General Motors Co.'s profits are rising as the Detroit automaker leans into money-making trucks and stops the bleeding from money-losing electric vehicles. One by-product: payouts to stockholders.

The automaker on Tuesday reported profits of $3.9 billion from April to June, up almost $1 billion compared to the same time last year. That's when Trump administration tariffs shocked the market and EV panic buying peaked.

GM is giving out a quarterly cash dividend of $0.18 per share, payable Sept. 17 at the close of trading Sept. 4. And GM CEO Mary Barra told investors Tuesday that the company is hopeful for even greater profits next year, prompting GM shares to close the day at $79.61, up nearly 4.9%.

“The investments we are making to onshore production, launch key vehicles, and expand full-size SUV capacity will give us more flexibility and position us to grow revenue, gain market share, and improve profitability in 2027," Barra said.

In a letter to stockholders, she said demand in North America "remains strong, driven by our very attractive lineup of pickups and SUVs."

Pickup truck sales overall have continued to dominate in the United States, a sign of strong demand for large vehicles despite high gas prices and affordability complaints. Pickups and SUVs were GM most-popular models over the last three months, according to sales data.

Lower demand for trucks has "been predicted for several months now, and it's just not happening," Barra told investors and industry analysts Tuesday. "We're seeing really strong full-size truck demand and full-size utility, for that matter."

High gas prices or other cost pressures on customers "would have to happen for a long period of time before people would make potentially a different decision" and abandon trucks, Barra added.

GM for the second time this year raised earnings expectations, now up to $14 billion to $16 billion before tax and interest this year. GM executives previously said they expected the company to book between $13.5 billion and $15.5 billion in 2026.

The upcoming launch of GM's refreshed truck lineup is temporarily cutting into profits, executives said, as the automaker ramps up hiring to start manufacturing. But those headwinds are expected to turn into tailwinds next year, when GM can start raking in revenue from new pickup sales.

Total GM sales in the first half of the year were down about 7%, or roughly 100,000 fewer vehicles, from what the Detroit automaker has described as a record sales year in 2025.

EV costs and savings

Chief Financial Officer Paul Jacobson on Tuesday said GM continues to save money by paring down EV manufacturing, which had been unprofitable but necessary under now-toothless tailpipe emissions limits. He said GM expects $1 billion to $1.5 billion in savings this year from right-sizing its EV business and at least another $500 million in savings related to eased federal enforcement of emission rules.

In total, GM has reported nearly $11 billion in EV-related losses since President Donald Trump last year rolled back emissions enforcement and ended a $7,500 tax credit for EV lessees and buyers. Some of those losses include purchases GM made to comply with emissions rules and increase EV manufacturing that no longer are considered as valuable for tax purposes.

Jacobson said GM is looking at about $7.2 billion in EV-related cash losses, primarily payouts to suppliers for canceled orders of EV parts the automaker no longer needs. But he said the pain is almost over, which will help profitability next year.

“I'm proud to say that we believe these actions substantially complete the material cash charges we expect to incur as we align our EV capacity and manufacturing footprint with the changes in regulatory policy," Jacobson said. "While circumstances may change in the future, and we may have some true-ups, it's important to get this work behind us.”

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