GM posts $48 billion Q2 revenue, raises earnings outlook

General Motors reported strong second-quarter profits on Tuesday, July 21, 2026, surpassing Wall Street expectations and raising its full-year financial outlook, even as its vehicle sales declined. The Detroit automaker posted record revenue of $48 billion for the quarter, exceeding analyst forecasts of approximately $47 billion. Adjusted earnings per share came in at $3.06, beating the consensus estimate of $3.20.

The company's performance was driven by robust results in North America, where disciplined pricing and strong demand for profitable trucks and SUVs led to an adjusted earnings margin of 10.9 percent. Full-size pickups were a particular bright spot, with the GMC Sierra achieving record sales and GM maintaining a leading share of that segment. The company noted it achieved these results without heavy discounting, with average transaction prices remaining high and incentives continuing to run below the industry average.

However, total U.S. wholesale vehicle sales fell about 4 percent year-over-year to roughly 715,000 units. Company officials attributed the decline to several discontinued models and a slowdown in electric vehicle demand following changes to federal tax...