General Motors (GM) emerged as the top-selling automaker in the U.S. in 2025, achieving a market share of approximately 17%. The company reported a robust earnings performance, exceeding estimates for 14 consecutive quarters. In contrast, Ford (F) finished 2025 in third place with a 13.2% market share, ending a streak of earnings beats after facing significant EV-related charges totaling $15.5 billion.
For 2026, GM anticipates adjusted EBIT between $13-$15 billion and automotive operating cash flow of $19-$23 billion, while Ford expects adjusted EBIT of $8-$10 billion, improving from $6.8 billion in 2025. Both companies are navigating challenges including decreased EV demand and high tariffs, with GM facing projected tariff costs of $3-4 billion in 2026, while Ford estimates a reduction to around $1 billion.
In terms of investments, GM plans to grow its software and services business, expecting deferred revenues to reach $7.5 billion by the end of 2026. Meanwhile, Ford is focusing on its Ford Pro division and a $1.5 billion investment in battery storage, indicating strategic efforts to diversify revenue streams beyond traditional auto sales.
