Trump’s auto tariff reprieve does little to help GM stock after earnings release

General Motors reported a decline in net income and withdrew its previous 2025 guidance

article-image

Jasen Wright/Shutterstock and Adobe modified by Blockworks

share

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


We wrote yesterday about Big Tech earnings, but we’re also keeping an eye on results in the auto industry. General Motors this morning kicked off earnings season for the so-called Big 3, which also includes Stellantis and Ford. 

In an uncommon move, GM released its Q1 report on Tuesday, but executives delayed its call until Thursday. The headline news from the release was that GM pulled its previous 2025 profit guidance, citing tariff policies. 

GM is also pausing an intended $4 billion share buyback — a plan the board approved in February. The automaker’s net income decreased 6.6% from Q4, but revenue increased 2.3%. 

Shares of GM opened lower on Tuesday (as expected), but gained as much as 2.8% following news that the White House will soften tariffs on the auto industry. The rally was short-lived, though, and GM shares had reversed the gains within the hour. 

The Trump administration said Tuesday that while the current 25% tariff on auto imports will continue, the 25% levy on metals (including steel and aluminum) will not apply. In other words, the two tariffs will not be “stacked.” It’s definitely not bad news, but I understand why it wasn’t enough to boost investor confidence too much. 

Coming up, Stellantis is scheduled to report tomorrow, and Ford’s Q1 call will be next week.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

As Satoshi-era wallets saw over $8 billion worth of BTC on the move, Congress is gearing up for “Crypto Week”

article-image

Bitcoin’s runaway success was partly driven by Slashdot

article-image

Blockworks Research data shows that VC spending is back on the rise after a slow May

article-image

After rejecting a bid from the AI cloud-computing startup last year, Core Scientific agreed to be acquired in a deal expected to close by Q4 2025

article-image

Sponsored

Plume’s collaboration with TRON will unlock cross-chain RWA yield for one of the world’s largest blockchain ecosystems

article-image

Who needs gold when you have taxes?