General Motors’ (GM) stock is down 2% after the Detroit automaker warned that its sales are likely to be weaker than expected in the fourth and final quarter of this year. Speaking at an investment conference, General Motors’ Chief Financial Officer (CFO) Paul Jacobson said that the company expects sales in the fourth quarter to be “seasonally weaker” than in the second and third quarters of the year.
Jacobson said that the final months of 2026 are likely to be challenging due to 35,000 fewer of the automaker’s trucks being delivered this autumn as expected. He added that 2027 is “going to be a bit of a flat spot” for electric vehicle sales at GM. However, the CFO stressed that the final quarter of the year is usually seasonally weaker than the spring and summer months, when vehicle sales tend to be strongest.
General Motors’ earnings per share. Source: The Fly
“EV profitability has been hit really hard over the last couple of years. First, tariffs; second, everybody was logging EV credits as part of the variable profit equation…both of those went the wrong direction against profitability,” said Jacobson at the conference. GM still believes that electric vehicles are a long-term pl...