President Donald Trump’s 25% tariffs on imported vehicles and parts have sent shockwaves through the U.S. auto industry.

GM reports a second-quarter operating profit of $3 billion and earnings per share of $2.53 from sales of $47.1 billion.

Tariffs on imported cars and auto parts cost General Motors $1.1 billion in the second quarter, the nation’s largest automaker said Tuesday.

General Motors and other U.S. companies give updates on how much President Trump’s tariffs are impacting them.

The S&P 500 eked out a record-high close on Tuesday, following steep losses in General Motors and a gain in Tesla as investors focused on recent and upcoming quarterly reports and watched for signs of progress in U.

Tariffs instituted by President Donald Trump have cost Detroit-based General Motors an estimated $1.1 billion in the second quarter of 2025, the automaker said Tuesday. GM says the costs largely contributed to a 21% drop in net income during the quarter, according to CNN.

GM said earnings in the second quarter reflect a more than $1 billion hit from President Donald Trump's tariffs.

GM is anticipating that the total impact of the tariffs in 2025 will be approximately $4 billion to $5 billion

General Motors had a more than $1 billion chunk taken out of its profits due to tariff costs, the company reported on Tuesday. GM, as well as other automakers like Stellantis, have contributed to evidence indicating American companies and consumers—not exporters—are the ones paying for tariffs.