Paul Jacobson

Well, I think if you look at what GM has done, we've saved a lot of money by rationalizing our inventory balances.

So we used to keep probably about 40% more inventory on the ground at our dealerships around the country.

And we've cut that down.

That frees up a lot of working capital to be able to invest and redeploy back into the business.

but it also makes sure that we can change much more quickly to changing demand around us.

So our pricing has been stabilized, and I think that's given us a little bit more comfort to invest a little bit more than what we have historically, but still making sure that we're very disciplined with our capital allocation because we still have opportunities to pay down debt and also return capital to shareholders.

So it's that balanced approach that I think has really paved the way for our success.

Well, I think I want to praise the administration for really listening to the concerns of the industry and making sure that they're helping us to be positioned to be really successful as one of the largest U.S.

industrial producers that are out there.

And the announcements that were made Friday essentially take what had already been done by the administration in the spring and expands it a little bit

to be able to use those MSRP offsets on a wider variety of parts that we're bringing into the country.

And as a result of that, we were able to lower our total tariff forecast for the year by about half a billion dollars from where we started the year.

And I think it's that proactive partnership in terms of really making sure that we can remain competitive and help to drive more investment into the U.S., which we've done.

Well, I think what we're looking for is a little bit of stability.

Obviously, this year has been a bit of a transition year.

You know, for us, the handshake deal that we have with Korea, we're really eager to get that finalized.

We do have some production of some of our lower cost models.

in Korea that help with some of the affordability concerns of our consumers here in the US.

But also obviously Mexico and Canada are going to be really important to us.

But as we look at those deals being finalized and we start to look into 2026, we think that there's actually an opportunity for us to do better in 2026 than we've done in 2025.