-market trading after surging by 3.0 percent on Monday, while Meta and Microsoft may also see further upside after moving notably higher in the previous session.Positive sentiment may also be generated in reaction to upbeat earnings news from big-name companies like General Motors (NYSE:GM) and UPS (NYSE:UPS).On the other hand, a slump by shares of UnitedHealth (NYSE:UNH) is likely to weigh on the Dow, with the health insurance giant plunging by 15.7 percent in pre-market trading.The steep drop by UnitedHealth comes after the company reported slightly better than expected fourth quarter earnings but provided disappointing revenue guidance.A Trump administration proposal calling for nearly flat rates for Medicare Advantage insurers is also likely to weigh on insurance stocks.Following the mixed performance seen during last Friday’s session, stocks moved mostly higher during trading on Monday. With the upward move, the major averages further offset the steep drop seen last Tuesday.The major averages moved to the downside going into the end of the day but remained in positive territory. The Dow advanced 313.69 points or 0.6 percent to 49,412.40, the Nasdaq rose 100.11 points or 0.4 percent to 23,601.36 and the S&P 500 climbed 34.62 points or 0.5 percent to 6,950.23.The strength on Wall Street came amid strong gains by Apple, Meta Platforms and Microsoft, which moved higher ahead of the release of their quarterly results later this week.Shares of Apple surged by 3.0 percent, shares of Meta jumped by 2.1 percent and shares of Microsoft advanced by 0.9 percent.However, traders seemed reluctant to make more significant moves ahead of the Federal Reserve’s monetary policy announcement on Wednesday.While the Fed is widely expected to leave interest rates unchanged, traders will pay close attention to the accompanying statement for clues about the outlook for rates.Traders also kept an eye on the latest geopolitical developments, with President Donald Trump threatening to impose a 100 percent tariff on goods from Canada over a potential free trade deal with China.Canadian Prime Minister Mark Carney responded by saying his country has no intention of pursuing such a deal.The U.S. government is also facing the possibility of another shutdown, as several Democratic senators have threatened to oppose a spending bill if it includes appropriations for the Department of Homeland Security.The impasse over DHS funding comes after federal immigration agents shot and killed another U.S. citizen in Minneapolis over the weekend.In U.S. economic news, a report released by the Commerce Department showed new orders for U.S. manufactured durable goods surged by much more than expected in the month of November.Networking stocks turned in some of the market’s best performances on the day, with the NYSE Arca Networking Index jumping by 2.0 percent.Notable strength was also visible among software stocks, as reflected by the 1.1 percent gain posted by the Dow Jones U.S. Software Index (DOWI:DJUSSW).On the other hand, steel stocks showed a significant move to the downside, dragging the NYSE Arca Steel index down by 2.2 percent.Airline stocks also saw considerable weakness on the day, resulting in a 1.5 percent loss by the NYSE Arca Airline Index.

Original: Futures rise on tech earnings optimism despite UnitedHealth plunge ahead of Fed decision — Dow Jones, S&P 500 and Nasdaq

GM releases 2025 financial results and 2026 guidance; Board declares dividend at 20% higher quarterly rate, and approves new $6.0 billion share repurchase authorizationJanuary 27, 2026 11:30 AM
PR Newswire (US)

DETROIT, Jan. 27, 2026 /PRNewswire/ -- General Motors (NYSE: GM) today reported full-year 2025 net income attributable to stockholders of $2.7 billion and EBIT-adjusted of $12.7 billion. Fourth-quarter 2025 net income attributable to stockholders was a loss of $3.3 billion and EBIT-adjusted was $2.8 billion.Fourth-quarter net income was reduced by more than $7.2 billion in special charges driven primarily by a realignment of electric vehicle capacity and investments to adjust to expected declines in consumer demand for EVs, and in response to U.S. Government policy changes including the termination of consumer incentives and the reduction in the stringency of emissions regulations.The chart below summarizes GM's 2025 financial guidance and 2025 results, as well as the company's 2026 guidance, which is for a year of strong financial performance.
Final 2025 Guidance2025 Results2026 GuidanceNet income attributable to stockholders$7.7 billion - $8.3 billion$2.7 billion$10.3 billion - $11.7 billionEBIT-adjusted$12.0 billion - $13.0 billion$12.7 billion$13.0 billion - $15.0 billionAutomotive operating cash flow$19.2 billion - $21.2 billion$18.7 billion$19.0 billion - $23.0 billionAdjusted automotive free cash flow$10.0 billion - $11.0 billion$10.6 billion$9.0 billion - $11.0 billionEPS-diluted$8.30 - $9.05$3.27$11.00 - $13.00EPS-diluted-adjusted$9.75 - $10.50$10.60$11.00 - $13.00



GM's 2026 financial guidance also includes anticipated capital spending of $10.0 billion - $12.0 billion, inclusive of the company's battery cell manufacturing joint ventures.Higher quarterly dividend rate and share repurchase authorization
GM announced today that its Board of Directors has approved a $0.03 per share increase in the quarterly common stock dividend rate to $0.18 per share. GM declared a quarterly cash dividend on the company's outstanding common stock at the new rate of $0.18 per share, payable March 19, 2026 to holders of common stock at the close of trading on March 6, 2026.The company also announced that its Board has approved a new $6.0 billion share repurchase authorization."For several years now, GM's strong brands and winning vehicles, as well as our technology-driven services and operating discipline, have delivered consistently strong cash generation. This has allowed us to execute all phases of our capital allocation strategy, from investing in the business and our people, to maintaining a strong balance sheet and returning capital to shareholders," said Mary Barra, Chair and CEO. "We believe that formula is sustainable, which is why we're increasing our dividend and planning future share repurchases."The share repurchase program, which has no expiration date, will be executed in accordance with applicable securities laws and regulations and may be suspended or discontinued at any time at the company's discretion.As of December 31, 2025, the company had 904 million shares outstanding, down from 995 million at the end of 2024, and 1.2 billion at the end of 2023. An overview of quarterly and yearly results and financial highlights appears below. Visit the GM Investor Relations website to download the company's earnings deck and GM Chair and CEO Mary Barra's Letter to Shareholders.Conference call for investors and analystsMary Barra and GM Chief Financial Officer Paul Jacobson will host a conference call for the investment community at 8:30 a.m. ET today to discuss these results.Conference call details are as follows:1-800-857-9821 (U.S.)1-517-308-9481 (international/caller-paid)Conference call passcode: General MotorsAn audio replay will be available on the GM Investor Relations website in the Events section.Results Overview
Three Months Ended

$M except per share amountsDecember 31,
2025December 31,
2024Change% ChangeRevenue$   45,287$   47,702$     (2,415)(5.1) %Net income (loss) attributable to stockholders$    (3,310)$    (2,961)$        (349)(11.8) %EBIT-adjusted$     2,843$     2,509$         33413.3 %Net income margin(7.3) %(6.2) %(1.1) ppts(17.7) %EBIT-adjusted margin6.3 %5.3 %1.0 ppts18.9 %Automotive operating cash flow$     5,606$     4,765$         84117.6 %Adjusted automotive free cash flow$     2,755$     1,823$         93351.2 %EPS-diluted(a)$      (3.60)$      (1.64)$       (1.96)n.m.EPS-diluted-adjusted$       2.51$       1.92$        0.5830.4 %GMNA EBIT-adjusted$     2,244$     2,274$          (30)(1.3) %GMNA EBIT-adjusted margin6.1 %5.8 %0.3 ppts5.2 %GMI EBIT-adjusted$        278$        221$           5625.4 %China equity income (loss)$       (513)$    (4,060)$      3,54787.4 %GM Financial EBT-adjusted$        609$        719$        (109)(15.2) %__________(a) n.m. = not meaningful 
Years Ended

$M except per share amountsDecember 31,
2025December 31,
2024Change% ChangeRevenue$  185,019$  187,442$       (2,422)(1.3) %Net income attributable to stockholders$      2,697$      6,008$       (3,311)(55.1) %EBIT-adjusted$    12,747$    14,934$       (2,187)(14.6) %Net income margin1.5 %3.2 %(1.7) ppts(53.1) %EBIT-adjusted margin6.9 %8.0 %(1.1) ppts(13.8) %Automotive operating cash flow$    18,733$    23,939$       (5,206)(21.7) %Adjusted automotive free cash flow$    10,595$    14,045$       (3,450)(24.6) %EPS-diluted$        3.27$        6.37$         (3.10)(48.7) %EPS-diluted-adjusted$      10.60$      10.60$             —— %GMNA EBIT-adjusted$    10,452$    14,528$       (4,077)(28.1) %GMNA EBIT-adjusted margin6.8 %9.2 %(2.4) ppts(26.1) %GMI EBIT-adjusted(a)$         737$         303$           434n.m.China equity income (loss)$        (316)$     (4,407)$        4,09192.8 %GM Financial EBT-adjusted$      2,802$      2,965$          (163)(5.5) %__________(a) n.m. = not meaningful
General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgment about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.Final 2025 Guidance ReconciliationsThe following table reconciles expected Net income attributable to stockholders to expected EBIT-adjusted (dollars in billions):
Year Ending
December 31, 2025Net income attributable to stockholders$ 7.7-8.3Income tax expense1.8-2.2Automotive interest income, net(0.1)Adjustments(a)2.6EBIT-adjusted$ 12.0-13.0The following table reconciles expected automotive net cash provided by operating activities to expected adjusted automotive free cash flow (dollars in billions):
Year Ending
December 31, 2025Net automotive cash provided by operating activities$ 19.2-21.2Less: Capital expenditures10.0-11.0Adjustments(a)0.8Adjusted automotive free cash flow$ 10.0-11.0The following table reconciles expected EPS-diluted to expected EPS-diluted-adjusted:
Year Ending
December 31, 2025Diluted earnings per common share$ 8.30-9.05Adjustments(a)1.45EPS-diluted-adjusted$ 9.75-10.50__________(a)Adjustments as of September 30, 2025. See our Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 for full details. We do not consider the potential future impact of adjustments on our expected financial results.

2026 Guidance ReconciliationsThe following table reconciles expected Net income attributable to stockholders to expected EBIT-adjusted (dollars in billions):
Year Ending December 31, 2026Net income attributable to stockholders$ 10.3-11.7Income tax expense2.6-3.2Automotive interest expense, net0.1EBIT-adjusted(a)$ 13.0-15.0The following table reconciles expected automotive net cash provided by operating activities to expected adjusted automotive free cash flow (dollars in billions):
Year Ending
December 31, 2026Net automotive cash provided by operating activities$ 19.0-23.0Less: Capital expenditures10.0-12.0Adjusted automotive free cash flow(a)$ 9.0-11.0__________(a) We do not consider the potential future impact of adjustments on our expected financial results. General Motors Company and Subsidiaries1Combining Income Statement Information(In millions) (Unaudited)

Year Ended December 31, 2025
Year Ended December 31, 2024
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
CombinedNet sales and revenue


















Automotive$  167,970
$     1
$       —
$                —
$ 167,971
$  171,605
$  257
$       —
$             (256)
$ 171,606GM Financial—
—
17,060
(12)
17,048
—
—
15,875
(40)
15,836Total net sales and revenue 167,970
1
17,060
(12)
185,019
171,605
257
15,875
(296)
187,442Costs and expenses


















Automotive and other cost of
   sales158,968
163
—
(3)
159,128
148,501
2,566
—
(3)
151,065GM Financial interest,
   operating, and other
   expenses—
—
14,296
(1)
14,295
—
—
12,974
(1)
12,972Automotive and other selling,
   general, and administrative
   expense8,580
111
—
(4)
8,687
9,898
727
—
(4)
10,621Total costs and expenses167,548
274
14,296
(8)
182,110
158,399
3,293
12,974
(8)
174,658Operating income (loss)422
(273)
2,764
(4)
2,909
13,206
(3,036)
2,902
(288)
12,784Automotive interest expense724
30
—
(27)
727
845
189
—
(189)
846Interest income and other non-
   operating income, net1,557
2
(1)
(23)
1,535
1,124
35
(1)
99
1,257Equity income (loss)(639)
—
39
—
(600)
(4,419)
—
(256)
—
(4,675)Income (loss) before income
   taxes617
(301)
2,802
—
3,117
9,065
(3,191)
2,645
—
8,519Income tax expense (benefit)







338








2,556Net income (loss)







2,780








5,963Net loss (income) attributable to
   noncontrolling interests







(83)








45Net income (loss) attributable
   to stockholders







$    2,697








$    6,008



















Net income (loss) attributable
   to common stockholders







$    3,180








$    7,189__________
  1 Certain columns and rows may not add due to rounding. Basic and Diluted Earnings per Share(Unaudited)
The following table summarizes basic and diluted earnings per share (in millions, except per share amounts):

Three Months Ended
Years Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024Basic earnings per share






Net income (loss) attributable to stockholders$           (3,310)
$           (2,961)
$             2,697
$             6,008Adjustments(a)(20)
1,236
483
1,181Net income (loss) attributable to common stockholders$           (3,330)
$           (1,725)
$             3,180
$             7,189







Weighted-average common shares outstanding925
1,055
955
1,115







Basic earnings per common share$             (3.60)
$             (1.64)
$               3.33
$               6.45Diluted earnings per share






Net income (loss) attributable to common stockholders –
   diluted$           (3,330)
$           (1,725)
$             3,180
$             7,189







Weighted-average common shares outstanding – diluted925
1,055
973
1,129







Diluted earnings per common share$             (3.60)
$             (1.64)
$               3.27
$               6.37Potentially dilutive securities(b)30
36
—
—__________(a)Includes returns from preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders of $593 million in the year ended December 31, 2025 and $1.2 billion in the three months and year ended December 31, 2024.(b)Potentially dilutive securities attributable to outstanding stock options, restricted stock units, and performance stock units at December 31, 2025 and 2024 were excluded from the computation of diluted EPS because the securities would have had an antidilutive effect. General Motors Company and Subsidiaries1Combining Balance Sheet Information(In millions, except per share amounts) (Unaudited)

December 31, 2025
December 31, 2024
Automotive
Cruise
GM Financial
Reclassifications/
Eliminations
Combined
Automotive
Cruise
GM Financial
Reclassifications/
Eliminations
CombinedASSETS


















Current Assets


















Cash and cash equivalents$ 15,062
$     56
$     5,826
$              —
$  20,945
$ 14,470
$   308
$     5,094
$              —
$  19,872Marketable debt securities6,685
—
39
—
6,724
7,265
—
—
—
7,265Accounts and notes receivable, net(a)12,199
76
1,506
(727)
13,054
11,498
22
1,988
(681)
12,827GM Financial receivables, net(d)—
—
45,661
(395)
45,266
—
—
46,760
(398)
46,362Inventories 14,472
—
—
(5)
14,467
14,569
—
—
(5)
14,564Other current assets3,167
9
5,130
6
8,312
2,816
38
4,799
2
7,655Total current assets51,585
141
58,162
(1,120)
108,767
50,618
369
58,640
(1,082)
108,545Non-current Assets


















GM Financial receivables, net(c)—
—
44,384
—
44,384
—
—
46,750
(276)
46,474Equity in net assets of nonconsolidated
     affiliates4,564
—
1,117
—
5,681
5,896
—
1,206
—
7,102Property, net 51,458
99
126
—
51,683
51,729
69
107
—
51,904Goodwill and intangible assets, net 3,018
—
1,348
—
4,366
2,642
570
1,339
—
4,551Equipment on operating leases, net—
—
33,686
—
33,686
—
—
31,586
—
31,586Deferred income taxes24,446
—
(1,486)
—
22,960
21,149
1,899
(1,795)
—
21,254Other assets(b)8,226
47
1,483
—
9,756
9,340
41
1,323
(2,359)
8,346Total non-current assets91,712
147
80,658
—
172,517
90,756
2,579
80,516
(2,635)
171,216Total Assets$  143,297
$   288
$  138,820
$        (1,120)
$ 281,284
$  141,374
$ 2,948
$  139,156
$        (3,717)
$ 279,761LIABILITIES AND EQUITY


















Current Liabilities


















Accounts payable (principally trade)(a)$ 24,075
$      1
$        491
$          (649)
$  23,919
$ 25,446
$   200
$        714
$          (681)
$  25,680Short-term debt and current portion of
     long-term debt


















  Automotive(a)(d)1,120
7
—
(471)
656
2,413
7
—
(279)
2,141  GM Financial—
—
35,012
—
35,012
—
—
37,291
—
37,291  Cruise(d)—
—
—
—
—
—
119
—
(119)
—Accrued liabilities28,956
54
4,744
—
33,754
24,949
548
5,661
(4)
31,154Total current liabilities54,151
63
40,248
(1,120)
93,342
52,808
874
43,666
(1,082)
96,265Non-current Liabilities


















Long-term debt


















  Automotive(b)15,522
70
—
—
15,591
13,288
2,397
—
(2,359)
13,327  GM Financial —
—
79,018
—
79,018
—
—
76,973
—
76,973  Cruise(c)—
—
—
—
—
—
276
—
(276)
—Postretirement benefits other than
     pensions4,025
—
—
—
4,025
3,990
—
—
—
3,990Pensions 4,977
—
11
—
4,988
5,772
—
7
—
5,779Other liabilities17,495
281
3,375
—
21,151
14,635
297
2,904
—
17,836Total non-current liabilities42,019
351
82,404
—
124,775
37,686
2,970
79,885
(2,635)
117,906Total Liabilities96,170
414
122,652
(1,120)
218,116
90,494
3,844
123,551
(3,717)
214,171Equity


















 Common stock, $0.01 par value9
—
—
—
9
10
—
—
—
10 Additional paid-in capital(e)18,086
1,842
1,077
(1,076)
19,928
19,632
1,187
1,196
(1,172)
20,843 Retained earnings37,024
(1,968)
16,467
1
51,524
40,203
(2,647)
15,916
1
53,472 Accumulated other comprehensive loss(8,966)
—
(1,377)
—
(10,343)
(9,744)
(3)
(1,506)
—
(11,253) Total stockholders' equity46,153
(126)
16,167
(1,075)
61,119
50,100
(1,464)
15,606
(1,170)
63,072 Noncontrolling interests(e)974
—
—
1,075
2,049
780
568
—
1,170
2,518Total Equity47,127
(126)
16,167
—
63,168
50,880
(896)
15,606
—
65,590Total Liabilities and Equity$  143,297
$   288
$  138,820
$        (1,120)
$ 281,284
$  141,374
$ 2,948
$  139,156
$        (3,717)
$ 279,761__________(a)Eliminations primarily include GM Financial accounts and notes receivable of $0.5 billion due from Automotive; and Automotive accounts receivable of $0.1 billion primarily due from GM Financial at December 31, 2025; and GM Financial accounts and notes receivable of $0.5 billion due from Automotive and Automotive accounts receivable of $0.2 billion due from GM Financial and Cruise at December 31, 2024.(b)Eliminations primarily related to convertible note issued by Cruise to Automotive at December 31, 2024 and deferral agreement between Cruise and Automotive as regards to engineering, capital spending, restructuring, and other costs incurred by Automotive on behalf of Cruise resulting in a long-term payable for Cruise offset by a long-term receivable for Automotive.(c)Eliminations primarily related to intercompany loans due from Cruise to GM Financial.(d)Eliminations primarily related to GM Financial accounts receivables due from Automotive and Cruise.(e)Primarily reclassification of GM Financial Cumulative Perpetual Preferred Stock, Series A, B and C. The preferred stock is classified as noncontrolling interests in our consolidated balance sheets. General Motors Company and Subsidiaries1Combining Cash Flow Information(In millions) (Unaudited)

Year Ended December 31, 2025
Year Ended December 31, 2024
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
CombinedCash flows from operating activities


















Net income (loss)$   1,081
$ (302)
$ 2,000
$              —
$   2,780
$   6,637
$ (2,535)
$  1,862
$              —
$   5,963Depreciation and impairment of Equipment on
     operating leases, net—
—
4,942
—
4,942
—
—
4,844
—
4,844Depreciation, amortization and impairment
     charges on Property, net9,584
29
34
—
9,646
6,549
958
38
—
7,545Foreign currency remeasurement and
     transaction (gains) losses353
—
10
—
363
(314)
—
(7)
—
(321)Undistributed earnings and impairment of
     nonconsolidated affiliates, net1,662
—
123
—
1,785
3,708
—
411
—
4,118Pension contributions and OPEB payments(537)
—
(1)
—
(539)
(1,517)
—
—
—
(1,518)Pension and OPEB (income) expense, net27
—
2
—
29
88
—
2
—
89Provision (benefit) for deferred taxes(1,715)
—
466
—
(1,249)
966
(656)
1,059
—
1,368Change in other operating assets and
     liabilities(a)5,748
(557)
1,243
2,623
9,056
4,978
693
(896)
(6,304)
(1,529)Other operating activities(c)2,532
(144)
(840)
(1,495)
54
2,846
(693)
(883)
(1,703)
(433)Net cash provided by (used in) operating
   activities18,733
(973)
7,979
1,128
26,867
23,939
(2,233)
6,429
(8,006)
20,129Cash flows from investing activities


















Expenditures for property(9,241)
(10)
(51)
—
(9,303)
(10,711)
(7)
(24)
(88)
(10,830)Available-for-sale marketable securities,
     acquisitions(2,303)
—
(37)
—
(2,339)
(3,986)
—
—
—
(3,986)Available-for-sale marketable securities,
     liquidations3,010
—
2
—
3,012
4,331
—
—
—
4,331Purchases of finance receivables(a)—
—
(36,752)
7
(36,745)
—
—
(42,792)
6,444
(36,348)Principal collections and recoveries on finance
     receivable(a)(b)—
—
38,004
(2,894)
35,109
—
—
31,783
1
31,784Proceeds from sale of finance receivables—
—
2,005
—
2,005
—
—
—
—
—Purchases of leased vehicles—
—
(15,793)
—
(15,793)
—
—
(15,279)
—
(15,279)Proceeds from termination of leased vehicles—
—
10,095
—
10,095
—
—
10,892
—
10,892Other investing activities(b)(3,229)
—
—
1,054
(2,175)
(2,448)
—
2
1,365
(1,081)Net cash provided by (used in) investing
   activities(11,763)
(10)
(2,527)
(1,834)
(16,134)
(12,813)
(7)
(15,418)
7,721
(20,517)Cash flows from financing activities


















Net increase (decrease) in short-term debt(11)
—
(301)
—
(312)
16
—
112
—
128Proceeds from issuance of debt (original
     maturities greater than three months)(b)2,078
723
41,135
(746)
43,191
83
1,118
53,398
(1,165)
53,435Payments on debt (original maturities greater
     than three months)(1,923)
(6)
(43,662)
—
(45,591)
(919)
(8)
(42,478)
6
(43,399)Payments to purchase common stock(6,012)
—
—
—
(6,012)
(7,064)
—
—
—
(7,064)Issuance (redemption) of subsidiary stock(b)—
—
—
(29)
(29)
—
255
—
(356)
(101)Dividends paid(c)(538)
—
(1,599)
1,480
(657)
(534)
—
(1,919)
1,800
(653)Other financing activities(42)
—
(138)
—
(180)
(82)
(161)
(164)
—
(407)Net cash provided by (used in) financing
   activities(6,449)
717
(4,563)
705
(9,590)
(8,501)
1,204
8,950
285
1,938Effect of exchange rate changes on cash, cash
     equivalents, and restricted cash103
1
73
—
177
(374)
—
(128)
—
(503)Net increase (decrease) in cash, cash
     equivalents, and restricted cash624
(266)
962
—
1,320
2,251
(1,037)
(167)
—
1,047Cash, cash equivalents, and restricted cash at
     beginning of period14,561
322
8,081
—
22,964
12,310
1,359
8,249
—
21,917Cash, cash equivalents, and restricted cash at
     end of period$ 15,185
$    56
$ 9,043
$              —
$ 24,284
$ 14,561
$     322
$  8,081
$              —
$ 22,964__________(a)Includes eliminations of $2.6 billion and $6.4 billion in the years ended December 31, 2025 and 2024 primarily driven by purchases/collections of wholesale finance receivables resulting from vehicles sold by GM to dealers that have arranged their inventory floor plan financing through GM Financial.(b)Eliminations include intercompany funding activity from Automotive and GM Financial to Cruise in the years ended December 31, 2025 and 2024.(c)Eliminations include dividends issued by GM Financial to Automotive in the years ended December 31, 2025 and 2024.
Note: Certain intercompany transactions that are eliminated in consolidation are presented on a net basis. The following tables summarize key financial information (dollars in millions):

GMNA
GMI
Corporate
Eliminations
TotalAutomotive
Cruise
GMFinancial
Reclassifications/
Eliminations
TotalThree Months Ended December 31, 2025
















Net sales and revenue$    36,893
$   4,029
$        65
$           (1)
$     40,986
$      —
$   4,304
$                  (3)
$      45,287Expenditures for property$      2,958
$      183
$        47
$           —
$       3,188
$        8
$       25
$                  —
$        3,220Depreciation and amortization$      1,556
$      119
$          4
$           —
$       1,679
$      —
$   1,275
$                  —
$        2,954Impairment charges$      1,527
$        20
$        —
$           —
$       1,547
$      —
$        —
$                  —
$        1,547Equity income (loss)(a)(b)$           89
$    (514)
$      (77)
$           —
$         (502)
$      —
$         2
$                  —
$         (500)


















GMNA
GMI
Corporate
Eliminations
TotalAutomotive
Cruise
GMFinancial
Reclassifications/
Eliminations
TotalThree Months Ended December 31, 2024
















Net sales and revenue$    39,528
$   3,994
$        76
$           —
$     43,598
$    181
$   4,114
$              (191)
$      47,702Expenditures for property$      3,046
$      157
$        12
$           —
$       3,215
$        2
$          8
$                   7
$        3,233Depreciation and amortization$      1,548
$      103
$        27
$           —
$       1,678
$        7
$   1,221
$                  —
$        2,905Impairment charges$            —
$         —
$        —
$           —
$            —
$    328
$        —
$                  —
$           328Equity income (loss)(a)(b)$         190
$  (4,057)
$        —
$           —
$     (3,867)
$       —
$     (311)
$                  —
$      (4,178)


















GMNA
GMI
Corporate
Eliminations
TotalAutomotive
Cruise
GMFinancial
Reclassifications/
Eliminations
TotalYear Ended December 31, 2025
















Net sales and revenue$  154,317
$ 13,427
$      227
$           (1)
$    167,970
$        1
$ 17,060
$                (12)
$    185,019Expenditures for property$      8,687
$      457
$        97
$           —
$       9,241
$      10
$        51
$                  —
$        9,303Depreciation and amortization$      6,489
$      466
$        43
$           —
$       6,999
$        5
$   4,976
$                  —
$      11,980Impairment charges$      2,571
$        38
$        —
$           —
$       2,609
$      —
$        —
$                  —
$        2,609Equity income (loss)(a)(b)$         558
$    (306)
$    (108)
$           —
$          145
$      —
$        39
$                  —
$           184


















GMNA
GMI
Corporate
Eliminations
TotalAutomotive
Cruise
GMFinancial
Reclassifications/
Eliminations
TotalYear Ended December 31, 2024
















Net sales and revenue$  157,509
$ 13,890
$      206
$           —
$    171,605
$    257
$ 15,875
$              (296)
$    187,442Expenditures for property$    10,266
$      415
$        30
$           —
$      10,711
$        7
$        24
$                 88
$      10,830Depreciation and amortization$      5,963
$      506
$        80
$           —
$        6,548
$      25
$   4,883
$                  —
$      11,456Impairment charges$           —
$        —
$        —
$           —
$             —
$    933
$        —
$                  —
$          934Equity income (loss)(a)(b)$         955
$ (4,400)
$        —
$           —
$      (3,445)
$      —
$    (256)
$                  —
$      (3,701)__________(a)Includes Automotive China joint ventures (Automotive China JVs) equity income (loss) of $(0.5) billion and $(0.3) billion in the three months and year ended December 31, 2025 and $(4.1) billion and $(4.4) billion in the three months and year ended December 31, 2024.(b)Equity income (loss) related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution, is presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our electric vehicles. Equity income (loss) related to Ultium Cells Holdings LLC was $319 million and $186 million in the three months ended December 31, 2025 and 2024 and $784 million and $975 million in the years ended December 31, 2025 and 2024.

General Motors Company and Subsidiaries
Supplemental Material1
(Unaudited)General Motors Company (GM) uses both generally accepted accounting principles (GAAP) and non-GAAP financial measures for operational and financial decision making, and to assess Company and segment business performance. Our non-GAAP measures include: earnings before interest and taxes (EBIT)-adjusted, presented net of noncontrolling interests; earnings before income taxes-adjusted (EBT-adjusted) for our General Motors Financial Company, Inc. (GM Financial) segment; earnings per share (EPS)-diluted-adjusted; effective tax rate-adjusted (ETR-adjusted); return on invested capital-adjusted (ROIC-adjusted) and adjusted automotive free cash flow. GM's calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.These non-GAAP measures allow management and investors to view operating trends, perform analytical comparisons, and benchmark performance between periods and among geographic regions to understand operating performance without regard to items we do not consider a component of our core operating performance. Furthermore, these non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve ROIC-adjusted. Management uses these measures in its financial, investment, and operational decision-making processes, for internal reporting, and as part of its forecasting and budgeting processes. Further, our Board of Directors uses certain of these and other measures as key metrics to determine management performance under our performance-based compensation plans. For these reasons, we believe these non-GAAP measures are useful for our investors.EBIT-adjusted (Most comparable GAAP measure: Net income attributable to stockholders)  EBIT-adjusted is presented net of noncontrolling interests and is used by management and can be used by investors to review our consolidated operating results because it excludes automotive interest income, automotive interest expense, and income taxes as well as certain additional adjustments that are not considered part of our core operations. Examples of adjustments to EBIT include, but are not limited to, impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions, and certain costs arising from legal matters. For EBIT-adjusted and our other non-GAAP measures, once we have made an adjustment in the current period for an item, we will also adjust the related non-GAAP measure in any future periods in which there is an impact from the item. Our corresponding measure for our GM Financial segment is EBT-adjusted because interest income and interest expense are an integral part of its financial performance.EPS-diluted-adjusted (Most comparable GAAP measure: Diluted earnings per common share)  EPS-diluted-adjusted is used by management and can be used by investors to review our consolidated diluted EPS results on a consistent basis. EPS-diluted-adjusted is calculated as net income attributable to common stockholders-diluted less adjustments noted above for EBIT-adjusted and certain income tax adjustments divided by weighted-average common shares outstanding-diluted. Examples of income tax adjustments include the establishment or release of significant deferred tax asset valuation allowances.ETR-adjusted (Most comparable GAAP measure: Effective tax rate)  ETR-adjusted is used by management and can be used by investors to review the consolidated effective tax rate for our core operations on a consistent basis. ETR-adjusted is calculated as Income tax expense less the income tax related to the adjustments noted above for EBIT-adjusted and the income tax adjustments noted above for EPS-diluted-adjusted divided by Income before income taxes less adjustments. When we provide an expected adjusted effective tax rate, we cannot provide an expected effective tax rate without unreasonable efforts because the U.S. GAAP measure may include significant adjustments that are difficult to predict.ROIC-adjusted (Most comparable GAAP measure: Return on equity)  ROIC-adjusted is used by management and can be used by investors to review our investment and capital allocation decisions. We define ROIC-adjusted as EBIT-adjusted for the trailing four quarters divided by ROIC-adjusted average net assets, which is the average equity balances adjusted for average automotive debt and interest liabilities, exclusive of finance leases; average automotive net pension and other postretirement benefits (OPEB) liabilities; and average automotive net income tax assets during the same period.Adjusted automotive free cash flow (Most comparable GAAP measure: Net automotive cash provided by operating activities)  Adjusted automotive free cash flow is used by management and can be used by investors to review the liquidity of our automotive operations and to measure and monitor our performance against our capital allocation program and evaluate our automotive liquidity against the substantial cash requirements of our automotive operations. We measure adjusted automotive free cash flow as automotive operating cash flow from operations less capital expenditures adjusted for management actions. Management actions can include voluntary events such as discretionary contributions to employee benefit plans or nonrecurring specific events such as a closure of a facility that are considered special for EBIT-adjusted purposes.General Motors Company and SubsidiariesSupplemental Material1(Unaudited)
The following table reconciles Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) (dollars in millions):

Three Months Ended
Years Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024Net income (loss) attributable to stockholders(a)$           (3,310)
$           (2,961)
$             2,697
$             6,008Income tax expense(989)
318
338
2,556Automotive interest expense167
215
727
846Automotive interest income(242)
(279)
(854)
(967)Adjustments






EV strategic realignment(b)5,992
—
7,914
—China restructuring actions(c)702
4,010
842
4,010Legal matters(d)357
—
657
—Cruise restructuring(e)133
520
223
1,103Separation costs(f)—
10
87
200GMI exit costs(g)28
4
61
150Headquarters relocation(h)5
30
55
64Buick dealer strategy(i)—
643
—
964Total adjustments7,217
5,217
9,839
6,491EBIT-adjusted2,843
2,509
12,747
14,934Operating segments






GM North America (GMNA)2,244
2,274
10,452
14,528GM International (GMI)278
221
737
303Cruise—
(418)
(273)
(1,701)GM Financial(j)609
719
2,802
2,965Total operating segments3,131
2,796
13,718
16,095Corporate and eliminations(k)(288)
(287)
(972)
(1,161)EBIT-adjusted$             2,843
$             2,509
$           12,747
$           14,934__________(a)Net of net loss (income) attributable to noncontrolling interests.(b)These adjustments were excluded because they relate to our strategic realignment of our EV capacity and manufacturing footprint. These adjustments include $0.3 billion that was recorded in the three months ended June 30, 2025 associated with Ultium's strategic realignment.(c)These adjustments were excluded because they relate to restructuring activities associated with our operations in China, including an other-than-temporary impairment and restructuring charges recorded in equity earnings associated with our Automotive China JVs.(d)These adjustments were excluded because they relate to investigations and litigation associated with our former OnStar Smart Driver product and an indemnification charge for a European-wide Takata Corporation related recall.(e)These adjustments were excluded because they relate to restructuring charges resulting from the plan to combine the Cruise and GM technical efforts to advance autonomous and assisted driving, the indefinite delay of the Cruise Origin, and the voluntary pausing in 2023 of Cruise's driverless, supervised, and manual AV operations in the U.S. The adjustments primarily consist of non-cash restructuring charges, supplier-related charges, and employee separation costs.(f)These adjustments were excluded because they relate to employee separation charges including the acceleration of attrition as part of the cost reduction program announced in January 2023, primarily in the U.S.(g)These adjustments were excluded because they primarily relate to the wind down of our manufacturing operations in Colombia and Ecuador and an asset sale resulting from our strategic decision in 2020 to exit India.(h)These adjustments were excluded because they relate to the GM headquarters relocation, primarily consisting of accelerated depreciation and other relocation expenditures.(i)These adjustments were excluded because they relate to strategic activities to transition certain Buick dealers out of our dealer network as part of Buick's EV strategy.(j)GM Financial amounts represent EBT-adjusted.(k)GM's automotive interest income and interest expense, corporate expenditures, legacy costs from the Opel/Vauxhall Business (primarily pension costs), and certain revenues and expenses that are not part of a reportable segment are recorded centrally in Corporate.

The following table reconciles diluted earnings per common share to EPS-diluted-adjusted (dollars in millions, except per share amounts):
Three Months Ended
Years Ended
December 31, 2025
December 31, 2024
December 31, 2025
December 31, 2024
Amount
Per Share
Amount
Per Share
Amount
Per Share
Amount
Per ShareDiluted earnings (loss) per common share$  (3,330)
$   (3.60)
$  (1,725)
$   (1.64)
$ 3,180
$    3.27
$ 7,189
$    6.37Impact of including dilutive securities(a)

0.09


0.03


—


—Adjustments(b)7,217
7.60
5,217
4.85
9,839
10.12
6,491
5.75Tax effect on adjustments(c)(1,509)
(1.59)
(187)
(0.17)
(2,115)
(2.17)
(477)
(0.42)Return from preferred shareholders(d)—
—
(1,239)
(1.15)
(593)
(0.61)
(1,239)
(1.10)EPS-diluted-adjusted$ 2,378
$    2.51
$ 2,066
$    1.92
$  10,311
$  10.60
$  11,963
$  10.60__________(a)Represents the dilutive effect of awards under stock incentive plans. Refer to the table below for the effect on weighted-average common shares outstanding — diluted-adjusted.(b)Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.(c)The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.(d)This adjustment consists of a return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the year ended December 31, 2025 and the three months and year ended December 31, 2024.

The following table reconciles weighted-average common shares outstanding — diluted to weighted-average common shares outstanding — diluted-adjusted used in the calculation of EPS-diluted-adjusted (shares in millions):
Three Months Ended
Years Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024Weighted-average common shares outstanding — diluted925
1,055
973
1,129Dilutive effect of awards under stock incentive plans24
20
—
—Weighted-average common shares outstanding — diluted-adjusted949
1,075
973
1,129
The following table reconciles our effective tax rate to ETR-adjusted (dollars in millions):
Years Ended December 31,
2025
2024
Income before
income taxes
Income tax
expense
Effective
tax rate
Income before
income taxes
Income tax
expense
Effective
tax rateEffective tax rate$         3,117
$       338
10.8 %
$         8,519
$    2,556
30.0 %Adjustments(a)9,839
2,115


6,564
477

ETR-adjusted$       12,956
$    2,453
18.9 %
$       15,083
$    3,033
20.1 %__________(a)Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details. These adjustments include Net income attributable to noncontrolling interests where applicable. The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.

We define return on equity (ROE) as Net income (loss) attributable to stockholders for the trailing four quarters divided by average equity for the same period. Management uses average equity to provide comparable amounts in the calculation of ROE. The following table summarizes the calculation of ROE (dollars in billions):
Years Ended December 31,
2025
2024Net income attributable to stockholders$          2.7
$          6.0Average equity(a)$        64.6
$        68.9ROE4.2 %
8.7 %__________(a)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in Net income attributable to stockholders.

The following table summarizes the calculation of ROIC-adjusted (dollars in billions):
Years Ended December 31,
2025
2024EBIT-adjusted(a)$        12.7
$        14.9Average equity(b)$        64.6
$        68.9Add: Average automotive debt and interest liabilities (excluding finance leases)16.2
16.1Add: Average automotive net pension and OPEB liability8.5
9.4Less: Average automotive net income tax asset(23.2)
(22.7)ROIC-adjusted average net assets$        66.0
$        71.8ROIC-adjusted19.3 %
20.8 %__________(a)Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.(b)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT-adjusted.

The following table reconciles Net automotive cash provided by operating activities to adjusted automotive free cash flow (dollars in millions):
Three Months Ended
Years Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024Net automotive cash provided by operating activities$         5,606
$         4,765
$       18,733
$       23,939Less: Capital expenditures(3,188)
(3,215)
(9,241)
(10,711)Add: Buick dealer strategy10
154
718
530Add: EV strategic realignment401
—
401
—Add: China restructuring actions207
—
217
—Add: Separation costs—
89
139
221Add: GMI exit costs—
30
12
65Less: Ultium strategic realignment(281)
—
(384)
—Adjusted automotive free cash flow$         2,755
$         1,823
$       10,595
$       14,045Vehicle SalesGM presents both wholesale and total vehicle sales data to assist in the analysis of our revenue and market share. Wholesale vehicle sales data consists of sales to GM's dealers and distributors, as well as sales to the U.S. Government, and excludes vehicles sold by our joint ventures. Wholesale vehicle sales data correlates to GM's revenue recognized from the sale of vehicles, which is the largest component of Automotive net sales and revenue. In the year ended December 31, 2025, 27.5% of GM's wholesale vehicle sales volume was generated outside the U.S. The following table summarizes wholesale vehicle sales by our Automotive operations (vehicles in thousands):
Three Months Ended
Years Ended
December 31, 2025
December 31, 2024
December 31, 2025
December 31, 2024GMNA780
876
3,296
3,464GMI157
163
503
547Total937
1,039
3,799
4,010
Total vehicle sales data represents: (1) retail sales (i.e., sales to consumers who purchase new vehicles from dealers or distributors); (2) fleet sales (i.e., sales to large and small businesses, governments, and daily rental car companies); and (3) certain vehicles used by dealers in their business, including but not limited to courtesy transportation vehicles previously used by dealers that were sold to the end consumer. Total vehicle sales data includes all sales by joint ventures on a total vehicle basis, not based on GM's percentage ownership interest in the joint venture, including vehicle sales of non-GM trademarked vehicles, which are included in the total vehicle sales we report for China. While total vehicle sales data does not correlate directly to the revenue GM recognizes during a particular period, we believe it is indicative of the underlying demand for GM's vehicles. Total vehicle sales data represents management's good faith estimate based on sales reported by GM's dealers, distributors, and joint ventures; commercially available data sources, such as registration and insurance data; and internal estimates and forecasts when other data is not available. The following table summarizes industry and GM total vehicle sales and GM's related competitive position by geographic region (vehicles in thousands):
Three Months Ended
Years Ended
December 31, 2025
December 31, 2024
December 31, 2025
December 31, 2024
Industry
GM
Market Share
Industry
GM
Market Share
Industry
GM
Market Share
Industry
GM
Market ShareNorth America






















United States4,097
703
17.2 %
4,329
755
17.4 %
16,631
2,853
17.2 %
16,356
2,705
16.5 %Other1,020
124
12.2 %
1,020
134
13.2 %
4,027
507
12.6 %
3,904
510
13.1 %Total North America5,117
827
16.2 %
5,349
889
16.6 %
20,658
3,361
16.3 %
20,260
3,215
15.9 %Asia/Pacific, Middle
   East, and Africa






















China(a)7,079
521
7.4 %
8,284
599
7.2 %
26,412
1,880
7.1 %
26,408
1,839
7.0 %Other5,701
169
3.0 %
5,610
139
2.5 %
22,368
538
2.4 %
21,876
522
2.4 %Total Asia/Pacific,
     Middle East, and
     Africa12,780
690
5.4 %
13,894
738
5.3 %
48,780
2,418
5.0 %
48,284
2,360
4.9 %South America






















Brazil779
84
10.8 %
776
92
11.9 %
2,688
276
10.3 %
2,634
315
12.0 %Other411
32
7.7 %
356
27
7.7 %
1,679
126
7.5 %
1,347
109
8.1 %Total South America1,190
116
9.7 %
1,132
119
10.5 %
4,367
403
9.2 %
3,981
424
10.7 %Total in GM markets19,087
1,633
8.6 %
20,375
1,747
8.6 %
73,805
6,182
8.4 %
72,524
6,000
8.3 %Total Europe4,312
—
— %
4,224
1
— %
16,925
2
— %
16,765
2
— %Total Worldwide(b)23,399
1,633
7.0 %
24,599
1,747
7.1 %
90,730
6,184
6.8 %
89,289
6,003
6.7 %United States






















Cars637
13
2.1 %
739
37
5.0 %
2,719
57
2.1 %
2,946
178
6.0 %Trucks1,178
402
34.1 %
1,199
396
33.1 %
4,592
1,517
33.0 %
4,336
1,383
31.9 %Crossovers2,282
288
12.6 %
2,392
322
13.5 %
9,320
1,280
13.7 %
9,074
1,144
12.6 %Total United States4,097
703
17.2 %
4,329
755
17.4 %
16,631
2,853
17.2 %
16,356
2,705
16.5 %China(a)






















SGMS

131




152




512




524

SGMW

390




447




1,368




1,315

Total7,079
521
7.4 %
8,284
599
7.2 %
26,412
1,880
7.1 %
26,408
1,839
7.0 %__________(a)Includes sales by the Automotive China JVs: SAIC General Motors Sales Co., Ltd. (SGMS) and SAIC GM Wuling Automobile Co., Ltd. (SGMW).(b)Cuba, Iran, North Korea, and Sudan have been subject to broad economic sanctions. Accordingly, these countries are excluded from industry sales data and corresponding calculation of market share.

As discussed above, total vehicle sales and market share data provided in the table above includes fleet vehicles. Certain fleet transactions, particularly sales to daily rental car companies, are generally less profitable than retail sales to end customers. The following table summarizes estimated fleet sales and those sales as a percentage of total vehicle sales (vehicles in thousands):
Three Months Ended
Years Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024GMNA170
168
667
615GMI150
127
427
401Total fleet sales320
295
1,094
1,016







Fleet sales as a percentage of total vehicle sales19.6 %
16.9 %
17.7 %
16.9 %







North America capacity two-shift utilization104.7 %
103.5 %
113.7 %
105.7 % 



View original content:https://www.prnewswire.com/news-releases/gm-releases-2025-financial-results-and-2026-guidance-board-declares-dividend-at-20-higher-quarterly-rate-and-approves-new-6-0-billion-share-repurchase-authorization-302670831.htmlSOURCE General Motors

Original: GM releases 2025 financial results and 2026 guidance; Board declares dividend at 20% higher quarterly rate, and approves new $6.0 billion share repurchase authorization

GM Streamlines Public Charging with Electrify AmericaJanuary 26, 2026 2:30 PM
PR Newswire (US)

The Electrify America network is now easily accessible for GM EV customers via the myChevrolet, myGMC, and myCadillac apps — further centralizing the charging experience. Drivers looking to charge at one of the 5,000+ DC-Fast chargers across the country can check charger availability, plan their routes, and pay for charging sessions utilizing their myBrand appDETROIT, Jan. 26, 2026 /PRNewswire/ -- GM is streamlining public charging because convenient access is at the heart of a great EV ownership experience. Now, you can find, charge, and pay at more than 5,000 Electrify America fast-charging stations, including Hyper-Fast 350-kW chargers, right from the myChevrolet, myGMC, or myCadillac app already on your phone.







With Electrify America built in, customers get a unified charging experience that eliminates the hassle of multiple apps and puts everything they need in one place. Owners can navigate to the Public Charging page in their myBrand app and look for supported networks, enabling fast and convenient charging while traveling throughout the U.S."We're collaborating across the industry to deliver not just more chargers, but better public charging experiences," said Wade Sheffer, vice president, GM Energy. "Our work with Electrify America helps make public charging easier to access for GM EV drivers."The integration supports GM's broader goal of connecting drivers to an expanding ecosystem of public charging infrastructure. Across the U.S. and Canada, GM drivers can access more than 250,000 public charging stations."As EV travel continues to grow, so does the need for convenient charging experiences," said Robert Barrosa, CEO and president of Electrify America. "Through this integration, GM EV drivers have more Hyper-Fast chargers to choose from and a seamless experience they can count on nationwide, helping them get to the places that matter." Through the myBrand apps, GM EV drivers can:Find charging stations nearby with real-time availabilityPlan routes and identify charging stops along the wayMonitor charging session statusPay for charging sessions directly in the appAs GM continues to scale its EV portfolio and charging ecosystem, GM Energy remains focused on collaboration and innovation to support the evolving needs of EV drivers.General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.About Electrify America Electrify America LLC, the largest open Hyper-Fast charging network in the U.S., is investing more than $2 billion in Zero-Emission Vehicle (ZEV) infrastructure and access. The investment enables millions of Americans to charge with confidence and discover the benefits of electric driving on our coast–to–coast network of highway and community chargers.Electrify America's Hyper-Fast network currently operates in 47 states and the District of Columbia, supporting increasing ZEV adoption with a network that is convenient, technologically advanced, and built for customers.Electrify Commercial® provides expert solutions for businesses looking to develop electric vehicle charging programs.For more information, visit www.electrifyamerica.com and media.electrifyamerica.com.










View original content to download multimedia:https://www.prnewswire.com/news-releases/gm-streamlines-public-charging-with-electrify-america-302670054.htmlSOURCE Electrify America, LLC

Original: GM Streamlines Public Charging with Electrify America

$GM General Motors: Recently let go of over 200 salaried employees, mostly engineers at its Michigan tech center, as it shifts focus toward electric and autonomous vehicles.

GM, new 52 week high, big gap last Friday

GM to become Google Motors?

GM, reports Tuesday

$NIO CNBC article carried Piper Sandler’s commentary stating that NIO “could be the ‘Tesla of China’” https://www.cnbc.com/2020/08/12/electric-vehicle-company-nio-could-be-the-tesla-of-china-piper-sandler-says.html $GM

CATL joins forces with $NIO to supercharge China's EV battery-swapping network
https://www.digitimes.com/news/a20250318PD227/catl-nio-ev-battery-battery-swap.html
$GM $NIO

Trump megabill axes $7,500 EV tax credit after September
https://www.cnbc.com/2025/07/01/trump-big-beautiful-bill-axes-7500-ev-tax-credit-after-september.html $GM

$GM has $134.16B of debt

NIO’s Profit Potential Just Surpassed Ford & GM – Here’s Why It Could Dominate by 2027
$NIO $GM

$GM should buy this EV maker for America https://www.nio.com/ $NIO

GM

General Motors (GM) has multiple factories in Mexico, including plants in Ramos Arizpe, Silao, San Luis Potosi, and Toluca, where they manufacture vehicles, engines, and transmissions for both domestic and international markets. $GM

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176001974 $GM

GM 10Q due 1/28

....

Auto Manufacturers $GM vs $NIO
https://hellostake.com/au/invest/wall-st/compare/nio-vs-gm

Maybe, maybe not. I think it is built in loss

Hold on.... GM to take $5B loss on China biz

Looks like we broke the 52 week high

GM 10Q due Oct 22

Looks like GM is going to try to break the record high of $50.50 again soon

Massive layoffs announced this morning as new car market slows down dramatically

GM - Just keeps making new highs. Pre-market is doing it again.

Another new high this morning at $50 a share

GM 10Q due JULY23

GM new 52=week high

Roaring Kitty from Atlantic City NJ sent me. Follow Me.

GM new 52 hi

GM new 52 hi

GM new 52 hi

GM new 52 week high

Detroit plant on fire. Breaking news

Each Electric Vehicle contains between 25 and 50 grams of silver, depending on the model, and hybrid cars use 18 to 34 grams of silver.
https://twitter.com/silverbars $GM

Wait what?? LOL

Look out https://www.reuters.com/business/autos-transportation/canoo-finalizes-incentive-package-with-oklahoma-cherokee-nation-2023-08-14/ $GM

Bankruptcy otw