GM says Iran war raises costs but buyers still pay $52K average for vehicles in Q1

General Motors CEO Mary Barra stated that despite rising costs from the Iran war, including higher energy and logistics expenses, consumer demand for higher-priced vehicles remains strong with an average transaction price of $52,000 in Q1, matching last year's level. GM reported a 9.7% sales decline in Q1 and is managing tighter inventories, especially for full-size pickups, due to retooling. The company is offsetting increased costs through efficiency improvements and reduced spending, while closely monitoring any shifts in consumer preferences toward cheaper or electric vehicles. GM also noted supply chain resilience and no current concerns about raw material shortages related to the conflict.