GM Profit Rises to $1.54 Billion on Auto Sales Gains
This article is for subscribers only.
General Motors Co., 61 percent owned by the U.S. government, reported second-quarter net income of $1.54 billion on increased vehicle sales and production as the Detroit automaker prepares for an initial public offering.
Profit rose 44 percent from $1.07 billion in the first three months of the year. Revenue increased 44 percent from a year ago to $33.2 billion on growing sales of the Buick Excelle in China and Chevrolet Equinox in the U.S., the company said today in a statement. Operations in Europe will continue to improve, the company said.