General Motors (GM) risk factors: FY2025 10-K

1. If we do not deliver new products, services, technologies, and customer experiences in response to increased competition and changing consumer needs and preferences, our business could suffer.
2. Our ability to attract and retain talented and highly skilled employees is critical to our success and competitiveness.
3. Our ability to maintain profitability is dependent upon our ability to timely fund and introduce new and improved vehicle models that are able to attract a sufficient number of consumers.reworded

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1. Our long-term EV strategy is dependent upon our ability to profitably deliver a strategic portfolio of EVs.reworded
2. The success of our long-term EV strategy is dependent on consumer adoption of EVs.reworded
3. Our near-term profitability is dependent upon the success of our current line of vehicles, particularly our full-size ICE SUVs and full-size ICE pickup trucks.reworded
4. We operate in a highly competitive industry that has historically had excess manufacturing capacity, and attempts by our competitors to sell more vehicles could have a significant negative effect on our vehicle pricing, market share, and results of operations.reworded

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1. We refocused our AV strategy on personal vehicles and the execution of this strategy is dependent upon our ability to successfully mitigate unique technological, operational, regulatory, and competitive risks.reworded

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1. We are subject to risks associated with climate change, including evolving regulation of GHG emissions and changing consumer preferences and demand, and the potential increased impacts of severe weather events on our operations and infrastructure.reworded

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1. Our business is highly dependent upon global automobile market sales volume, which can be volatile.
2. Inflationary pressures and persistently high prices and uncertain availability of commodities, raw materials, or other inputs used by us and our suppliers, or instability in logistics and related costs, could negatively impact our profitability.

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1. Tariffs applicable to the automotive industry continue to evolve, including in the U.S., where the government has signaled tariff policy may shift in the future. Such tariffs could have a material adverse effect on our financial condition and results of operations.newTariffs
2. Our business in China subjects us to unique operational, competitive, regulatory, and economic risks.rewordedChina
3. We benefit from many ongoing joint ventures and other strategic business relationships, particularly with respect to manufacturing EV battery cells and facilitating access to raw materials necessary for the production of EVs, which we cannot operate solely for our benefit and over which we may have limited control.reworded

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1. The international scale and footprint of our operations expose us to additional risks.

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1. Any significant disruption at one of our manufacturing facilities could disrupt our production schedule.
2. Disruption in our suppliers’ operations have disrupted, and could in the future disrupt, our production schedule.
3. Pandemics, epidemics, disease outbreaks, and other public health crises have disrupted our business and operations, and future public health crises could materially adversely impact our business, financial condition, liquidity, and results of operations.

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1. Competitors may independently develop products and services similar to ours, and there are no guarantees that GM’s intellectual property rights would prevent competitors from independently developing or selling those products and services.

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1. Security breaches, cyberattacks, and other disruptions to information technology systems and networked products, including connected vehicles, owned or maintained by us, GM Financial, service providers, such as data processors, or third parties, such as vendors or suppliers, could materially compromise our operations and/or sensitive customer data and proprietary information.rewordedCybersecurity

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1. Our operations and products are subject to extensive laws, regulations, and policies, including those related to vehicle emissions and fuel economy standards, which can significantly increase our costs and affect how we do business.

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1. We could be materially adversely affected by unusual or significant litigation, governmental investigations, or other proceedings.
2. The costs and effect on our reputation of product safety recalls and alleged defects in products and services could materially adversely affect our business.
3. We may incur additional tax expense, become subject to additional tax exposure, or fail to fully realize available tax incentives.reworded

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1. We rely on GM Financial to provide financial services to our customers and dealers.

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1. Our pension funding requirements could increase significantly due to a reduction in funded status as a result of a variety of factors, including weak performance of financial markets, declining interest rates, changes in the level of benefits provided for by the plans, changes in laws or regulations, or changes in assumptions or investments that do not achieve adequate returns.Interest rates

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