| Revenue |
Revenue The following table disaggregates our revenue by major source: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2026 | | GMNA | | GMI | | Corporate | | Total Automotive | | | | GM Financial | | Eliminations/Reclassifications | | Total | | Vehicle, parts, and accessories | $ | 39,619 | | | $ | 3,791 | | | $ | 139 | | | $ | 43,549 | | | | | $ | — | | | $ | — | | | $ | 43,549 | | | Used vehicles | 585 | | | 12 | | | — | | | 597 | | | | | — | | | — | | | 597 | | | Services and other | 1,215 | | | 282 | | | 62 | | | 1,559 | | | | | — | | | — | | | 1,559 | | | Automotive net sales and revenue | 41,419 | | | 4,085 | | | 201 | | | 45,706 | | | | | — | | | — | | | 45,706 | | | Leased vehicle income | — | | | — | | | — | | | — | | | | | 1,939 | | | — | | | 1,939 | | | Finance charge income | — | | | — | | | — | | | — | | | | | 2,062 | | | — | | | 2,062 | | | Other income | — | | | — | | | — | | | — | | | | | 311 | | | (3) | | | 308 | | | GM Financial net sales and revenue | — | | | — | | | — | | | — | | | | | 4,312 | | | (3) | | | 4,309 | | | Net sales and revenue | $ | 41,419 | | | $ | 4,085 | | | $ | 201 | | | $ | 45,706 | | | | | $ | 4,312 | | | $ | (3) | | | $ | 50,015 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2025 | | GMNA | | GMI | | Corporate | | Total Automotive | | Cruise | | GM Financial | | Eliminations/Reclassifications | | Total | | Vehicle, parts, and accessories | $ | 38,752 | | | $ | 3,355 | | | $ | 52 | | | $ | 42,159 | | | $ | — | | | $ | — | | | $ | — | | | $ | 42,159 | | | Used vehicles | 453 | | | 8 | | | — | | | 461 | | | — | | | — | | | — | | | 461 | | | Services and other | 1,347 | | | 282 | | | 8 | | | 1,637 | | | — | | | — | | | — | | | 1,637 | | | Automotive net sales and revenue | 40,551 | | | 3,645 | | | 60 | | | 44,256 | | | — | | | — | | | — | | | 44,256 | | | Leased vehicle income | — | | | — | | | — | | | — | | | — | | | 1,968 | | | — | | | 1,968 | | | Finance charge income | — | | | — | | | — | | | — | | | — | | | 2,060 | | | — | | | 2,060 | | | Other income | — | | | — | | | — | | | — | | | — | | | 309 | | | (2) | | | 308 | | | GM Financial net sales and revenue | — | | | — | | | — | | | — | | | — | | | 4,337 | | | (2) | | | 4,335 | | | Net sales and revenue | $ | 40,551 | | | $ | 3,645 | | | $ | 60 | | | $ | 44,256 | | | $ | — | | | $ | 4,337 | | | $ | (2) | | | $ | 48,591 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2026 | | GMNA | | GMI | | Corporate | | Total Automotive | | | | GM Financial | | Eliminations/Reclassifications | | Total | | Vehicle, parts, and accessories | $ | 112,482 | | | $ | 9,758 | | | $ | 331 | | | $ | 122,571 | | | | | $ | — | | | $ | — | | | $ | 122,571 | | | Used vehicles | 1,622 | | | 32 | | | — | | | 1,654 | | | | | — | | | — | | | 1,654 | | | Services and other | 3,627 | | | 845 | | | 119 | | | 4,591 | | | | | — | | | — | | | 4,591 | | | Automotive net sales and revenue | 117,732 | | | 10,635 | | | 450 | | | 128,817 | | | | | — | | | — | | | 128,817 | | | Leased vehicle income | — | | | — | | | — | | | — | | | | | 5,893 | | | — | | | 5,893 | | | Finance charge income | — | | | — | | | — | | | — | | | | | 6,034 | | | — | | | 6,034 | | | Other income | — | | | — | | | — | | | — | | | | | 928 | | | (7) | | | 921 | | | GM Financial net sales and revenue | — | | | — | | | — | | | — | | | | | 12,855 | | | (7) | | | 12,848 | | | Net sales and revenue | $ | 117,732 | | | $ | 10,635 | | | $ | 450 | | | $ | 128,817 | | | | | $ | 12,855 | | | $ | (7) | | | $ | 141,665 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2025 | | GMNA | | GMI | | Corporate | | Total Automotive | | Cruise | | GM Financial | | Eliminations/Reclassifications | | Total | | Vehicle, parts, and accessories | $ | 112,770 | | | $ | 8,554 | | | $ | 100 | | | $ | 121,424 | | | $ | — | | | $ | — | | | $ | — | | | $ | 121,424 | | | Used vehicles | 1,284 | | | 25 | | | — | | | 1,309 | | | — | | | — | | | — | | | 1,309 | | | Services and other | 3,370 | | | 819 | | | 63 | | | 4,252 | | | 1 | | | — | | | — | | | 4,253 | | | Automotive net sales and revenue | 117,424 | | | 9,398 | | | 163 | | | 126,985 | | | 1 | | | — | | | — | | | 126,986 | | | Leased vehicle income | — | | | — | | | — | | | — | | | — | | | 5,810 | | | — | | | 5,810 | | | Finance charge income | — | | | — | | | — | | | — | | | — | | | 6,132 | | | (4) | | | 6,129 | | | Other income | — | | | — | | | — | | | — | | | — | | | 813 | | | (5) | | | 808 | | | GM Financial net sales and revenue | — | | | — | | | — | | | — | | | — | | | 12,756 | | | (9) | | | 12,747 | | | Net sales and revenue | $ | 117,424 | | | $ | 9,398 | | | $ | 163 | | | $ | 126,985 | | | $ | 1 | | | $ | 12,756 | | | $ | (9) | | | $ | 139,732 | |
Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Adjustments to sales incentives for previously recognized sales were insignificant in the three months ended September 30, 2026 and 2025.
Contract liabilities in our Automotive operations primarily consist of vehicle connectivity, customer rewards programs, maintenance, extended warranty, and other contracts of $9.6 billion and $8.2 billion at September 30, 2026 and December 31, 2025, which are included in Accrued liabilities and Other liabilities. We recognized revenue of $673 million and $2.2 billion related to contract liabilities in the three and nine months ended September 30, 2026 and $786 million and $2.0 billion in the three and nine months ended September 30, 2025. We expect to recognize revenue of $856 million in the three months ending December 31, 2026 and $2.4 billion, $1.7 billion, and $4.7 billion in the years ending December 31, 2027, 2028, and thereafter related to contract liabilities at September 30, 2026.
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