General Motors overcomes US sales drop and China losses to post 3rd quarter profit of $3 billion ...Middle East

DETROIT (AP) — U.S. sales are down and a once-reliably profitable joint venture in China is losing money, but General Motors still managed to post a third quarter profit of $3 billion Tuesday, slightly less than it made a year ago. The Detroit automaker reported $48.8 billion in revenue from July through September, 10% more than last year, aided by U.S. average vehicle sale prices that were steady with last quarter at over $49,000. Chief Financial Officer Paul Jacobson said that while overall sales in the U.S., GM’s most profitable market, fell 2.2% in the quarter, much of that drop was from sales to large fleet buyers. Sales to individuals, which generally are more profitable, rose 3%. Whi

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Last updated : 22 October 2024 clock 01:48 PM

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General Motors overcomes US sales drop and China losses to post 3rd quarter profit of $3 billion ...Middle East

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