GM releases 2026 third-quarter results and updates full-year 2026 guidance; Board approves new $20 billion share repurchase authorization, declares quarterly dividend

GM raised its full-year cash-flow outlook while international and financing earnings declined in the third quarter.

Rhea-AI Summary

General Motors (NYSE: GM) reported third-quarter 2026 revenue of $50.0 billion, updated its full-year outlook and authorized additional share repurchases. Net income attributable to stockholders rose to $3.335 billion from $1.327 billion a year earlier; diluted earnings per share increased to $3.73 from $1.35. Adjusted earnings before interest and taxes rose 21.6% to $4.106 billion.

GM expects 2026 adjusted automotive free cash flow of $11.5 billion–$12.5 billion, up from $9.5 billion–$11.5 billion, and narrowed adjusted earnings guidance to $14.5 billion–$15.5 billion. The board approved a $20.0 billion multi-year buyback authorization after completion of the $6.0 billion program announced in January. A quarterly dividend of $0.18 per share is payable December 17, 2026. International adjusted earnings fell 87.7%, while GM Financial adjusted pretax earnings declined 16.9%.

31 points · 2 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 12 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point$20.0 billion multi-year buyback authorization approved, with no expiration date. 28% of market cap
• Major point. Forward-looking: it has not happened yet and may not happen.2026 adjusted automotive free cash flow expected at $11.5 billion–$12.5 billion, previously $9.5 billion–$11.5 billion.
• Moderate point$6.0 billion buyback program announced in January 2026 completed. 8.3% of market cap
• Moderate pointThird-quarter revenue rose 2.9% year over year to $50,015 million.
• Moderate pointThird-quarter stockholder net income rose to $3,335 million from $1,327 million a year earlier.
• Moderate pointThird-quarter adjusted earnings before interest and taxes rose 21.6% to $4,106 million year over year.
• Moderate pointThird-quarter automotive operating cash flow rose 32.6% year over year to $8,049 million.
• Moderate pointThird-quarter adjusted automotive free cash flow rose 40.0% year over year to $5,882 million.
• Moderate pointNorth American third-quarter adjusted operating earnings rose 43.4% year over year to $3,592 million.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 stockholder net income expected at $8.9 billion–$9.5 billion, narrowing the previous $8.4 billion–$9.8 billion range.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 adjusted operating earnings expected at $14.5 billion–$15.5 billion, narrowing the previous $14.0 billion–$16.0 billion range.

20 minor points

• Minor pointShares outstanding fell to 849 million September 30, 2026, from 904 million at year-end 2025.
• Minor pointThird-quarter diluted EPS rose to $3.73 from $1.35 a year earlier.
• Minor pointThird-quarter net income margin reached 6.7%, versus 2.7% a year earlier.
• Minor pointThird-quarter adjusted operating earnings margin reached 8.2%, versus 6.9% a year earlier.
• Minor pointThird-quarter adjusted diluted EPS rose 32.2% year over year to $3.70.
• Minor pointNorth American third-quarter adjusted operating earnings margin reached 8.7%, versus 6.2% a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 automotive operating cash flow expected at $17.3 billion–$20.3 billion, previously $15.4 billion–$19.4 billion.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 diluted EPS expected at $9.72–$10.72, narrowing the previous $8.98–$10.98 range.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 adjusted diluted EPS expected at $12.75–$13.75, narrowing the previous $12.00–$14.00 range.
• Minor pointThird-quarter operating income rose to $3,598 million from $1,076 million a year earlier.
• Minor pointThird-quarter automotive cost of sales fell to $40,739 million from $41,936 million a year earlier.
• Minor pointThird-quarter automotive selling and administrative expenses fell to $2,027 million from $2,037 million a year earlier.
• Minor pointThird-quarter automotive interest expense fell to $162 million from $209 million a year earlier.
• Minor pointThird-quarter equity income rose to $233 million from $77 million a year earlier.
• Minor pointNine-month revenue rose to $141,665 million from $139,732 million a year earlier.
• Minor pointNine-month stockholder net income rose to $7,267 million from $6,007 million a year earlier.
• Minor pointNine-month basic EPS rose to $8.07 from $6.75 a year earlier.
• Minor pointNine-month operating income rose to $7,984 million from $6,555 million a year earlier.
• Minor pointNine-month automotive interest expense fell to $472 million from $560 million a year earlier.
• Minor pointNine-month equity income rose to $542 million from $219 million a year earlier.

Negative

• Moderate pointGM Financial third-quarter adjusted pretax earnings fell 16.9% year over year to $668 million.
• Minor pointInternational third-quarter adjusted operating earnings fell 87.7% year over year to $28 million.
• Minor pointChina third-quarter equity income fell 60.3% year over year to $32 million.
• Minor pointThird-quarter GM Financial revenue fell to $4,309 million from $4,335 million a year earlier.
• Minor pointThird-quarter GM Financial expenses rose to $3,651 million from $3,542 million a year earlier.

7 minor points

• Minor pointThird-quarter interest and other nonoperating income fell to $274 million from $475 million a year earlier.
• Minor pointThird-quarter income tax expense rose to $565 million from $127 million a year earlier.
• Minor pointNine-month automotive cost of sales rose to $116,462 million from $116,416 million a year earlier.
• Minor pointNine-month automotive selling and administrative expenses rose to $6,293 million from $6,161 million a year earlier.
• Minor pointNine-month GM Financial expenses rose to $10,926 million from $10,600 million a year earlier.
• Minor pointNine-month interest and other nonoperating income fell to $803 million from $1,151 million a year earlier.
• Minor pointNine-month income tax expense rose to $1,422 million from $1,326 million a year earlier.

Argus 15 min delay 10 alerts

-5.76% vs previous close $77.98 last price 270.4x rel. volume Open Argus

Details

Market move: GM -5.76% vs previous close. 3Q26 earnings report

$76.75 – $86.48 Day Range

$68.42B Mkt Cap at Last Price

On Oct 20, the day this news came out, the latest delayed price for GM is 5.76% below the previous close. Our momentum scanner has recorded 10 alerts for this stock so far that day. The latest delayed price is $77.98. Relative volume is exceptionally heavy at 270.4x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Revenue: $50.0 billion Net income attributable to stockholders: $3.3 billion EBIT-adjusted: $4.1 billion +5 more

Revenue

$50.0 billion

Q3 2026; up 2.9% year over year

Net income attributable to stockholders

$3.3 billion

Q3 2026; versus $1.327 billion in Q3 2025

EBIT-adjusted

$4.1 billion

Q3 2026; versus $3.376 billion in Q3 2025

Full-year EBIT-adjusted guidance

$14.5 billion-$15.5 billion

2026 updated guidance; previous range was $14.0 billion-$16.0 billion

Adjusted automotive free cash flow guidance

$11.5 billion-$12.5 billion

2026 updated guidance; previous range was $9.5 billion-$11.5 billion

EPS-diluted-adjusted guidance

$12.75-$13.75

2026 updated guidance; previous range was $12.00-$14.00

Share repurchase authorization

$20.0 billion

New multi-year authorization

Quarterly cash dividend

$0.18 per share

Declared dividend on outstanding common stock

Previous Buybacks,dividends Reports

1 past event · Latest: Feb 26

Same Type 1 event

1. Feb 26

   Buyback and dividend

   24h Move

   +3.8%

   Previously authorized $6 billion in repurchases, including a $2 billion ASR, and raised the quarterly dividend to $0.15.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DETROIT, Oct. 20, 2026 /PRNewswire/ -- General Motors (NYSE: GM) today reported third-quarter 2026 revenue of $50.0 billion, net income attributable to stockholders of $3.3 billion, and EBIT-adjusted of $4.1 billion. 

The company is updating its full-year 2026 EBIT-adjusted guidance, narrowing the range. The company expects net income attributable to stockholders to be $8.9 billion to $9.5 billion; Automotive operating cash flow to be $17.3 billion to $20.3 billion; and EPS-diluted to be $9.72 to $10.72 based on its updated guidance and the impact of adjustments recorded year to date. These expected financial results do not include the potential impact of future adjustments related to special items. 

The table below shows the revised guidance and how it compares to prior guidance.

	Updated 2026 guidance	Previous 2026 guidance
EBIT-adjusted	$14.5 billion - $15.5 billion	$14.0 billion - $16.0 billion
Adjusted automotive free cash flow	$11.5 billion - $12.5 billion	$9.5 billion - $11.5 billion
EPS-diluted-adjusted	$12.75 - $13.75	$12.00 - $14.00

Board approves share repurchase program and quarterly dividend
The company also announced it has completed the $6.0 billion share repurchase program announced in January of 2026, and its Board of Directors has approved a new $20.0 billion multi-year share repurchase authorization.

The new share repurchase program, which has no expiration date, will be executed in accordance with applicable securities laws and regulations and may be suspended or discontinued at any time at the company's discretion.

As of September 30, 2026, the company had 849 million shares outstanding, down from 904 million at the end of 2025. There were 995 million shares outstanding at the end of 2024, and 1.2 billion at the end of 2023.   

GM also announced today that its Board of Directors has declared a quarterly cash dividend on the company's  outstanding common stock of $0.18 per share, payable December 17, 2026, to holders of the company's common stock at the close of trading on December 4, 2026. 

An overview of quarterly results and financial highlights appears below. Visit the GM Investor Relations website to download the company's earnings deck and GM Chair and CEO Mary Barra's Letter to Shareholders.

Conference call for investors and analysts

Mary Barra and GM Chief Financial Officer Paul Jacobson will host a conference call for the investment community at 8:30 a.m. ET today to discuss these results.

Conference call details are as follows:

• 1-800-857-9821 (U.S.)
• 1-517-308-9481 (international/caller-paid)
• Conference call passcode: General Motors
• An audio replay will be available on the GM Investor Relations website in the Events section.

Results Overview

	Three Months Ended
($M) except per share amounts	September 30, 2026	September 30, 2025	Change	% Change
Revenue	$            50,015	$            48,591	$       1,424	2.9 %
Net income (loss) attributable to stockholders(a)	$              3,335	$              1,327	$       2,008	n.m.
EBIT-adjusted	$              4,106	$              3,376	$          730	21.6 %
Net income margin(a)	6.7 %	2.7 %	4.0 ppts	n.m.
EBIT-adjusted margin	8.2 %	6.9 %	1.3 ppts	18.8 %
Automotive operating cash flow	$              8,049	$              6,070	$       1,979	32.6 %
Adjusted automotive free cash flow	$              5,882	$              4,201	$       1,681	40.0 %
EPS-diluted(a)	$                3.73	$                1.35	$         2.38	n.m.
EPS-diluted-adjusted	$                3.70	$                2.80	$         0.90	32.2 %
GMNA EBIT-adjusted	$              3,592	$              2,506	$       1,087	43.4 %
GMNA EBIT-adjusted margin	8.7 %	6.2 %	2.5 ppts	40.3 %
GMI EBIT-adjusted	$                   28	$                 226	$         (198)	(87.7) %
China equity income (loss)	$                   32	$                   80	$           (48)	(60.3) %
GM Financial EBT-adjusted	$                 668	$                 804	$         (136)	(16.9) %

(a)	n.m. = not meaningful

General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.

Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgment about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

Guidance Reconciliations

The following table reconciles expected Net income attributable to stockholders to expected EBIT-adjusted (dollars in billions):

	Year Ending December 31, 2026
	Updated(a)		Previous
Net income attributable to stockholders	$ 8.9-9.5		$ 8.4-9.8
Income tax expense	2.0-2.4		2.2-2.8
Automotive interest (income) expense, net	(0.1)		(0.1)
Adjustments	3.7		3.5
EBIT-adjusted	$ 14.5-15.5		$ 14.0-16.0

(a)	Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details. These expected financial results do not include the potential impact of future adjustments related to special items.

The following table reconciles expected EPS-diluted to expected EPS-diluted-adjusted:

	Year Ending December 31, 2026
	Updated(a)		Previous
Diluted earnings per common share	$ 9.72-10.72		$ 8.98-10.98
Adjustments	3.03		3.02
EPS-diluted-adjusted	$ 12.75-13.75		$ 12.00-14.00

(a)	Refer to the reconciliation of diluted earnings per common share to EPS-diluted-adjusted for adjustment details. These expected financial results do not include the potential impact of future adjustments related to special items.

The following table reconciles expected automotive net cash provided by operating activities to expected adjusted automotive free cash flow (dollars in billions):

	Year Ending December 31, 2026
	Updated(a)		Previous
Net automotive cash provided by operating activities	$ 17.3-20.3		$ 15.4-19.4
Less: Capital expenditures	10.0-12.0		10.0-12.0
Adjustments	4.2		4.1
Adjusted automotive free cash flow	$ 11.5-12.5		$ 9.5-11.5

(a)	These expected financial results do not include the potential impact of future adjustments related to special items.

 

General Motors Company and Subsidiaries1
Combining Income Statement Information
(In millions) (Unaudited)
	Three Months Ended September 30, 2026								Three Months Ended September 30, 2025
	Automotive		GM Financial		Reclassifications /Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Combined
Net sales and revenue
Automotive	$  45,706		$     —		$          —		$   45,706		$  44,256		$    —		$     —		$          —		$   44,256
GM Financial	—		4,312		(3)		4,309		—		—		4,337		(2)		4,335
Total net sales and revenue	45,706		4,312		(3)		50,015		44,256		—		4,337		(2)		48,591
Costs and expenses
Automotive and other cost of      sales	40,739		—		—		40,739		41,937		—		—		(1)		41,936
GM Financial interest,      operating, and other      expenses	—		3,651		(1)		3,651		—		—		3,542		—		3,542
Automotive and other selling,      general, and      administrative expense	2,029		—		(2)		2,027		2,038		—		—		(1)		2,037
Total costs and expenses	42,768		3,651		(3)		46,416		43,975		—		3,542		(2)		47,515
Operating income (loss)	2,938		660		—		3,598		281		—		795		—		1,076
Automotive interest expense	162		—		—		162		206		—		—		3		209
Interest income and other non-      operating income, net	274		—		—		274		473		—		—		3		475
Equity income (loss)	225		8		—		233		68		—		9		—		77
Income (loss) before income      taxes	$   3,274		$    668		$          —		$     3,943		$     615		$    —		$    804		$          —		$     1,419
Income tax expense (benefit)							565										127
Net income (loss)							3,377										1,293
Net loss (income) attributable to      noncontrolling interests							(42)										35
Net income (loss) attributable      to stockholders							$     3,335										$     1,327
Net income (loss) attributable      to common stockholders							$     3,305										$     1,297
	Nine Months Ended September 30, 2026								Nine Months Ended September 30, 2025
	Automotive		GM Financial		Reclassifications /Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Combined
Net sales and revenue
Automotive	$ 128,817		$       —		$          —		$ 128,817		$ 126,985		$      1		$       —		$          —		$ 126,986
GM Financial	—		12,855		(7)		12,848		—		—		12,756		(9)		12,747
Total net sales and revenue	128,817		12,855		(7)		141,665		126,985		1		12,756		(9)		139,732
Costs and expenses
Automotive and other cost of      sales	116,462		—		—		116,462		116,255		163		—		(2)		116,416
GM Financial interest,      operating, and other      expenses	—		10,928		(2)		10,926		—		—		10,599		—		10,600
Automotive and other selling,      general, and      administrative expense	6,298		—		(5)		6,293		6,054		111		—		(3)		6,161
Total costs and expenses	122,760		10,928		(7)		133,681		122,309		274		10,599		(5)		133,177
Operating income (loss)	6,056		1,928		—		7,984		4,676		(273)		2,156		(4)		6,555
Automotive interest expense	472		—		—		472		557		30		—		(27)		560
Interest income and other non-      operating income, net	804		(1)		—		803		1,174		2		(1)		(23)		1,151
Equity income (loss)	507		35		—		542		182		—		37		—		219
Income (loss) before income      taxes	$   6,896		$  1,962		$          —		$     8,858		$     5,474		$ (301)		$  2,193		$          —		$     7,366
Income tax expense (benefit)							1,422										1,326
Net income (loss)							7,436										6,040
Net loss (income) attributable      to noncontrolling interests							(168)										(33)
Net income (loss)      attributable to      stockholders							$    7,267										$     6,007
Net income (loss)      attributable to      common stockholders							$    7,206										$     6,510

1	Certain columns and rows may not add due to rounding.

General Motors Company and Subsidiaries¹
Basic and Diluted Earnings per Share
(Unaudited)

The following table summarizes basic and diluted earnings per share (in millions, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Basic earnings per share
Net income (loss) attributable to stockholders	$          3,335		$          1,327		$          7,267		$          6,007
Adjustments(a)	(31)		(30)		(62)		503
Net income (loss) attributable to common stockholders	$          3,305		$          1,297		$          7,206		$          6,510
Weighted-average common shares outstanding	872		944		893		965
Basic earnings per common share	$            3.79		$            1.37		$            8.07		$            6.75
Diluted earnings per share
Net income (loss) attributable to common stockholders –      diluted	$          3,305		$          1,297		$          7,206		$          6,510
Weighted-average common shares outstanding – diluted	887		964		908		980
Diluted earnings per common share	$            3.73		$            1.35		$            7.94		$            6.64
Potentially dilutive securities(b)	—		—		—		—

(a)	Includes a $593 million return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the nine months ended September 30, 2025.
(b)	Potentially dilutive securities attributable to Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) at September 30, 2026 and outstanding stock options, PSUs, and RSUs at September 30, 2025 were excluded from the computation of diluted earnings per share (EPS) because the securities would have had an antidilutive effect.

 

General Motors Company and Subsidiaries1
Combining Balance Sheet Information
(In millions, except per share amounts) (Unaudited)
	September 30, 2026								December 31, 2025
	Automotive		GM Financial		Reclassifications /Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Combined
ASSETS
Current Assets
Cash and cash equivalents	$    18,765		$     4,431		$             —		$   23,196		$   15,062		$     56		$     5,826		$             —		$   20,945
Marketable debt securities	4,351		258		—		4,609		6,685		—		39		—		6,724
Accounts and notes receivable, net(a)	15,589		2,335		(786)		17,138		12,199		76		1,506		(727)		13,054
GM Financial receivables, net(b)	—		46,802		(349)		46,453		—		—		45,661		(395)		45,266
Inventories	15,644		—		(3)		15,640		14,472		—		—		(5)		14,467
Other current assets	3,158		5,664		8		8,831		3,167		9		5,130		6		8,312
Total current assets	57,507		59,491		(1,130)		115,867		51,585		141		58,162		(1,120)		108,767
Non-current Assets
GM Financial receivables, net	—		44,979		—		44,979		—		—		44,384		—		44,384
Equity in net assets of      nonconsolidated affiliates	4,387		992		—		5,379		4,564		—		1,117		—		5,681
Property, net	54,657		142		—		54,798		51,458		99		126		—		51,683
Goodwill and intangible assets, net	2,926		1,350		—		4,276		3,018		—		1,348		—		4,366
Equipment on operating leases, net	—		32,244		—		32,244		—		—		33,686		—		33,686
Deferred income taxes	23,789		(1,644)		—		22,145		24,446		—		(1,486)		—		22,960
Other assets(b)	7,751		1,744		—		9,495		8,226		47		1,483		—		9,756
Total non-current assets	93,510		79,805		—		173,315		91,712		147		80,658		—		172,517
Total Assets	$  151,017		$ 139,296		$       (1,130)		$ 289,183		$  143,297		$    288		$ 138,820		$       (1,120)		$ 281,284
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (principally trade)(a)	$    29,917		$        628		$          (781)		$   29,764		$    24,075		$        1		$        491		$          (649)		$   23,919
Short-term debt and current portion of      long-term debt
Automotive(b)	878		—		(349)		529		1,120		7		—		(471)		656
GM Financial	—		42,939		—		42,939		—		—		35,012		—		35,012
Cruise	—		—		—		—		—		—		—		—		—
Accrued liabilities	27,534		5,563		—		33,097		28,956		54		4,744		—		33,754
Total current liabilities	58,329		49,130		(1,130)		106,330		54,151		63		40,248		(1,120)		93,342
Non-current Liabilities
Long-term debt
Automotive	15,270		—		—		15,270		15,522		70		—		—		15,591
GM Financial	—		70,005		—		70,005		—		—		79,018		—		79,018
Cruise	—		—		—		—		—		—		—		—		—
Postretirement benefits other than      pensions	3,905		—		—		3,905		4,025		—		—		—		4,025
Pensions	4,482		14		—		4,496		4,977		—		11		—		4,988
Other liabilities	21,033		3,626		—		24,659		17,495		281		3,375		—		21,151
Total non-current liabilities	44,690		73,645		—		118,335		42,019		351		82,404		—		124,775
Total Liabilities	103,019		122,775		(1,130)		224,664		96,170		414		122,652		(1,120)		218,116
Equity
Common stock, $0.01 par value	8		—		—		8		9		—		—		—		9
Additional paid-in capital(c)	18,749		1,018		(1,017)		18,749		18,086		1,842		1,077		(1,076)		19,928
Retained earnings	37,434		16,775		1		54,210		37,024		(1,968)		16,467		1		51,524
Accumulated other comprehensive      loss	(8,889)		(1,273)		—		(10,162)		(8,966)		—		(1,377)		—		(10,343)
Total stockholders' equity	47,302		16,521		(1,016)		62,806		46,153		(126)		16,167		(1,075)		61,119
Noncontrolling interests(c)	696		—		1,016		1,712		974		—		—		1,075		2,049
Total Equity	47,998		16,521		—		64,518		47,127		(126)		16,167		—		63,168
Total Liabilities and Equity	$  151,017		$ 139,296		$       (1,130)		$ 289,183		$  143,297		$    288		$ 138,820		$       (1,120)		$ 281,284

(a)	Eliminations primarily include GM Financial accounts and notes receivable of $0.6 billion due from Automotive and Automotive accounts receivable of $0.2 billion primarily due from GM Financial at September 30, 2026; and GM Financial accounts and notes receivable of $0.5 billion due from Automotive; and Automotive accounts receivable of $0.1 billion primarily due from GM Financial at December 31, 2025.
(b)	Eliminations primarily related to GM Financial accounts receivable due from Automotive.
(c)	Primarily reclassification of GM Financial Cumulative Perpetual Preferred Stock, Series A, B, and C. The preferred stock is classified as noncontrolling interests in our consolidated balance sheets.

 

General Motors Company and Subsidiaries1
Combining Cash Flow Information
(In millions) (Unaudited)
	Nine Months Ended September 30, 2026											Nine Months Ended September 30, 2025
	Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Combined			Automotive			Cruise		GM Financial		Reclassifications /Eliminations		Combined
Cash flows from operating activities
Net income (loss)	$   6,000		$    —		$ 1,436		$           —		$    7,436			$    4,732			$ (302)		$         1,610		$           —		$     6,040
Depreciation and impairment of      Equipment on operating leases, net	—		—		3,882		—		3,882			—			—		3,675		—		3,675
Depreciation, amortization, and      impairment charges on Property, net	5,099		—		26		—		5,126			6,375			12		25		—		6,412
Foreign currency remeasurement and      transaction (gains) losses	(37)		—		(8)		—		(45)			276			—		9		—		285
Undistributed earnings of      nonconsolidated affiliates, net	(99)		—		(35)		—		(134)			433			—		(37)		—		396
Pension contributions and OPEB      payments	(618)		—		(1)		—		(619)			(432)			—		(1)		—		(433)
Pension and OPEB (income) expense,      net	44		—		2		—		46			21			—		1		—		23
Provision (benefit) for deferred taxes	757		—		174		—		931			(64)			—		191		—		127
Change in other operating assets and      liabilities(a)(c)	2,508		—		(532)		(1,978)		(3)			1,787			(511)		594		1,678		3,548
Net cash provided by (used in)      operating activities	13,653		—		4,945		(1,978)		16,620			13,127			(800)		6,067		1,678		20,072
Cash flows from investing activities
Expenditures for property	(5,758)		—		(42)		—		(5,800)			(6,054)			(2)		(27)		—		(6,083)
Available-for-sale marketable      securities, acquisitions	(1,915)		—		(351)		—		(2,266)			(1,768)			—		(17)		—		(1,785)
Available-for-sale marketable      securities, liquidations	4,232		—		128		—		4,361			2,398			—		—		—		2,398
Purchases of finance receivables(a)	—		—		(29,287)		782		(28,505)			—			—		(28,246)		(5)		(28,251)
Principal collections and recoveries on      finance receivables(a)(b)	—		—		26,676		—		26,676			—			—		29,539		(3,016)		26,524
Proceeds from sale of finance      receivables	—		—		—		—		—			—			—		2,005		—		2,005
Purchases of leased vehicles	—		—		(9,565)		—		(9,565)			—			—		(12,609)		—		(12,609)
Proceeds from termination of leased      vehicles	—		—		8,267		—		8,267			—			—		7,780		—		7,780
Other investing activities(b)	209		—		—		66		276			(3,353)			—		1		901		(2,451)
Net cash provided by (used in)      investing activities	(3,231)		—		(4,173)		848		(6,556)			(8,777)			(2)		(1,574)		(2,120)		(12,473)
Cash flows from financing activities
Net increase (decrease) in short-term      debt	(3)		—		(56)		—		(59)			(10)			—		23		—		13
Proceeds from issuance of debt      (original maturities greater than      three months)(b)	190		—		34,127		—		34,316			2,019			555		35,103		(555)		37,122
Payments on debt (original maturities      greater than three months)	(315)		—		(34,375)		(20)		(34,710)			(1,862)			(4)		(35,502)		(24)		(37,391)
Payments to purchase common stock	(5,301)		—		—		—		(5,301)			(3,512)			—		—		—		(3,512)
Issuance (redemption) of subsidiary      stock(b)	—		—		—		—		—			—			—		—		(29)		(29)
Dividends paid(c)	(927)		—		(1,269)		1,150		(1,046)			(401)			—		(1,169)		1,050		(519)
Other financing activities	(401)		—		(95)		—		(496)			(160)			—		(114)		—		(274)
Net cash provided by (used in)      financing activities	(6,757)		—		(1,667)		1,130		(7,295)			(3,926)			551		(1,658)		442		(4,591)
Effect of exchange rate changes on      cash, cash equivalents, and      restricted cash	(34)		—		5		—		(29)			163			1		73		—		237
Net increase (decrease) in cash, cash      equivalents, and restricted cash	3,631		—		(890)		—		2,740			588			(250)		2,909		—		3,246
Cash, cash equivalents, and restricted      cash at beginning of period	15,241		—		9,043		—		24,284			14,561			322		8,081		—		22,964
Cash, cash equivalents, and restricted      cash at end of period	$  18,871		$    —		$ 8,153		$           —		$  27,024			$  15,148			$    72		$       10,990		$           —		$  26,210

(a)	Includes eliminations of $0.9 billion and $2.7 billion in the nine months ended September 30, 2026 and 2025 primarily driven by purchases/collections of wholesale finance receivables resulting from vehicles sold by GM to dealers that have arranged their inventory floor plan financing through GM Financial.
(b)	Eliminations include intercompany funding activity from Automotive and GM Financial to Cruise in the nine months ended September 30, 2025.
(c)	Eliminations include dividends issued by GM Financial to Automotive in the nine months ended September 30, 2026 and 2025.
Note: Certain intercompany transactions that are eliminated in consolidation are presented on a net basis.

General Motors Company and Subsidiaries¹

The following tables summarize key financial information (dollars in millions):

	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Total
Three Months Ended September 30, 2026
Net sales and revenue	$      41,419		$  4,085		$    201		$       —		$   45,706		$     —		$   4,312		$           (3)		$   50,015
Expenditures for property	$        2,235		$       98		$        1		$       —		$     2,333		$     —		$        13		$           —		$     2,346
Depreciation and amortization	$        1,564		$     121		$        6		$       —		$     1,691		$     —		$   1,244		$           —		$     2,935
Impairment charges	$           (79)		$       19		$      —		$       —		$        (60)		$     —		$        —		$           —		$        (60)
Equity income (loss)(a)(b)(c)	$           229		$       30		$     (39)		$       —		$        219		$     —		$          8		$           —		$        228
	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Total
Three Months Ended September 30, 2025
Net sales and revenue	$      40,551		$   3,645		$      60		$       —		$   44,256		$     —		$   4,337		$           (2)		$   48,591
Expenditures for property	$        2,011		$        92		$      11		$       —		$     2,113		$     —		$        17		$           —		$     2,130
Depreciation and amortization	$        1,703		$      114		$        4		$       —		$     1,821		$     —		$   1,245		$           —		$     3,066
Impairment charges	$        1,044		$        —		$      —		$       —		$     1,044		$     —		$        —		$           —		$     1,044
Equity income (loss)(a)(b)	$           214		$        83		$    (16)		$       —		$        281		$     —		$          9		$           —		$        290
	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Total
Nine Months Ended September 30, 2026
Net sales and revenue	$    117,732		$ 10,635		$    450		$       —		$  128,817		$     —		$ 12,855		$           (7)		$ 141,665
Expenditures for property	$        5,495		$      211		$      52		$       —		$      5,758		$     —		$        42		$           —		$     5,800
Depreciation and amortization	$        4,754		$      362		$      17		$       —		$      5,133		$     —		$   3,909		$           —		$     9,042
Impairment charges	$           (53)		$        19		$      —		$       —		$         (34)		$     —		$        —		$           —		$         (34)
Equity income (loss)(a)(b)(c)	$           (18)		$      273		$   (121)		$       —		$         134		$     —		$        35		$           —		$        169
	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications /Eliminations		Total
Nine Months Ended September 30, 2025
Net sales and revenue	$    117,424		$   9,398		$    163		$       —		$  126,985		$       1		$ 12,756		$           (9)		$ 139,732
Expenditures for property	$        5,729		$      274		$      50		$       —		$      6,054		$       2		$        27		$           —		$     6,083
Depreciation and amortization	$        4,933		$      347		$      39		$       —		$      5,319		$       5		$   3,701		$           —		$     9,026
Impairment charges	$        1,044		$        18		$      —		$       —		$      1,063		$     —		$        —		$           —		$     1,063
Equity income (loss)(a)(b)	$           469		$      208		$    (30)		$       —		$         647		$     —		$        37		$           —		$        684

(a)	Includes Automotive China joint ventures (Automotive China JVs) equity income (loss) of $32 million and $280 million in the three and nine months ended September 30, 2026 and $80 million and $197 million in the three and nine months ended September 30, 2025.
(b)	Equity income (loss) related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution, is presented in Automotive and other cost of sales as this entity has historically been integral to the operations of our business by providing battery cells for our electric vehicles (EVs). Equity income (loss) related to Ultium Cells Holdings LLC was insignificant in the three and nine months ended September 30, 2026 and $213 million and $465 million in the three and nine months ended September 30, 2025.
(c)	Equity income (loss) in GMNA includes gains from the sale of an equity investment in the three and nine months ended September 30, 2026 and impacts of impairment charges for EV strategic realignment in the nine months ended September 30, 2026.

General Motors Company and Subsidiaries
Supplemental Material¹
(Unaudited)

General Motors Company (GM) uses both generally accepted accounting principles (GAAP) and non-GAAP financial measures for operational and financial decision making, and to assess Company and segment business performance. Our non-GAAP measures include: earnings before interest and taxes (EBIT)-adjusted, presented net of noncontrolling interests; earnings before income taxes (EBT)-adjusted for our General Motors Financial Company, Inc. (GM Financial) segment; earnings per share (EPS)-diluted-adjusted; effective tax rate-adjusted (ETR-adjusted); return on invested capital-adjusted (ROIC-adjusted); and adjusted automotive free cash flow. GM's calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.

These non-GAAP measures allow management and investors to view operating trends, perform analytical comparisons, and benchmark performance between periods and among geographic regions to understand operating performance without regard to items we do not consider a component of our core operating performance. Furthermore, these non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve ROIC-adjusted. Management uses these measures in its financial, investment, and operational decision-making processes, for internal reporting, and as part of its forecasting and budgeting processes. Further, our Board of Directors uses certain of these and other measures as key metrics to determine management performance under our performance-based compensation plans. For these reasons, we believe these non-GAAP measures are useful for our investors.

EBIT-adjusted (Most comparable GAAP measure: Net income attributable to stockholders)  EBIT-adjusted is presented net of noncontrolling interests and is used by management and can be used by investors to review our consolidated operating results because it excludes automotive interest income, automotive interest expense, and income taxes as well as certain additional adjustments that are not considered part of our core operations. Examples of adjustments to EBIT include, but are not limited to, impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions, and certain costs arising from legal matters. For EBIT-adjusted and our other non-GAAP measures, once we have made an adjustment in the current period for an item, we will also adjust the related non-GAAP measure in any future periods in which there is an impact from the item. Our corresponding measure for our GM Financial segment is EBT-adjusted because interest income and interest expense are an integral part of its financial performance. 

EPS-diluted-adjusted (Most comparable GAAP measure: Diluted earnings per common share)  EPS-diluted-adjusted is used by management and can be used by investors to review our consolidated diluted EPS results on a consistent basis. EPS-diluted-adjusted is calculated as net income attributable to common stockholders-diluted less adjustments noted above for EBIT-adjusted and certain income tax adjustments divided by weighted-average common shares outstanding-diluted. Examples of income tax adjustments include the establishment or release of significant deferred tax asset valuation allowances.

ETR-adjusted (Most comparable GAAP measure: Effective tax rate)  ETR-adjusted is used by management and can be used by investors to review the consolidated effective tax rate for our core operations on a consistent basis. ETR-adjusted is calculated as Income tax expense less the income tax related to the adjustments noted above for EBIT-adjusted and the income tax adjustments noted above for EPS-diluted-adjusted divided by Income before income taxes less adjustments. When we provide an expected adjusted effective tax rate, we cannot provide an expected effective tax rate without unreasonable efforts because the U.S. GAAP measure may include significant adjustments that are difficult to predict. 

ROIC-adjusted (Most comparable GAAP measure: Return on equity)  ROIC-adjusted is used by management and can be used by investors to review our investment and capital allocation decisions. We define ROIC-adjusted as EBIT-adjusted for the trailing four quarters divided by ROIC-adjusted average net assets, which is the average equity balances adjusted for average automotive debt and interest liabilities, exclusive of finance leases; average automotive net pension and other postretirement benefits (OPEB) liabilities; and average automotive net income tax assets during the same period.

Adjusted automotive free cash flow (Most comparable GAAP measure: Net automotive cash provided by operating activities)  Adjusted automotive free cash flow is used by management and can be used by investors to review the liquidity of our automotive operations and to measure and monitor our performance against our capital allocation program and evaluate our automotive liquidity against the substantial cash requirements of our automotive operations. We measure adjusted automotive free cash flow starting with automotive operating cash flow from operations. We subtract capital expenditures, add the imputed cash effects of third-party payments made on our behalf for inventory banking, and subtract the cash effects when the banked inventory is consumed. The result is then adjusted for management actions, which can include voluntary events such as discretionary contributions to employee benefit plans or nonrecurring specific events such as a closure of a facility that are considered special for EBIT-adjusted purposes.

The following table reconciles Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) (dollars in millions):

	Three Months Ended				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Net income (loss) attributable to stockholders	$            3,335		$            1,327		$             7,267		$            6,007
Income tax expense (benefit)	565		127		1,422		1,326
Automotive interest expense	162		209		472		560
Automotive interest income	(195)		(220)		(551)		(611)
Adjustments
EV strategic realignment(a)	238		1,592		3,594		1,922
China restructuring actions(b)	—		—		99		140
Legal matters(c)	—		300		—		300
Restructuring and other strategic actions(d)	—		41		—		260
Total adjustments	238		1,933		3,693		2,622
EBIT-adjusted	4,106		3,376		12,302		9,903
Operating segments
GM North America (GMNA)	3,592		2,506		10,699		8,207
GM International (GMI)	28		226		342		460
Cruise	—		—		—		(273)
GM Financial(e)	668		804		1,962		2,193
Total operating segments	4,289		3,536		13,003		10,587
Corporate and eliminations(f)	(183)		(160)		(700)		(684)
EBIT-adjusted	$            4,106		$            3,376		$           12,302		$            9,903

(a)	These adjustments were excluded because they relate to our strategic realignment of our EV capacity and manufacturing footprint, including Ultium's strategic realignment.
(b)	These adjustments were excluded because they relate to restructuring activities associated with our operations in China, including an other-than-temporary impairment and restructuring charges recorded in equity earnings associated with our Automotive China JVs.
(c)	These adjustments were excluded because they relate to investigations and litigation associated with our former OnStar Smart Driver product.
(d)	These adjustments were excluded because they relate to restructuring and strategic actions associated with employee separations, autonomous and assisted driving, manufacturing operations in Colombia and Ecuador, and the GM headquarters relocation.
(e)	GM Financial amounts represent EBT-adjusted.
(f)	GM's automotive interest income and interest expense, corporate expenditures, legacy costs from the Opel/Vauxhall Business (primarily pension costs), and certain revenues and expenses that are not part of a reportable segment are recorded centrally in Corporate.

The following table reconciles diluted earnings per common share to EPS-diluted-adjusted (dollars in millions, except per share amounts):

	Three Months Ended								Nine Months Ended
	September 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
	Amount		Per Share		Amount		Per Share		Amount		Per Share		Amount		Per Share
Diluted earnings per common share	$ 3,305		$  3.73		$ 1,297		$  1.35		$ 7,206		$  7.94		$ 6,510		$  6.64
Adjustments(a)	238		0.27		1,933		2.01		3,693		4.07		2,622		2.67
Tax effect on adjustments(b)	(57)		(0.06)		(536)		(0.56)		(736)		(0.81)		(606)		(0.62)
Tax adjustments(c)	(208)		(0.23)		—		—		(208)		(0.23)		—		—
Return from preferred shareholders(d)	—		—		—		—		—		—		(593)		(0.60)
EPS-diluted-adjusted	$ 3,278		$  3.70		$ 2,694		$  2.80		$ 9,955		$ 10.97		$ 7,933		$  8.09

(a)	Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.
(b)	The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.
(c)	These adjustments consist of tax benefits from a change to a subsidiary's legal entity tax classification.
(d)	This adjustment consists of a return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the nine months ended September 30, 2025.

The following table reconciles our effective tax rate to ETR-adjusted (dollars in millions):

	Three Months Ended												Nine Months Ended
	September 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
	Income before income taxes		Income tax expense (benefit)		Effective tax rate		Income before income taxes		Income tax expense (benefit)		Effective tax rate		Income before income taxes		Income tax expense (benefit)		Effective tax rate		Income before income taxes		Income tax expense (benefit)		Effective tax rate
Effective tax rate	$ 3,943		$  565		14.3 %		$       1,419		$ 127		8.9 %		$      8,858		$       1,422		16.1 %		$       7,366		$       1,326		18.0 %
Adjustments(a)	238		57				1,933		536				3,693		736				2,622		606
Tax adjustments(b)	—		208				—		—				—		208				—		—
ETR-adjusted	$ 4,181		$  830		19.9 %		$       3,352		$ 663		19.8 %		$    12,551		$       2,366		18.9 %		$       9,988		$       1,932		19.3 %

(a)	Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details. These adjustments include Net income attributable to noncontrolling interests where applicable. The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.
(b)	Refer to the reconciliation of diluted earnings (loss) per common share to EPS-diluted adjusted for adjustment details.

We define return on equity (ROE) as Net income (loss) attributable to stockholders for the trailing four quarters divided by average equity for the same period. Management uses average equity to provide comparable amounts in the calculation of ROE. The following table summarizes the calculation of ROE (dollars in billions):

	Four Quarters Ended
	September 30, 2026		September 30, 2025
Net income attributable to stockholders	$             4.0		$             3.0
Average equity(a)	$           62.1		$           65.2
ROE	6.4 %		4.7 %

(a)	Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in Net income attributable to stockholders.

The following table summarizes the calculation of ROIC-adjusted (dollars in billions):

	Four Quarters Ended
	September 30, 2026		September 30, 2025
EBIT-adjusted(a)	$           15.1		$           12.4
Average equity(b)	$           62.1		$           65.2
Add: Average automotive debt and interest liabilities (excluding finance leases)	15.9		16.1
Add: Average automotive net pension and OPEB liability	7.6		8.7
Less: Average automotive net income tax asset	(24.5)		(22.9)
ROIC-adjusted average net assets	$           61.1		$           67.1
ROIC-adjusted	24.8 %		18.5 %

(a)	Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.
(b)	Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT-adjusted.

The following table reconciles Net automotive cash provided by operating activities to adjusted automotive free cash flow (dollars in millions):

	Three Months Ended				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Net automotive cash provided by operating activities	$         8,049		$         6,070		$       13,653		$       13,127
Less: Capital expenditures	(2,333)		(2,113)		(5,758)		(6,054)
Add: Imputed operating cash outflows	39		—		39		—
Add(less): EV strategic realignment	139		—		4,242		(103)
Add: Restructuring and other strategic actions	1		243		7		859
Add: China restructuring actions	—		1		—		10
Less: Legal matters	(13)		—		—		—
Adjusted automotive free cash flow	$         5,882		$         4,201		$       12,184		$         7,840

Vehicle Sales

GM presents both wholesale and total vehicle sales data to assist in the analysis of our revenue and market share. Wholesale vehicle sales data consists of sales to GM's dealers and distributors as well as sales to the U.S. Government, and excludes vehicles sold by our joint ventures. Wholesale vehicle sales data correlates to GM's revenue recognized from the sale of vehicles, which is the largest component of Automotive net sales and revenue. In the nine months ended September 30, 2026, 27.6% of GM's wholesale vehicle sales volume was generated outside the U.S. The following table summarizes wholesale vehicle sales by our Automotive operations (vehicles in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
GMNA	870		840		2,511		2,516
GMI	159		137		407		346
Total	1,028		977		2,917		2,862

Total vehicle sales data represents: (1) retail sales (i.e., sales to consumers who purchase new vehicles from dealers or distributors); (2) fleet sales (i.e., sales to large and small businesses, governments, and daily rental car companies); and (3) certain vehicles used by dealers in their business, including but not limited to courtesy transportation vehicles previously used by dealers that were sold to the end consumer. Total vehicle sales data includes all sales by joint ventures on a total vehicle basis, not based on our percentage ownership interest in the joint venture, including vehicle sales of non-GM trademarked vehicles, which are included in the total vehicle sales we report for China. While total vehicle sales data does not correlate directly to the revenue GM recognizes during a particular period, we believe it is indicative of the underlying demand for GM's vehicles. Total vehicle sales data represents management's good faith estimate based on sales reported by our dealers, distributors, and joint ventures; commercially available data sources, such as registration and insurance data; and internal estimates and forecasts when other data is not available.

The following table summarizes industry and GM total vehicle sales and GM's related competitive position by geographic region (vehicles in thousands):

	Three Months Ended												Nine Months Ended
	September 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
	Industry		GM		Market Share		Industry		GM		Market Share		Industry		GM		Market Share		Industry		GM		Market Share
North America
United States	4,174		671		16.1 %		4,229		710		16.8 %		12,277		2,012		16.4 %		12,567		2,150		17.1 %
Other	1,045		126		12.1 %		1,015		127		12.5 %		3,032		376		12.4 %		3,007		384		12.8 %
Total North America	5,219		797		15.3 %		5,244		837		16.0 %		15,309		2,388		15.6 %		15,574		2,534		16.3 %
Asia/Pacific, Middle East,      and Africa
China(a)	5,403		358		6.6 %		6,934		469		6.8 %		15,816		1,065		6.7 %		19,333		1,359		7.0 %
Other	5,778		115		2.0 %		5,718		149		2.6 %		17,501		329		1.9 %		17,010		369		2.2 %
Total Asia/Pacific, Middle      East, and Africa	11,181		474		4.2 %		12,652		618		4.9 %		33,317		1,394		4.2 %		36,342		1,729		4.8 %
South America
Brazil	836		84		10.1 %		711		72		10.1 %		2,255		225		10.0 %		1,910		192		10.1 %
Other	485		35		7.1 %		456		35		7.7 %		1,408		103		7.3 %		1,268		95		7.5 %
Total South America	1,321		119		9.0 %		1,168		107		9.2 %		3,663		328		9.0 %		3,177		287		9.0 %
Total in GM markets	17,721		1,390		7.8 %		19,064		1,562		8.2 %		52,288		4,111		7.9 %		55,093		4,549		8.3 %
Total Europe	4,007		1		— %		4,002		1		— %		13,020		1		— %		12,611		2		— %
Total Worldwide(b)	21,729		1,390		6.4 %		23,066		1,563		6.8 %		65,309		4,112		6.3 %		67,704		4,551		6.7 %
United States
Cars	667		12		1.7 %		649		12		1.8 %		1,991		36		1.8 %		2,076		44		2.1 %
Trucks	1,159		359		31.0 %		1,142		369		32.3 %		3,343		1,061		31.7 %		3,414		1,115		32.6 %
Crossovers	2,348		300		12.8 %		2,437		330		13.5 %		6,943		915		13.2 %		7,076		992		14.0 %
Total United States	4,174		671		16.1 %		4,229		710		16.8 %		12,277		2,012		16.4 %		12,567		2,150		17.1 %
China(a)
SGMS			90						130						300						381
SGMW			269						339						765						978
Total	5,403		358		6.6 %		6,934		469		6.8 %		15,816		1,065		6.7 %		19,333		1,359		7.0 %

(a)	Includes sales by the Automotive China JVs: SAIC General Motors Sales Co., Ltd. (SGMS) and SAIC GM Wuling Automobile Co., Ltd. (SGMW).
(b)	Cuba, Iran, North Korea, and Sudan have been subject to broad economic sanctions. Accordingly, these countries are excluded from industry sales data and corresponding calculation of market share.

As discussed above, total vehicle sales and market share data provided in the table above includes fleet vehicles. Certain fleet transactions, particularly sales to daily rental car companies, are generally less profitable than retail sales to end customers. The following table summarizes estimated fleet sales and those sales as a percentage of total vehicle sales (vehicles in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
GMNA	160		148		551		498
GMI	107		113		302		277
Total fleet sales	267		261		853		775
Fleet sales as a percentage of total vehicle sales	19.2 %		16.7 %		20.7 %		17.0 %

 

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SOURCE General Motors

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did GM authorize for its new share buyback?

GM's board approved a $20.0 billion multi-year share repurchase authorization with no expiration date. The company also completed the $6.0 billion repurchase program announced in January 2026.

What is GM's updated 2026 adjusted automotive free cash flow guidance?

GM expects $11.5 billion–$12.5 billion in 2026 adjusted automotive free cash flow, compared with its previous outlook of $9.5 billion–$11.5 billion.

Who qualifies for GM's December 2026 quarterly dividend?

Holders of GM common stock at the close of trading on December 4, 2026, qualify for the $0.18-per-share quarterly cash dividend. Payment is scheduled for December 17, 2026.

What capital expenditures does GM expect in 2026?

GM expects $10.0 billion–$12.0 billion in 2026 capital expenditures, unchanged from its previous guidance.

Does GM's updated 2026 guidance include future special-item adjustments?

GM's expected 2026 financial results exclude the potential impact of future adjustments related to special items. Its updated net income and diluted EPS expectations reflect adjustments recorded year to date.