GM’s Profits Double to $1.4 Billion in Q3
DETROIT – General Motors announced Thursday net profit of $1.4 billion in the third quarter, compared to earnings of $0.7 billion in the third quarter of 2013, reported MLive. The 100 percent year-over-year improvement comes despite incurring a loss of $0.3 billion in the period, stemming in part from flood damage at the GM Technical ... Read More »
DETROIT – General Motors announced Thursday net profit of $1.4 billion in the third quarter, compared to earnings of $0.7 billion in the third quarter of 2013, reported MLive.
The 100 percent year-over-year improvement comes despite incurring a loss of $0.3 billion in the period, stemming in part from flood damage at the GM Technical Center in Warren, the Detroit automaker said.
Net revenue in the quarter was $39.3 billion, compared with
$39.0 billion in the same period of 2013.
For the first nine months of the year, the company’s revenue grew to $116.3 billion, against $114.9 billion in the first nine months of 2013.
“Strong global sales and growing margins in North America and China helped GM deliver very solid third quarter results,” GM CEO Mary Barra said in a statement. “Despite industry challenges in Russia and South America, our earnings were on plan as we continue to execute our customer-focused strategy.”
More Industry
Selling to Grow
The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.
Read More →
Auto Group Acquires Top-Performing Rooftop
Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.
Read More →
China as Pacesetter
Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.
Read More →
BMW Concept Car Makes Fuel to Burn
The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.
Read More →
South Carolina Auto Group Downsizes
Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Structure Leads to Optimized Auto Listings
As the average car-buying journey has shifted to a blend of digital and retail, a dealership’s vehicle listings must be optimized to answer shoppers’ questions clearly and accurately.
Read More →
Consumers Mixed on Economy, Finances
A July survey shows spotty sentiment of current and future conditions, in addition to demographic differences as overall opinion of present circumstances kept sliding.
Read More →
EVs Closing the European Gap
Electrified powertrains led June new-vehicle sales in Europe, reaching 26% of the market.
Read More →
Early Intervention Saves Retention
Sales and service departments have the highest annual dealership turnover rates, according to a new industry report, costing money and time that could be better spent elsewhere.
Read More →