GM Reports Smallest Profit in a Year on New-Vehicle Costs

February 24th, 2011
in News

GM cars BloombergGeneral Motors Co., the largest U.S. automaker, reported fourth-quarter net income of $510 million, completing its most profitable year since 1999 as vehicle sales increased in North America.

Net income was 31 cents a share, Detroit-based GM said today in a statement. Excluding a charge related to a purchase of preferred shares from the U.S. Treasury Department, profit was 52 cents a share. The average estimate of 13 analysts surveyed by Bloomberg was for profit of 44 cents. Sales rose to $36.9 billion, topping the $34.6 billion average estimate.

Follow up:

 Chief Executive Officer Dan Akerson is hastening the development and introduction of new models as GM revamps a lineup that is older than that of rivals such as Ford Motor Co. GM added U.S. market share in the quarter, helping it earn $5.75 billion in 2010 before interest and taxes in North America.

Read more at Bloomberg.....

Submitted by Doug Short















Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.












 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved