Jump to content
  • Welcome Guest!

    Founded in 2001, CheersandGears.com is one of the oldest continuously running automotive enthusiast communities on the net. 

    Sign up is free and easy, come join the fun!

  • Cmicasa the Great
    Cmicasa the Great

    GM Q1 profits surge as European losses shrink

    DETROIT -- General Motors' first-quarter pretax profit surged 28 percent -- even while its global sales slipped -- as the company aggressively cut costs in troubled regions and sold pricier vehicles across its key markets.


    GM said today its pretax operating income -- the figure the company considers most reflective of its underlying performance -- rose 28 percent, to $2.66 billion. That amounted to a pretax profit of $1.26 a share, hurdling the $1-a-share average forecast of analysts, compiled by Reuters.


    The improved results were broad-based: Each of GM’s four operating regions posted a stronger bottom line, even as economic headwinds made it tougher to do business in several markets globally. That was especially true in South America, where GM shored up its losses to $67 million, from $214 million a year earlier, despite a 26 percent slide in sales there.


    GM narrowly missed breaking even in Europe, posting a $6 million pretax loss, vs. a $239 million loss in the same period a year earlier. The company has long targeted 2016 as the year it finally stanches the flow of red ink there.



    Sign in to follow this  
    Sign in to follow this  

    User Feedback

    Excellence of execution reaps profits. Good job by Mary Barra's crew.

    On a sadder note, RIP Prince. I know Casa's a huge fan.



    Excellent job by the entire company.. and Thanks El... Prince will be missed. With the current decline of music, perhaps more than we realize

    • Upvote 3

    Share this comment

    Link to comment
    Share on other sites

    Gas is cheap, crossover sales are up, crossovers = profits.  Good job on capitalizing on that by GM.  Although I think they could have another crossover at Chevy and they haven't got the Envision on sale yet, and Cadillac needs a couple more.  So if they can fill out the crossover line, they should be able to keep this up.

    Share this comment

    Link to comment
    Share on other sites

    Your content will need to be approved by a moderator

    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoticons maximum are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

About us

CheersandGears.com - Founded 2001

We  Cars

Get in touch

Follow us

Recent tweets