DETROIT (AP) — Despite a small dip in U.S. vehicle sales, General Motors’ first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles. The automaker said that while its average sales price per vehicle was down slightly from last year at just under $50,000, pickup sales remained strong, and it’s not seeing the price erosion across its lineup that other companies have experienced. GM on Tuesday said it made $2.97 billion from January through March, with revenue increasing 7.6% over the same period a year ago to just over $43 billion. That topped the $41.15 billion that analysts polled by FactSet were calling for. Excluding one-time items the company made $2.62 per share, easily beating Wall Street estimates of $2.13 per share. Dan Ives of Wedbush said in a note to clients that GM delivered a solid performance as it concentrates on profitability and managing expenses. |
Commentary: Provocations by the Philippines in South China Sea unwise, futileChinese state councilor meets Thai Princess SirindhornBazaar train boosts incomes for residents in Xinjiang, NW ChinaChina's top court vows better judicial protection of consumer rightsEast China's Suzhou to hold cultural event in SingaporeCommentary: 2024 ushers in vibrant Chinese economyMaldives to allow settling import payments using Chinese currencyFreeze chicken, remove skin: Expert's top tips for avoiding deadly campylobacter2025 Asian Winter Games to highlight environmental protection, technologyCommentary: 2024 ushers in vibrant Chinese economy