General Motors executives are closely watching President Trump’s plans to impose invoices on imports from Canada and Mexico, but the company does not yet have significant changes in its strategy in North America, responding to endangered invoices.
The automaker has pulled together an “extensive playbook” of possible choices, but will not put them in place “until people change dramatically and we see a permanent level of invoices going on,” said Chief Financial Officer Paul Jacobson Journalists at telepenses. Monday night.
“I will not go into the details exactly, but we are preparing for it and we want to make sure we are prudent and do not react too much,” he added.
Mr Trump said last week that he was planning to impose 25 % invoices on the goods from Canada and Mexico starting on Saturday, February 1. They produce vehicles and components in these countries and possibly increase the prices of many vehicles sold in the United States.
GM produced about 900,000 vehicles in Mexico in 2024, more than any other automaker, and most of them were transferred to the United States. Among them are the Chevrolet Silvedo and GMC Sierra trucks, as well as the Chevrolet Equinox Sports Vehicle The top salesmen and large sources of profit for the company. It also produces some Silverados and electric trucks in Canada.
GM said on Tuesday that it has lost $ 3 billion in the last three months of 2024, coming from non -transport costs of $ 4 billion related to the restructuring of consortium companies in China. The company’s revenue in the quarter increased by 11 %.
For all 2024, GM reported a profit of $ 6 billion, from $ 10.1 billion in 2023. Almost all of its profit came from North America.
The company also said that the electric vehicles are making progress in the direction of profitable. The company produced about 189,000 electric vehicles in North America last year and hopes to produce about 300,000 in the area in 2025, Mr Jacobson said.
GM’s electric vehicles may also suffer if Mr Trump and Republicans in Congress remove or reduce Biden era tax reliefs that make cars and trucks more affordable and give companies in motion to build battery construction. United States.
In a letter to the shareholders, GM CEO, Mary T. Barra, said the company stressed in its talks with Congress and the White House the importance of a strong manufacturing sector of manufacturing and US leadership in advanced technologies.
“Whatever happens on these fronts. We have a wide and deep portfolio of ice and EV which are both increasing market share,” he said, referring to vehicles with internal combustion engines as well as electric vehicles “and we will be aggravated and execute as much as possible. ”
Due to the company’s strong performance in North America, GM said it would pay $ 14,500 each to 46,000 members of United Automobile Workers Union working in US plants.
