United Kingdom  

Celebrating 10 Years of Trusted News Discovery
One News Page
> > >

Pickups drive GM's profit beat

Video Credit: Reuters Studio - Duration: 00:57s - Published < > Embed
Pickups drive GM's profit beat

Pickups drive GM's profit beat

General Motors stuck to its upbeat earnings forecast, defying a global industry slowdown with strong sales of pickup trucks in North America.

Fred Katayama reports.

0
shares
ShareTweetSavePostSend
 

Pickups drive GM's profit beat

General Motors joined Fiat Chrysler in defying an industry slowdown, sticking to its upbeat earnings forecast for the full year.

Like its rival, GM was in the fast lane with strong sales of high-margin pickup trucks, especially those bearing its GMC nameplate.

Sport utilities like its Cadillac XT4 also did well.

Also like Fiat Chrysler , GM's growth in North America helped the largest U.S. automaker overcome its weak performance overseas.

Virtually all of the company's profit came from North America.

Its sales in China, the world's largest auto market, skidded 12%, and it warned sales there will remain weak for the rest of the year.

GM's quarterly profit rose slightly and zoomed past analysts' estimates.

That pushed its shares higher in early Thursday trading.

Automakers have been hit hard by the global sales slowdown.

GM rival Ford and Daimler, Aston Martin and Renault have ALL RECENTLY issued weak outlooks.




You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.