GM's SUV Revamp Padding Record Profit Through U.S. Slowdown
- Fourth-quarter earnings of $1.65 a share exceeds estimates
- New Equinox, Traverse boost results as Ford struggles
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Booming sales of new sport utility vehicles helped General Motors Co. set a profit record last year and is giving the automaker impetus to forecast steady earnings in 2018.
Even as sales at home slowed, GM posted adjusted profit of $1.65 a share for the fourth quarter, beating analysts’ average estimate for $1.38 a share. The company made up for shipping fewer vehicles to dealers by delivering pricier models and cutting costs.