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GM’s Profit Climbs 44%
General Motors Co.'s operating income soared to $2.3 billion (€1.7 billion) in the July-September period from $1.6 billion (€1.2 billion) a year earlier.
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General Motors Co.'s operating income soared to $2.3 billion (€1.7 billion) in the July-September period from $1.6 billion (€1.2 billion) a year earlier. Revenue grew 4% to $39 billion (€28.4 billion).
The company cut its pretax loss in Europe 56% to $214 million (€156 million), where unit sales advanced 4% to 388,000 vehicles.
Earnings before interest and taxes for the rest of GM's international operations plunged 70% to $299 million (€218 million) in the third quarter. The company says profits in China were offset by unfavorable exchange rates and recall expenses in India.
In North America, GM's vehicle sales rose nearly 7% to 808,000 units, and EBIT jumped 28% to $2.2 billion (€1.6 billion). In South America, sales fell 4% to 273,000 units, but EBIT surged 79% to $284 million (€207 million).
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