General Motors Q4 2025 Financial Results Reflect EV Realignment Costs

On January 27, General Motors reported its Q4 2025 financial performance, with net income attributable to stockholders recording a loss of USD 3.3 billion. The company posted an operating loss of USD 3.6 billion, while EBIT-adjusted stood at USD 2.8 billion, underscoring the impact of major restructuring actions during the quarter.
The quarterly net loss was largely driven by more than USD 7.2 billion in special charges. These were primarily linked to a realignment of EV capacity and investments amounting to USD 6.0 billion. Additional impacts included China restructuring actions of USD 0.7 billion, Cruise restructuring charges of USD 1.0 billion, and USD 0.4 billion related to other legal matters.
General Motors Q4 2025 Financial Results Show Full-Year Pressure
For the full year 2025, net income attributable to stockholders declined 55.0% year-on-year to USD 2.7 billion. Operating income fell sharply by 77.3% to USD 2.7 billion, while EBIT-adjusted reached USD 12.7 billion, reflecting resilience in core operations despite exceptional items.
Global Deliveries Support Underlying Demand
Despite financial pressure, GM’s global deliveries increased 3.0% from 2024 to 6.18 million vehicles, indicating stable customer demand across key markets. Regional performance was mixed but generally positive in major volume regions:

• North American deliveries rose 4.5% to 3.36 million vehicles

• U.S.-specific deliveries increased 5.5% to 2.85 million vehicles

• APAC, Middle East and Africa volumes grew 2.5% to 2.42 million vehicles

• China deliveries advanced 2.2% to 1.88 million vehicles

• South American deliveries declined 5.0% to 403,000 vehicles

• Brazil-specific deliveries fell 12.4% to 276,000 vehicles

Region	Deliveries	Year-on-Year Change
North America	3.36 million vehicles	+4.5%
United States	2.85 million vehicles	+5.5%
APAC, Middle East and Africa	2.42 million vehicles	+2.5%
China	1.88 million vehicles	+2.2%
South America	403,000 vehicles	-5.0%
Brazil	276,000 vehicles	-12.4%

GM highlighted that it continues to onshore more production capacity to align with strong customer demand, supported by a U.S. regulatory and policy environment that increasingly matches market needs.
2026 Outlook Signals Recovery Momentum
Company guidance points to a substantially stronger performance in 2026. GM expects net income attributable to stockholders in the range of USD 10.3 billion to USD 11.7 billion, with EBIT-adjusted projected between USD 13.0 billion and USD 15.0 billion. Planned capital spending is forecast at USD 10.0 billion to USD 12.0 billion, including investments in battery cell manufacturing joint ventures.
GM also reaffirmed confidence in its path toward EV profitability. The company noted that its EV portfolio attracted nearly 100,000 new customers in 2025 and emphasized continued execution of initiatives aimed at reducing EV-related costs as it moves into 2026.