CARMAX auto finance provider BMW shares fell 1.3% on Tuesday, hitting a new record low after the automaker announced a $5 billion cash dividend and said it would increase the size of its share buyback program.
Shares of BMW were down 1.6% in premarket trade.
Shares of GM were down 0.4%.
GM has struggled in recent months after the company announced it was buying out its former auto sales business.
It said it planned to cut 10% of its U.S. workforce by 2020.