GM’s financial adviser, Evercore Partners released projections saying that it expects the bankrupt automaker to return to annual profits by 2011. It estimates that the stock in the ‘New GM’ will be worth anywhere from $38 billion to $48 billion.
It estimates that the ‘New GM’ will hope to rebound its U.S. vehicle sales to about 16 million a year by 2012 to push it back into profitability while increasing output from the current 3.8 million vehicles worldwide to 6 million by 2014.
Until than, Evercore Partners forecasts that GM will lose $17.5 billion this year before hitting a profit of $3 billion by 2011 before taxes. It estimates profitability rising to ...
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