General Motors raised its guidance for the second time this year as North American profits jumped 43 percent from a year ago, even though net income has fallen in the second quarter with more electric vehicle write-downs. Finance and insurance managers are concerned about the number of customers with negative equity, and Canada’s counter tariffs are costing the U.S. $5 billion in vehicle exports. Plus, Automotive News Reporter Mark Hollmer discusses how dealers are adding TikTok to their arsenal of social media marketing.

July 21, 2026 | GM raises guidance as Q2 profits soar; negative equity worries F&I managers

Automotive News Daily Drive

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[SPEAKER_B] Welcome to Daily Drive for Tuesday, July 21, 2026. I'm Kellen Walker in Las Vegas. Today on the show, General Motors raised its guidance for the second time this year. Why negative equity is becoming a problem for F&I managers. And Canada's counter tariffs are costing the U.S. billions of dollars in exports. Plus, Automotive News reporter Mark Hollmer joins us to talk about how dealers are using TikTok to sell more cars.

[SPEAKER_C] Crucial moment was last year when TikTok launched a platform that was specific to dealerships to allow them to run advertising.

[SPEAKER_B] Let's run through all the news you need to know to keep up in the auto industry. General Motors' net income fell by almost a third in its second quarter after more electric vehicle write-downs. But the automaker raised its guidance for the second time this year as sales and transaction prices continue to go up. GM's North American profits surged by 43% from a year earlier. Global adjusted earnings before interest and taxes rose 30% to almost $4 billion. Globally, operating margins and revenue are both up. Despite the operational gains, net income declined because the company took a $2.3 billion charge tied to its electric vehicle realignment. Upcoming redesigns to two of GM's top-selling and most profitable vehicles, the Chevrolet Silverado and GMC Sierra, should further boost profits, said CEO Mary Barra. She also noted that the company plans to bring significant production into the U.S. to reduce its exposure to President Donald Trump's import tariffs.

July 21, 2026 | GM raises guidance as Q2 profits soar; negative equity worries F&I managers

Read the full transcript

The candid version is on a podcast,
not the earnings call.

July 21, 2026 | GM raises guidance as Q2 profits soar; negative equity worries F&I managers

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.