“We will maintain disciplined production levels and are on track to achieve our year-end inventory target of 50 to 60 days.”

In context

“or 2025 has improved from the original $4 billion to $5 billion gross impact to a range of $3.5 billion to $4.5 billion, driven by the expansion of the MSRP tariff offset. We expect to offset around 35% of this lower gross tariff impact through go-to-market cost and footprint initiatives. Relative to deliveries, we now expect a calendar year 2025 total vehicle SAAR of around 16.5 million units. From a wholesale perspective, seasonality will play a role in Q4 relative to Q3 with 7 fewer production days in the U.S., along with lower EV wholesales following the phaseout of the consumer credit. For the full year, we continue to expect North American pricing to be up 0.5 point to 1%. In the fourth quarter, model year 2026 pricing will be partially offset by higher seasonal industry incentives. We will maintain disciplined production levels and are on track to achieve our year-end inventory target of 50 to 60 days. GM Financial is on track to deliver on its guidance of $2.5 billion to $3 billion of EBT-adjusted for the full year, reflecting continued strong performance. Now looking ahead to 2026, we have multiple levers to carry our current momentum forward, including progress on EV losses, warranty costs, tariff offsets, regulatory requirements and fixed costs. As a result, we expect next year to be even better than 2025. In closing, GM is stronger and more resilient than ever. We are adjusting our business to a new tariff and regulatory environment. In addition to the self-help initiatives I mentioned earlier, we are expanding our U.S. capacity and working together with our suppliers to increase U.S. content. We see a clear path back to our historical 8% to 10% EBIT margins in North America over t”