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GM Surges After Surprise Forecast for Annual Profit Gain

  • Shares surge up to 8.9% as upbeat view contrasts with peers
  • New pickups and SUVs to help overcome flat U.S., China demand
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Mary Barra, General Motors CEO, discusses the automaker’s projections for 2019. Daybreak: Americas." (Source: Bloomberg)
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Forget about doom and gloom: General Motors Co. defied expectations it would be downbeat about earnings this year, fueling a rebound for its battered shares.

GM’s forecast that profit could flirt with record levels in 2019 flouted predictions that industry sales in China and the U.S. will slump this year. The company sees demand in both markets holding up and earnings improving as it cuts costs and rolls out revamped pickups and new SUVs.