NEW YORK (AP) — General Motors is expecting a $500 million tariff refund after the Supreme Court struck down some of President Donald Trump’s most sweeping levies.
That’s boosted the Detroit auto maker’s outlook for 2026. On Tuesday, GM said it’s now looking to rake in $13.5 billion to $15.5 billion in earnings before interest and taxes this year — up from previous forecasts of $13 billion to $15 billion.
The refund is set to ease the company’s total tariff expenses some. GM anticipates paying $2.5 billion to $3.5 billion in tariff costs for 2026, the company said Tuesday, down from an original estimate of $3 billion to $4 billion.
“We are clearly operating in a very dynamic environment, which isn’t unusual for this industry,” CEO Mary Barra wrote in a letter to shareholders. Still, she maintained the company was seeing solid growth and a strong balance sheet “to achieve our long-term goals.”
For the first quarter of 2026, GM reported earnings of $2.63 billion and a revenue of $43.62 billion.