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Bond Market News
GM Announces $6bn Write-down on EV Investments
January 9, 2026
General Motors (GM) announced that it will take a $6bn charge to unwind significant electric vehicle (EV) investments, reflecting a broader industry pullback. Reuters notes that the move is likely driven by shifting federal policies under the US administration and a sharp decline in consumer demand following the expiration of the $7,500 federal EV tax credit. Roughly $4.2bn of the write-down is a cash charge primarily related to contract cancellations and settlements with suppliers who had prepared for higher production volumes. Despite this financial retreat, GM stated it will maintain its current US lineup of approximately twelve EV models. This follows a similar announcement by Ford recently, that took a massive $19.5bn EV writedown. GM expects the charge to be recorded as a special item in its Q4 earnings.
GM’s bonds were trading slightly weaker with its 5.6% 2032s at 104.4, yielding 4.8%.
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