Mexican Media Brands
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.
#economics
Share
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).
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data