Automakers take a hit from tariffs, but some still see strong earnings

Chevrolet Equinox EVs are shown for sale at a Chevrolet dealership in Southfield, Mich., on Oct. 29. General Motors announced stronger-than-expected quarterly earnings this month, but also announced it will be laying off 3,300 hourly employees around the country at plants that make electric vehicles and batteries.

Automakers have been paying billions of dollars in tariffs on imported cars, parts and materials. But on earnings calls this month, some carmakers reported that they're performing well anyway.

(Image credit: Bill Pugliano)