- GM posts $48 billion revenue and $1.3 billion Q2 net income with adjusted EBIT up 30% to $3.9 billion.
- China equity income rises 16.9%, marking seven consecutive profitable quarters and surging EV deliveries.
- Company raises 2026 targets, forecasting $14–$16B adjusted EBIT and $12–$14 EPS.
General Motors on Tuesday released its second-quarter 2026 financial results, reporting revenue of $48 billion, up 1.9% year on year, and net income of $1.3 billion.
Adjusted earnings before interest and taxes (EBIT) reached $3.9 billion, an increase of 29.8% year on year, with adjusted EBIT margin rising to 8.2%. Adjusted automotive operating cash flow reached $5 billion.
In China, GM’s equity income increased 16.9% year on year, marking the company’s seventh consecutive profitable quarter in the market and another quarter of year-on-year profit growth.
Previously released sales data showed that GM delivered more than 357,000 vehicles in China during the second quarter, broadly in line with the approximately 350,000 units delivered in the first quarter.
Amid accelerating electrification efforts in China, GM is introducing more locally tailored products through brands including Wuling, Buick and Baojun to adapt to changing market competition.
Wuling remains a major contributor to GM’s sales in China.
During the second quarter, deliveries of the Wuling Hongguang MINI EV family exceeded 43,000 units, while the Bingo series surpassed 51,000 units in sales.
Among them, the Wuling Bingo Pro, launched in May this year, delivered strong performance.
Its second-quarter sales exceeding 31,000 units, making it one of GM’s most successful new energy vehicle products in China.
Recent reports suggest that GM plans to license the Wuling Bingo Pro platform and rebadge it under the Chevrolet brand for sales in multiple global markets.
Beyond Wuling, new models from Buick and Baojun are also taking on a greater role in GM’s electrification transition.
The Baojun Huajing S, launched in May, is positioned as a large six-seat PHEV SUV and features Huawei’s Qiankun ADS system.
The model recorded more than 9,100 deliveries in its first quarter after launch.
The Buick Electra E7, launched in April, is built on the locally developed “Xiaoyao” Super Fusion Architecture and became one of the fastest joint-venture new energy models in China to surpass 10,000 deliveries.
Traditional core models continued to provide stable sales support for GM China.
During the second quarter, the Buick GL8 family recorded more than 22,000 sales, including over 3,500 units of the Buick Century.
The Buick Envision family exceeded 18,000 units in sales, while Cadillac XT5 sales surpassed 10,000 units.
Meanwhile, the Cadillac Vistiq, launched in April, further expanded GM’s product lineup in the premium EV segment.
Globally, GM remained the top-selling automaker in the U.S. and ranked second in EV sales.
The company’s sales incentive spending has remained below the industry average for three consecutive years.
Following improved quarterly performance, GM raised its full-year 2026 financial targets.
Adjusted EBIT is now expected to reach $14 billion to $16 billion, while the automotive business free cash flow target has been increased to $9.5 billion-$11.5 billion.
The company also raised its adjusted earnings per share forecast to $12.00-$14.00.
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