GM’s Q3 Unscathed by Strikes
Exceeds expectations but takes conservative posture as walkouts continue.

GM also withdrew target electric-vehicle production volume because demand has failed to meet expectations.
IMAGE: Pexels/500photos.com
General Motors, despite more than a month of worker strikes against it, exceeded Wall Street’s third-quarter expectations but withdrew its full-year guidance due to the uncertainty brought by the strikes.
The Detroit automaker had $3.1 billion in profit, down 7.3% year-over-year as revenue rose 5.4% to $44.1 billion.
“Our supply chain team and logistics partners in North America have done great work improving the flow of vehicles from our assembly plants to our dealers,” said CEO Mary Barra in a letter to shareholders. “Our U.S. dealers helped us outperform the market with strong pricing and essentially flat incentives.”
GM also withdrew target electric-vehicle production volume because demand has failed to meet expectations. It will instead focus on increasing efficiencies with the goal of cutting production costs and turning greater profit, Barra wrote.
She addressed the United Auto Workers’ demands for more compensation, saying GM has offered the union record wage hikes and job security, including pay of roughly $84,000 a year for the majority of workers.
“It’s an offer that rewards our team members but does not put our company and their jobs at risk.”
UAW President Shawn Fain said GM’s quarterly results prove workers deserve a better take of profits. “Another record quarter, another record year. As we’ve said for months: record profits equal record contracts,” he said in a statement. “It’s time GM workers, and the whole working class, get their fair share.”
Originally posted on Auto Dealer Today
More Industry

Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →