本报（chinatimes.net.cn）记者刘凯 北京报道 10月21日，通用汽车发布2025年第三季度财报。财报显示，公司净收入达486亿美元，净利润为13亿美 元，调整后息税前利润率达6.9%，反映出盈利质量的优化。此外，中国市场连续四个季度的盈利，也 为其增长前景增添了砝码。 这份成绩单最直接的反响体现在资本市场上，财报发出后，通用汽车股价随即暴涨近15%，创下2020年 以来的单日最高涨幅。而这一现象背后，是业内对其战略转型的广泛认可。 面对电动车行业补贴退坡、竞争加剧等挑战，通用汽车没有一味冒进，而是果断"踩刹车"，重新审视并 放慢了纯电平台的扩张步伐，将资源向更能即时贡献利润的混合动力和传统燃油车型倾斜。这一回归商 业本质的决策，不仅帮助公司有效抵御了外部环境的波动，更向市场清晰地传递了"利润优先于规模"的 新信号，从而重塑了投资者信心，被视为传统车企在转型阵痛中寻求平衡的一个成功范例。 表面数据"惨淡" 从表面数据看，通用汽车三季度的表现难言出色。公司股东应占净利润仅为13亿美元，同比暴跌57%； 净利润率也从去年同期的6.3%大幅萎缩至2.7%。其北美市场的调整后利润率也从9.7%下滑至6. ...

General Motors is positioning itself to take a leading role in the AI evolution with a suite of upgrades from anticipating a driver’s needs to driving for them.The automaker, which sells vehicles under the Chevrolet, Cadillac, GMC and Buick brands, plans to equip its vehicles with conversational AI powered by Google Gemini next year ahead of GM’s launch of its own custom-built AI.With the conversational AI, drivers will be able to draft and send messages and plan routes with context, such as finding a charg ...

General Motors is positioning itself to take a leading role in the AI evolution with a suite of upgrades from anticipating a driver's needs to driving for them. The automaker, which sells vehicles under the Chevrolet, Cadillac, GMC and Buick brands, plans to equip its vehicles with conversational AI powered by Google Gemini next year ahead of GM's launch of its own custom-built AI.With the conversational AI, drivers will be able to draft and send messages and plan routes with context, such as finding a char ...

General Motors will add a conversational AI assistant powered by Google Gemini to its cars, trucks, and SUVs starting next year, the U.S. automaker said Wednesday during an event in New York City. The Google Gemini rollout is one of several tech-centric announcements made at the automaker’s GM Forward event, and it will be one of the first to get into consumers’ hands. Others, including an overhaul of its electrical architecture and computing platform and an automated driving feature that allows drivers to ...

Key Points General Motors has emerged as the clear No. 2 in the U.S. electric-vehicle market. The company's third-quarter results were fantastic, and management raised its full-year guidance. With a valuation of just seven times forward earnings, GM could be an absolute bargain. 10 stocks we like better than General Motors › Although their adoption has been more gradual than many experts had predicted, electric vehicles (EVs) remain the future of the automotive industry. As technology evolves and ...

涉及的行业与公司 * 涉及的行业为汽车制造业，特别是电动车、自动驾驶技术及软件服务领域 [2] * 涉及的公司为通用汽车及其金融部门GM金融 [2][20] 核心财务表现与指引 * 公司2023财年第三季度调整后息税前利润同比下降，包含11亿美元的关税影响，通过市场布局和成本控制抵消了超过一半的影响 [2][3] * 调整后的汽车自由现金流为20亿美元，部分得益于关税抵消报销 [2][3] * 公司将全年调整后EBIT指引提高至120亿至130亿美元，调整后每股摊薄EPS为9.75至10.50美元，调整后汽车自由现金流为100亿至110亿美元 [9] * 资本支出预计处于指引范围5亿至6亿美元的较低端 [9] * 总关税敞口从原来的5亿至6亿美元总影响改善至3.5亿至4.5亿美元 [9] 区域市场表现 **北美市场** * 北美市场经销商库存同比减少，库存周转加快，自第二季度末以来下降了近一半 [4] * 美国市场份额同比上升几个百分点，优惠政策低于行业平均水平 [4] * 北美地区第一季度调整后EBIT利润率得益于跨界车型交付量创新高以及全尺寸皮卡和SUV的良好表现 [2][4] **中国市场与国际业务** * 中国市场转型成功，市场份额同比增长，权益性投资收益连续多个季度上升至8000万美元，预计全年盈利 [8] * 不含中国地区，国际业务调整后息税前利润约1.5亿美元，中东地区大型皮卡及SUV销售强劲 [8] 电动车与软件服务进展 * 公司从OnStar、Super Cruise等软件服务中获得近20亿美元收入，递延收入增长14%至近50亿美元 [5] * OnStar订户达1100万，同比增长34%，Super Cruise客户超过50万，同比增长近一倍 [5] * 正在展示雪佛兰Blazer EV生产，开发下一代凯迪拉克CT5 [5] * 奥里恩组装厂复产后将增加凯迪拉克埃斯卡拉德和下一代全尺寸轻型卡车产能 [5] 未来计划与战略举措 **盈利能力提升** * 计划投资新的电池化学技术、优化生产定价和激励政策、管控固定成本、降低关税风险以及减少保修费用 [2][6][10] * 成立跨职能团队以降低保修费用 [6] * 目标使北美地区利润率恢复至8%至10% [18] **供应链与成本管理** * 积极应对供应链挑战，加强供应商质量验证，利用人工智能工具分析数据以优化维修管理，降低成本 [7] * 通过复杂性降低工作、共享部件、建立电子平台以及投资新的锂金属电池技术来降低成本 [16] * 调整产能规模以避免承担大量固定成本负担 [23] **技术发展** * Super Cruise技术持续进步，与谷歌地图集成，业务利润率约70% [23] * 专注于为个人车辆带来4级自动驾驶，明年将提供更多里程碑信息 [23] * 研发下一代软件定义车辆，将在公司活动上分享相关信息 [13] 资本配置与财务稳健性 * 本季度投资约20亿美元用于资本项目、偿还约13亿美元债务并回购约15亿美元股票 [17] * 今年迄今已回购大量股票，使摊薄后股数同比下降 [17] * GM金融部门表现强劲，消费者信贷表现符合预期，客户表现有韧性 [20] * 公司资产负债表稳健，有能力妥善管理业务 [20] 监管与竞争环境 * 排放法规预计将更加宽松，为公司全尺寸皮卡和SUV带来增长机会 [12] * 新的关税政策将某些零件纳入232条款，扩大了可享受关税优惠的零件范围，预计在2026年带来约15亿美元同比增长动力 [12] * 公司专注于打造有竞争力的车型应对潜在的中国汽车制造商竞争，强调需要公平的竞争环境 [22] * 对关键原材料供应链弹性表示乐观，从北美及盟国进行采购 [18] 其他重要信息 * 公司文化变得更加敏捷，能快速应对挑战 [17] * 电动车需求被描述为强劲，公司市场份额在增长，但真实需求需到明年年初评估 [15] * 公司与现代汽车在南美市场合作开发新车型，作为提高车辆竞争力的全面策略一部分 [24] * 目前对墨西哥和加拿大关税的假设分别为25%和35%，未预设变化 [26]

General Motors (NYSE:GM) Q3 2025 Earnings Call October 21, 2025 08:30 AM ET Speaker2Morning and welcome to the General Motors Company third quarter 2025 earnings conference call. During the opening remarks, all participants will be in a listen-only mode. After the opening remarks, we will conduct a question and answer session. We are asking analysts to limit their questions to one and a brief follow-up. To ask a question, press star, then one on your telephone keypad to join the queue. To withdraw your ques ...

This story was originally published on WardsAuto. To receive daily news and insights, subscribe to our free daily WardsAuto newsletter. Dive Brief: General Motors’ Q3 net income tumbled 57% year-over-year fueled by tariffs, which cost the company $1.1 billion during the quarter, the automaker reported Tuesday. Profits also were affected by the automaker’s revised electric vehicle strategy to scale back production amid cooling demand, according to CEO Mary Barra.  However, GM’s quarterly setback could p ...

Rare earth metals have quietly become the backbone of the modern economy, powering everything from electric vehicles (EVs) to wind turbines and advanced defense systems. As global demand accelerates, supply risks have surged, especially with China tightening its grip on rare earth exports. That’s why investors are increasingly watching for U.S.-based companies that can secure domestic access to these critical materials. One surprising name leading this charge is General Motors (GM). While better known for ...

The market's is focused on the biggest and most popular names in the business, but this little company is perfectly positioned.We're not quite there yet, but artificial intelligence tech will soon be standard in most -- if not all -- automobiles, and electric vehicles in particular. A recent outlook from Global Market Insights suggests the worldwide automotive AI market is likely to grow at an average annual pace of nearly 43% through 2034.And there's one chipmaker that's quietly positioned to dominate this ...