General Motors Co.’s profits are up as the Detroit automaker leans into profitable trucks and stops the bleeding from money-losing electric vehicles, prompting payouts to shareholders.
The automaker on Tuesday reported profits of $3.9 billion from April to June, up almost $1 billion compared to the same time last year when tariffs shocked the market and EV panic buying peaked.
GM is giving out a quarterly cash dividend of $0.18 per share, payable Sept. 17 at the close of trading Sept. 4.
CEO Mary Barra for the second time this year raised earnings expectations, now up to $14 billion to $16 billion before tax and interest this year. GM executives previously said they expected the company to bring in between $13.5 billion and $15.5 billion in 2026.
“Customer demand in North America remains strong driven by our very attractive lineup of pickups and SUVs,” Barra wrote in a letter to shareholders. She attributed GM’s success to “the appeal of our product portfolio, the agility of our team, and disciplined execution.”
Pickups and SUVs were GM most-popular models over the last three months, according to sales data. And pickup truck sales overall have continued to dominate in the United States, a sign of strong demand for large vehicles despite high gas prices and affordability complaints.
Total GM sales in the first half of the year were down about 7%, or roughly 100,000 fewer vehicles, from what the Detroit automaker has described as a record sales year in 2025.
sballentine@detroitnews.com
This article originally appeared on The Detroit News: General Motors announces shareholder payouts as profits soar
Reporting by Summer Ballentine, The Detroit News / The Detroit News
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By Summer Ballentine, The Detroit News | USA TODAY Network
