Cars
GM Truck Changeover Makes Barra's Profit Target a Tougher Sell
- Pickup factory downtime dented earnings in the first quarter
- North American margin slumped to lowest in almost four years
General Motors Co.’s costly truck changeover is making Chief Executive Officer Mary Barra’s promise of steady earnings a tougher sell with investors.
Pausing output of Chevrolet Silverado and GMC Sierra and retooling their plants to build updated versions of the lucrative pickups dragged on profitability in GM’s most important market last quarter. The automaker posted an 8 percent profit margin in North America, its worst showing in almost four years.