olivLaw · US equity research
GM GM
Motor Vehicles & Passenger Car Bodies · SIC 3711 · Vertical: Motor Vehicles & Passenger Car Bodies (SIC 3711)
General Motors reported total net sales and revenue of 185.0 bn USD in fiscal 2025 and guided to EBIT-adjusted of 14.5-15.5 bn USD for 2026. In the third quarter of 2026 revenue reached 50.0 bn USD and the company approved a new 20.0 bn USD share repurchase authorization.
At the close of 04 Nov 2026, GM (GM) stock was 92.43 USD (+4.63% on the day), with market capitalisation 78.0 bn USD, P/E 20.6 on diluted EPS of 4.48 USD over the last 12 months, dividend yield 0.75%, beta 0.95, 52-week range 67.91–92.43 USD. Latest reported quarter (Q3 2026): revenue of 50.0 bn USD (+2.9% YoY), net income of 3.3 bn USD (+151.3% YoY), diluted EPS 3.73 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 67.7
- strong (55–70)
- Bollinger (20, 2)
- 73.64 – 91.78
- above the upper band · %B 1.04 · band width 21.9%
- SMA 50 / 200
- 83.30 / 80.73
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.69 / 0.21
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +15.2% | −1.1% | +16.3 pp | — |
| 3 months | +3.7% | −0.5% | +4.1 pp | — |
| 6 months | +17.4% | +4.4% | +13.1 pp | — |
| Year to date | +13.7% | +12.3% | +1.3 pp | — |
| 1 year | +38.2% | +13.5% | +24.7 pp | −40.0% |
| 3 years | +210.5% | +76.4% | +134.1 pp | −57.7% |
| 5 years | +57.9% | +63.7% | −5.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 47.7 bn | 44.0 bn | 47.1 bn | 48.6 bn | 45.3 bn | 43.6 bn | 48.0 bn | 50.0 bn |
| Operating income | 1.5 bn | 3.4 bn | 2.1 bn | 1.1 bn | -3.6 bn | 2.9 bn | 1.5 bn | 3.6 bn |
| Depreciation & amortisation | 2.9 bn | 2.9 bn | 3.0 bn | 3.1 bn | 3.0 bn | 3.0 bn | 3.1 bn | 2.9 bn |
| Pre-tax income | -2.6 bn | 3.6 bn | 2.4 bn | 1.4 bn | -4.2 bn | 3.3 bn | 1.6 bn | 3.9 bn |
| Income tax | 318.0 m | 719.0 m | 481.0 m | 127.0 m | -988.0 m | 642.0 m | 214.0 m | 565.0 m |
| Net income | -3.0 bn | 2.8 bn | 1.9 bn | 1.3 bn | -3.3 bn | 2.6 bn | 1.3 bn | 3.3 bn |
| Diluted EPS | -2.75 ≈ | 3.35 | 1.91 | 1.35 | -3.48 ≈ | 2.82 | 1.41 | 3.73 |
| Operating cash flow | 4.1 bn | 6.1 bn | 6.9 bn ≈ | 7.1 bn ≈ | 6.8 bn | 3.0 bn | 6.4 bn ≈ | 7.3 bn ≈ |
| Capex | 3.2 bn | 1.8 bn | 2.1 bn ≈ | 2.1 bn ≈ | 3.2 bn | 1.5 bn | 1.9 bn ≈ | 2.3 bn ≈ |
| Dividends paid | 127.0 m | 175.0 m | 144.0 m ≈ | 200.0 m ≈ | 138.0 m | 223.0 m | 608.0 m ≈ | 215.0 m ≈ |
| Share repurchases | 4.7 bn | 2.0 bn | 0 ≈ | 1.5 bn ≈ | 2.5 bn | 800.0 m | 2.0 bn ≈ | 2.5 bn ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 85 percentile of its own 41-quarter history (min 3.6, median 6.1, max 58.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 147.0 bn | 137.2 bn | 122.5 bn | 127.0 bn | 156.7 bn | 171.8 bn | 187.4 bn | 185.0 bn |
| Revenue YoY | +1.0% | −6.7% | −10.7% | +3.7% | +23.4% | +9.6% | +9.1% | −1.3% |
| Net income | 8.0 bn | 6.7 bn | 6.4 bn | 10.0 bn | 9.9 bn | 10.1 bn | 6.0 bn | 2.7 bn |
| Net income YoY | unavailable | −16.0% | −4.5% | +55.9% | −0.8% | +1.9% | −40.7% | −55.1% |
| Diluted EPS | 5.53 | 4.57 | 4.33 | 6.70 | 6.13 | 7.32 | 6.37 | 3.27 |
| Diluted EPS YoY | unavailable | −17.4% | −5.3% | +54.7% | −8.5% | +19.4% | −13.0% | −48.7% |
| net % | 5.4% | 4.9% | 5.2% | 7.9% | 6.3% | 5.9% | 3.2% | 1.5% |
| Free cash flow | 6.5 bn | 7.4 bn | 11.4 bn | 7.7 bn | 6.8 bn | 10.0 bn | 9.3 bn | 17.6 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 20.9 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 63.2 bn USD
- Total assets
- 281.3 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.17x
- ROE
- 4.2%
- ROA
- 1.0%
- FCF margin
- 9.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 122.5 bn | 127.0 bn | 156.7 bn | 171.8 bn | 187.4 bn | 185.0 bn | SEC (XBRL)· 27 Jan 2026verified |
| Cost of revenue | 97.5 bn | 100.5 bn | — | — | — | — | SEC (XBRL)· 02 Feb 2022verified |
| Gross profit | 24.9 bn ≈ | 26.5 bn ≈ | — | — | — | — | SEC (XBRL)· 02 Feb 2022derived |
| SG&A | 7.0 bn | 8.6 bn | — | — | — | — | SEC (XBRL)· 02 Feb 2022verified |
| Operating income | 6.6 bn | 9.3 bn | 10.3 bn | 9.3 bn | 12.8 bn | 2.9 bn | SEC (XBRL)· 27 Jan 2026verified |
| Depreciation & amortisation | 12.7 bn | 12.0 bn | 11.3 bn | 11.7 bn | 11.5 bn | 12.0 bn | SEC (XBRL)· 27 Jan 2026verified |
| EBITDA | 19.3 bn ≈ | 21.4 bn ≈ | 21.6 bn ≈ | 21.0 bn ≈ | 24.2 bn ≈ | 14.9 bn ≈ | SEC (XBRL)· 27 Jan 2026derived |
| Interest expense | 4.1 bn | — | — | — | — | — | SEC (XBRL)· 10 Feb 2021verified |
| Pre-tax income | 8.1 bn | 12.7 bn | 11.6 bn | 10.4 bn | 8.5 bn | 3.1 bn | SEC (XBRL)· 27 Jan 2026verified |
| Income tax | 1.8 bn | 2.8 bn | 1.9 bn | 563.0 m | 2.6 bn | 338.0 m | SEC (XBRL)· 27 Jan 2026verified |
| Net income | 6.4 bn | 10.0 bn | 9.9 bn | 10.1 bn | 6.0 bn | 2.7 bn | SEC (XBRL)· 27 Jan 2026verified |
| Diluted EPS | 4.33 | 6.70 | 6.13 | 7.32 | 6.37 | 3.27 | SEC (XBRL)· 27 Jan 2026verified |
| Weighted average diluted shares | 1.4 bn | 1.5 bn | 1.5 bn | 1.4 bn | 1.1 bn | 973.0 m | SEC (XBRL)· 27 Jan 2026verified |
| Dividend per share | 0.38 | — | 0.18 | 0.36 | 0.48 | 0.57 | SEC (XBRL)· 27 Jan 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 20.0 bn | 20.1 bn | 19.2 bn | 18.9 bn | 19.9 bn | 20.9 bn | SEC (XBRL)· 27 Jan 2026verified |
| Receivables | 8.0 bn | 7.4 bn | 13.3 bn | 12.4 bn | 12.8 bn | 13.1 bn | SEC (XBRL)· 27 Jan 2026verified |
| Inventories | 10.2 bn | 13.0 bn | 15.4 bn | 16.5 bn | 14.6 bn | 14.5 bn | SEC (XBRL)· 27 Jan 2026verified |
| Current assets | 80.9 bn | 82.1 bn | 100.5 bn | 101.6 bn | 108.5 bn | 108.8 bn | SEC (XBRL)· 27 Jan 2026verified |
| Property, plant & equipment, net | 37.6 bn | 41.1 bn | 45.2 bn | — | — | — | SEC (XBRL)· 31 Jan 2023verified |
| Goodwill | 1.9 bn | 1.9 bn | 1.9 bn | 1.9 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 27 Jan 2026verified |
| Intangibles (excl. goodwill) | 3.3 bn | 3.2 bn | 3.0 bn | 2.9 bn | 2.6 bn | 2.5 bn | SEC (XBRL)· 27 Jan 2026verified |
| Total assets | 235.2 bn | 244.7 bn | 264.0 bn | 273.1 bn | 279.8 bn | 281.3 bn | SEC (XBRL)· 27 Jan 2026verified |
| Accounts payable | 19.9 bn | 20.4 bn | 27.5 bn | 28.1 bn | 25.7 bn | 23.9 bn | SEC (XBRL)· 27 Jan 2026verified |
| Current liabilities | 79.9 bn | 74.4 bn | 91.2 bn | 94.4 bn | 96.3 bn | 93.3 bn | SEC (XBRL)· 27 Jan 2026verified |
| Total liabilities | 185.5 bn | 178.9 bn | 191.8 bn | 204.8 bn | 214.2 bn | 218.1 bn | SEC (XBRL)· 27 Jan 2026verified |
| Equity | 49.7 bn | 65.8 bn | 71.9 bn | 68.2 bn | 65.6 bn | 63.2 bn | SEC (XBRL)· 27 Jan 2026verified |
| Shares outstanding at year end | — | 1.5 bn | 1.4 bn | 1.2 bn | 995.0 m | 904.0 m | SEC (XBRL)· 21 Oct 2025verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 16.7 bn | 15.2 bn | 16.0 bn | 20.9 bn | 20.1 bn | 26.9 bn | SEC (XBRL)· 27 Jan 2026verified |
| Capex | 5.3 bn | 7.5 bn | 9.2 bn | 11.0 bn | 10.8 bn | 9.3 bn | SEC (XBRL)· 27 Jan 2026verified |
| Free cash flow | 11.4 bn ≈ | 7.7 bn ≈ | 6.8 bn ≈ | 10.0 bn ≈ | 9.3 bn ≈ | 17.6 bn ≈ | SEC (XBRL)· 27 Jan 2026derived |
| Investing cash flow | -21.8 bn | -16.4 bn | -17.9 bn | -14.7 bn | -20.5 bn | -16.1 bn | SEC (XBRL)· 27 Jan 2026verified |
| Financing cash flow | 5.6 bn | 1.7 bn | 383.0 m | -6.4 bn | 1.9 bn | -9.6 bn | SEC (XBRL)· 27 Jan 2026verified |
| Dividends paid | 669.0 m | 186.0 m | 397.0 m | 597.0 m | 653.0 m | 657.0 m | SEC (XBRL)· 27 Jan 2026verified |
| Share repurchases | 90.0 m | 0 | 2.5 bn | 11.1 bn | 7.1 bn | 6.0 bn | SEC (XBRL)· 27 Jan 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 65 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 78.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet24
- Valuation78
- Quality86
- Growth24
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 84.68 – 100.23 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E84.68 – 100.23 (Mid 90.72)3 companies used · median multiple 20.2x · quartiles 18.9x – 22.4xFSS, OSK, PCAR
- Dividend discount (DDM)outside the aggregate7.49 – 10.07 (Mid 8.59)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 65/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.1% | 72 (vs peers) | 10% |
| FCF conversion · Quality | 363.8% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 5.7% | 47 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | -18.9% | 0 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.1x | 24 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 20.6x | 60 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 18.5% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 11.5% | 100 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 8.2% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial24/100 · 1/3 factors with a value
- Growth24/100 · 2/2 factors with a value
- Quality86/100 · 2/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation78/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GENERAL MOTORS COMPANY (GM). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 185.0 bn USD in 2025; YoY growth -1.3%; net margin 2.1%; ROE 6.1%.
The estimated value range is 84.68–100.23 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 90.72 USD, the price of 92.43 USD leaves a potential of -1.9% (value / price − 1) and a margin of safety of -1.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 65/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 2.1%
- FCF conversion: 363.8%
- FCF yield: 18.5%
- Shareholder yield (distributions): 11.5%
- Payout ratio (FCF): 8.2%
What contradicts it
- EPS CAGR 3Y: -18.9%
- Current ratio: 1.1x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Motor Vehicles & Passenger Car Bodies (SIC 3711) · same industry (4-digit SIC) · compared with 25 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TSLATesla, Inc. | 1,522.6 bn | 424.6 | 3.8% | 3.1% | −2.9% | −10% / +60% |
| GMGeneral Motors Company | 78.0 bn | 20.6 | 6.1% | 2.1% | −1.3% | +38% / +210% |
| PCARPACCAR Inc | 55.9 bn | 20.2 | 13.7% | 9.5% | −15.5% | +1% / +16% |
| LILi Auto Inc. | 23.5 bn | 144.8 | 1.6% | 1.0% | −18.8% | −37% / −69% |
| RIVNRivian Automotive, Inc. | 20.5 bn | — | -55.0% | -45.9% | +8.4% | −17% / −16% |
| OSKOshkosh Corporation | 8.7 bn | 17.5 | 11.0% | 4.6% | −2.9% | +12% / +47% |
| NIONIO Inc. | 8.2 bn | — | -302.6% | -17.1% | +38.9% | −40% / −55% |
| VFSVinFast Auto Ltd. | 7.8 bn | — | — | -175.5% | +54.7% | +2% / −61% |
| FSSFederal Signal Corporation | 7.2 bn | 24.5 | 20.5% | 11.7% | +17.1% | +3% / +71% |
| LCIDLucid Group, Inc. | 1.3 bn | — | -571.4% | -249.2% | +67.6% | −75% / −92% |
| LOTLotus Technology Inc. | 217.2 m | — | — | -89.4% | −43.8% | −75% / −97% |
| NIUNiu Technologies | 115.3 m | — | -4.4% | -0.9% | +36.7% | −49% / −24% |
| GGRGogoro Inc. | 45.7 m | — | -56.2% | -28.4% | −9.4% | −23% / −94% |
| WKHSWorkhorse Group Inc. | 36.2 m | — | — | -301.5% | +201.1% | −69% / −100% |
| DCXDigital Currency X Technology Inc. | 21.5 m | — | — | -434.9% | −27.1% | −100% / −100% |
| FFAIFaraday Future Intelligent Electric Inc. | 12.2 m | — | -2,030.5% | -21,838.0% | −0.6% | −100% / −100% |
| FLYEFly-E Group, Inc. | 2.8 m | — | -82.2% | -67.9% | −25.0% | −62% / unavailable |
| CENNCenntro Inc. | 434.8 k | — | -126.6% | -423.9% | −42.2% | −98% / −100% |
| FFord Motor Co | — | — | -18.4% | -4.2% | +1.2% | −5% / +23% |
| RACEFerrari N.V. | — | — | 42.9% | 22.3% | +7.0% | +10% / +20% |
| STLAStellantis N.V. | — | — | -33.0% | -14.5% | −2.1% | −56% / −79% |
| HMCHonda Motor Co., Ltd. | — | — | 6.7% | 3.9% | +6.2% | +16% / +15% |
| XPEVXpeng Inc. | — | — | -7.9% | -46.7% | unavailable | −55% / −41% |
| AIIORobo.ai Inc. | — | — | — | -17,614.9% | −92.1% | −96% / −100% |
| TMToyota Motor Corp | — | — | 13.6% | 9.9% | +6.5% | −1% / +5% |
1- and 3-year price returns: for GM from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 57.84 Total return -37% · Per year -37% | 102.19 Total return 11% · Per year 11% | 153.85 Total return 67% · Per year 67% |
| 3 years | 57.48 Total return -36% · Per year -14% | 114.15 Total return 26% · Per year 8% | 188.49 Total return 107% · Per year 27% |
| 5 years | 57.12 Total return -35% · Per year -8% | 127.49 Total return 43% · Per year 7% | 230.93 Total return 156% · Per year 21% |
- Exit P/E± 28.54
- Net margin± 19.98
- Annual revenue growth± 16.21
- Annual dilution± 1.68
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
General Motors reported total net sales and revenue of 185.0 bn USD in fiscal 2025 1 and guided to EBIT-adjusted of 14.5-15.5 bn USD for 2026 2. In the third quarter of 2026 revenue reached 50.0 bn USD and the company approved a new 20.0 bn USD share repurchase authorization 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Slow adoption of electric vehicleshigh
If EV adoption stays below expectations, the company could record further charges and may need to reduce production capacity 1.
- Trade tariffshigh
The tariff environment remains dynamic, and changes could affect the cost of imported parts and vehicles and the EBIT-adjusted result 12.
- Pricing competitionmedium
Industry excess capacity can lead to aggressive incentives and pricing pressure, which could reduce margins 1.
- Supplier dependencemedium
Single-source purchases and concentration of EV battery supply chains could expose production to disruption 1.
- Autonomous driving risklow
The autonomous driving strategy could face technical or regulatory delays that affect software investment returns 1.
Investment thesis
What would need to be true (bull case)
- If North American profitability returns to the target range, annual results could exceed current guidance 23.
- The share repurchase program, combined with growing automotive cash flow, could support shareholder returns 3.
- A strong position in the U.S. market and sales of trucks and SUVs could sustain margins in coming periods 1.
What would break the thesis
What to watch
- Trajectory of GMNA EBIT-adjusted margin against the target rangeQ4 2026
- Additional charges linked to EV capacity realignment2026
- Execution of the 20 bn USD share repurchase program2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
General Motors Company designs, builds and sells trucks, crossovers, cars and automobile parts, and provides software-enabled services and subscriptions, under the Buick, Cadillac, Chevrolet and GMC brands 1. Its operations are organized into GMNA (North America), GMI (International) and GM Financial, the captive finance arm. In fiscal 2025, 27.5% of wholesale volume was generated outside the U.S., out of 3.8 million vehicles 1. The company refocused its autonomous driving strategy from robotaxis to personal-vehicle systems after winding down Cruise robotaxi operations 1.
The full-size ICE trucks and SUVs, which carry the highest margins, remain the main source of profitability, while EV investments were realigned after U.S. demand slowed 12. In fiscal 2025 GMNA recorded 7.9 bn USD of EV-related charges 1. Software services such as OnStar and Super Cruise complement the model 1.
Segments
Trends
- Demand for electric vehiclesheadwind
Slower U.S. EV demand after the removal of tax incentives could keep pressure on EV capacity and segment profitability 1.
- Trade tariffsmixed
Tariffs on imported vehicles and parts change costs, though refunds of invalidated tariffs could bring favorable adjustments 2.
- High-margin ICE vehiclestailwind
Sustained demand for full-size trucks and SUVs supports margins, provided consumer preferences do not shift quickly toward smaller vehicles 1.
- Emissions and fuel-economy rulesmixed
Changes to emissions and fuel-economy regulation could reduce compliance costs or lead to impairment of acquired regulatory credits 1.
Competitive position
Competition in the auto industry is intense, and manufacturers in lower-cost economies such as China and India are expanding in emerging markets and in entry-level segments 1. Pricing pressure could increase if industry excess capacity remains high 1.
New entrants and technology suppliers, including ridesharing services backed by large technology companies, are reshaping the traditional business model 1. The company must deliver new products, including EVs and autonomous features, to stay competitive 1.
- Chinese automakers
Chinese manufacturers offering lower-cost vehicles in emerging markets and entry-level segments, affecting pricing and market share 1.
- Indian automakers
Indian manufacturers that have become competitors in emerging markets with low-cost products 1.
- Technology companies and ridesharing services
Software and transport service companies backed by large technology firms that are changing industry structure 1.
- Traditional vehicle manufacturers
Established automakers redirecting resources in response to regulation and shifting consumer preferences 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- SUA. Producătorii auto cer Congresului să interzică definitiv vânzarea maşinilor chinezeşti pe piaţa internă, deoarece reprezintă o amenințare pentru piața auto locală.Biziday.ro · 03 Nov 2026 · RO
- GM Korea's Oct. sales jump 26.6 pct on strong exportsYonhap News (KR, EN) · 02 Nov 2026 · EN
- GM plătește 220 de milioane de dolari pentru vânzarea ilegală a datelor personale ale șoferilorProfit.ro · 30 Oct 2026 · RO
- GM cracks the petty cash box for multistate driver tracking settlementThe Register · 30 Oct 2026 · EN
- 36 states reach $220M settlement with General Motors over driver data privacyThe Hill · 29 Oct 2026 · EN
- GM settles with 36 states for selling driver data, agrees to $220 million fine and reformsThe Record (Recorded Future) · 29 Oct 2026 · EN
- GM to pay $220 million to resolve claims it sold driving habits dataThe Verge · 29 Oct 2026 · EN
- Trump declares robot imports a national security threatArs Technica — AI · 29 Oct 2026 · EN
- Уолл-стрит закрылась в плюсе во вторникInterfax Russia (RU) · 28 Oct 2026 · RU
- US Army queries industry’s ability to build 21,000 Infantry Squad VehiclesDefense News (US, EN) · 27 Oct 2026 · EN
- GM to Leave NYSE for Stock Listing on Tech-Focused NasdaqBloomberg Markets · 27 Oct 2026 · EN
- Maşini sau inteligenţă artificială? General Motors se mută pe Nasdaq, pe fondul accelerării investiţiilor în AIZiarul Financiar · 27 Oct 2026 · RO
- Sterling Anderson doesn’t think humanoid robots should be building carsThe Verge · 27 Oct 2026 · EN
- GM to Move Stock Listing to Tech-Focused Nasdaq, Leaving NYSEBloomberg Markets · 27 Oct 2026 · EN
- GM Analysts Say Buy the Dip as Stock Eyes Worst Week Since 2025Bloomberg Markets · 23 Oct 2026 · EN
- GM aims to develop vehicles in as little as two years with AI, software pushCNBC — Top News · 21 Oct 2026 · EN
- GM promises smarter cars, faster updates, and autonomous dry-cleaning runsThe Verge · 21 Oct 2026 · EN
- GM to Add Hybrids as U.S. Gasoline Holds Above $4Oil Price · 21 Oct 2026 · EN
- World shares are mostly higher after US stocks rally on strong earningsSurge — GDELT DOC · 21 Oct 2026 · RO
- Dow Jones и S&P 500 выросли во вторник, Nasdaq завершил торги в небольшом минусеInterfax Russia (RU) · 21 Oct 2026 · RU
SEC filings
- Current report29 Oct 2026Departure or appointment of officers
- Current report27 Oct 2026Delisting notice · Amendments to articles or bylaws · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report20 Oct 2026
- Current report20 Oct 2026Results of operations · Financial statements and exhibits
- Current report11 Aug 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Quarterly report21 Jul 2026
- Current report21 Jul 2026Results of operations · Financial statements and exhibits
- Current report04 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report26 May 2026Departure or appointment of officers
- Quarterly report28 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / GM · 27 Jan 2026
- [2] Form 10-Q, quarter ended 2026-09-30 · SEC / GM · 20 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / GM · 20 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.