Strong North American Performance Boosts GM Profits By 34% In First Quarter

General Motors today said its earnings jumped 34 percent in the first quarter, defying a slowdown in the U.S. market with stronger retail sales of SUVs and crossovers and growth at its financing arm.

GM’s net income of $2.6 billion was the most of any first quarter since its 2009 emergence from bankruptcy. It also set first-quarter records for revenue, pretax profit and profit margins, both globally and for North America.

The results, posted a day after Ford Motor Co. reported a 35 percent decline in its first-quarter profit, illustrate a growing divergence between the two largest Detroit automakers’ strategies and performance, as both companies struggle to generate enthusiasm on Wall Street.

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MDarringer - 4/28/2017 4:38:52 PM

+1 Boost

Having palmed the Opel crapstorm off onto the French idiots at PSA and with Marchionne signaling that Jeep and / or Ram are up for grabs, GM could possibly do an acquisition.

Jeep could easily be morphed into a Land Rover/Range Rover brand to be co-branded with Cadillac in bespoke dealers.

Ram could be offered as a stand-alone brand to dealers that do not have a full-sized pickup line to sell (VW, Mazda, Subaru, ...).