DETROIT — General Motors posted weaker 2025 earnings, citing slipping revenue and multibillion-dollar electric-vehicle charges — another signal of softening EV demand in the U.S. market.
GM said annual revenue fell 1.3% to $185 billion, while EBIT-adjusted profit dropped 14.6% from 2024 to $12.7 billion. Net income attributable to shareholders declined 55.1% year over year to $2.6 billion, with net income margin narrowing to 1.5% from 3.2%, GlobalData reported.
The automaker swung to a $3.3-billion loss in the fourth quarter after recording more than $7.2 billion in special charges tied largely to a realignment of EV capacity and investment plans. GM said the move reflects weaker-than-expected EV demand and changes in U.S. government policy, including the expiration of consumer incentives and looser emissions standards. Despite the charges, fourth-quarter EBIT-adjusted rose 13.3% year over year to $2.8 billion, GlobalData said.
North America remained GM’s core profit center, though margins tightened. The region’s EBIT-adjusted margin fell to 6.8% from 9.2% a year earlier, even as U.S. market share climbed to 17.2%, up from 16.5%, driven largely by strong truck and crossover sales. About 27.5% of GM’s wholesale vehicle volumes in 2025 came from outside the U.S., and North American operations ran at more than full two-shift capacity, the company said.
Despite the earnings pressure, GM announced a 20% increase in its quarterly dividend and authorized a new $6 billion share repurchase program.
Looking ahead, GM forecast 2026 net income attributable to stockholders of $10.3 billion to $11.7 billion, with EBIT-adjusted expected to range from $13 billion to $15 billion, according to GlobalData.