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

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

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.

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

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /