GM Earnings Tumble 11% to $1.2 Billion

General Motors Co. netted $1.2 billion in the first quarter of this year compared with $1.3 billion in the same period of 2012 as operating results eroded in every region except Europe.

Revenue dipped 2% to $36.9 billion in the January-March period because of a 3% decline in wholesale shipments and unfavorable exchange rates. But retail sales grew 4% to 2.36 million units.

GM also reported quarterly results by region:

NORTH AMERICA: Adjusted EBIT dropped 14% to $1.4 billion.

Revenue edged down 1% to $23 billion. Wholesale shipments slipped to 829,000 vehicles, but retail sales climbed 8% to 762,000 units.

INTERNATIONAL: In Asia Pacific, Africa and the Middle East, adjusted EBIT slid 5% to $495 million. Revenue shrank 4% to $4.8 billion. Retail sales rose 7% to 992,000 vehicles, buoyed by record sales of 816,400 units in China.

EUROPE: GM narrowed its loss to $175 million from $294 million a year earlier. Revenue fell 8% to $4.8 billion. Retail deliveries declined 6% to 373,000 vehicles.

SOUTH AMERICA: South American operations swung to a $38 million quarterly loss from a $153 million profit. Revenue contracted 5% to $3.7 billion. Deliveries to customers dropped 6% to 234,000 vehicles.