GM News: GM Q1 profits surge as European losses shrink

[Cmicasa the Great]

DETROIT -- General Motors' first-quarter pretax profit surged 28 percent -- even while its global sales slipped -- as the company aggressively cut costs in troubled regions and sold pricier vehicles across its key markets.

 

GM said today its pretax operating income -- the figure the company considers most reflective of its underlying performance -- rose 28 percent, to $2.66 billion. That amounted to a pretax profit of $1.26 a share, hurdling the $1-a-share average forecast of analysts, compiled by Reuters.

 

The improved results were broad-based: Each of GM’s four operating regions posted a stronger bottom line, even as economic headwinds made it tougher to do business in several markets globally. That was especially true in South America, where GM shored up its losses to $67 million, from $214 million a year earlier, despite a 26 percent slide in sales there.

 

GM narrowly missed breaking even in Europe, posting a $6 million pretax loss, vs. a $239 million loss in the same period a year earlier. The company has long targeted 2016 as the year it finally stanches the flow of red ink there.

 

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[Cmicasa the Great]

Awesome job. Keep on track and see profits rise as new cars start pumping in over incentive driven sell-offs like the SRX and Cruze Limited. The new XT5, CT6, and Cruze should push profits and sales north.

[G. David Felt]

Awesome Job GM, Keep the focus and drive. I would love to see this finally flip to break even or profit for all operating regions at the end of Q2.

[El Kabong]

Excellence of execution reaps profits. Good job by Mary Barra's crew.

On a sadder note, RIP Prince. I know Casa's a huge fan.

[Cmicasa the Great]

Excellence of execution reaps profits. Good job by Mary Barra's crew.

On a sadder note, RIP Prince. I know Casa's a huge fan.

 

 

Excellent job by the entire company.. and Thanks El... Prince will be missed. With the current decline of music, perhaps more than we realize

[smk4565]

Gas is cheap, crossover sales are up, crossovers = profits.  Good job on capitalizing on that by GM.  Although I think they could have another crossover at Chevy and they haven't got the Envision on sale yet, and Cadillac needs a couple more.  So if they can fill out the crossover line, they should be able to keep this up.