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Operating Profits Surge for GM
General Motors Co. posted an operating profit of $2.3 billion in the third quarter of 2013 compared with $1.6 billion a year earlier.
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General Motors Co. posted an operating profit of $2.3 billion in the third quarter of 2013 compared with $1.6 billion a year earlier. Revenue advanced 4% to $39 billion.
The company's international operations—primarily its Asian business—plummeted 70% to $299 million, as profits in China were offset by recall expenses in India and unfavorable exchange rates.
GM slashed its quarterly pretax loss in Europe to $214 million from $487 million and increased unit sales 4% to 388,000 vehicles.
In North America, the company's vehicle sales rose nearly 7% to 808,000 units, and EBIT jumped 28% to $2.2 billion. In South America, sales fell 4% to 273,000 units, but EBIT surged 79% to $284 million.
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