General Motors lifts 2026 outlook despite hit from electric retreat

General Motors lifted its 2026 pre-tax operating earnings forecast to between $14 billion and $16 billion despite reporting a 31 percent drop in quarterly profit to $1.3 billion. Revenue rose about 2 percent to $48 billion, with results weighed down by $2.3 billion in costs from its EV retreat and $177 million in China restructuring charges. GM maintained its full-year tariff impact projection of $2.5-3.5 billion as Trump ordered new 50 percent tariffs on Canadian goods, and US gasoline prices climbed back above $4 a gallon.