High-margin pickup trucks drive GM profit
- news digest
Feb 8, 2019-
General Motors Co on Wednesday reported a quarterly profit that exceeded Wall Street expectations, thanks to high-margin pickup trucks and small SUVs in the US market and cost cutting. All of the No. 1 US automaker’s profit came from North America, where those lucrative models helped overcome an overall drop in the number of vehicles it sold. The company’s operations in China and South America combined added nothing to the company’s bottom line in the quarter. Shares rose 1.4 percent. The stronger-than-expected fourth-quarter profit, driven by strong US results, stood in contrast to the job cuts GM has begun to make in its salaried and hourly workforces.
Published: 08-02-2019 13:36