GM warns of intense US competition from global rivals

General Motors is preparing to keep its operations as lean as possible as competition heats up in the United States. In an interview published by the Financial Times, GM CFO Paul Jacobson warned that global carmakers are treating the lucrative American market as a safe haven after facing heavy pressure from Chinese rivals in other regions.

The warning comes as foreign competitors gain ground in the country. Asian manufacturers are projected to secure a 50% share of vehicle sales in the United States in the third quarter. Over the same period, the combined market share for the Detroit Three automakers is expected to fall to 36%.

GM also faces domestic delivery pressure this year. Projections show the company's US vehicle sales volume reaching 2.01 million vehicles over the first nine months of the year, which represents a 6.2% decline compared to the same period last year.

To stay competitive and protect margins, Jacobson highlighted expected US climate policy volatility over the next 5 years. GM aims to introduce new battery technologies by 2028 to bring down electric vehicle production costs and navigate shifting market conditions.