General Motors surprised investors this morning by posting a much higher second quarter profit than was predicted yesterday. GM’s net profit of $891 million compares very favorably to its $3.4 billion loss in the same quarter last year.
Analysts say that GM’s cost cutting and strong overseas sales resulted in profit-making. General Motors has seen considerable growth in emerging markets, including China and Eastern Europe.
GM’s North American markets did lose money, but the losses were down considerably from a year before. GM lost $39 million in the second quarter of 2007, down from $3.95 billion during the same time period the year before.
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07/31, 8:40 AM
posted by:
CTS DRIVER
good job gm, now make better cars.
here is a preemptive go to hell to the flamers.
07/31, 8:54 AM
posted by:
CarLord
Flame on
07/31, 9:26 AM
posted by:
purdue
God Bless GM
07/31, 10:08 AM
posted by:
1c3d0g
Awesome. Very good job GM. Now don’t mess it up!
07/31, 10:25 AM
posted by:
400horseSS
to all the GM haters do say we told you so but ………….
07/31, 10:41 AM
posted by:
Z06ified
No comment from homeboy yet? Cat got his tongue?
07/31, 10:46 AM
posted by:
55amg
not something we hear everyday
07/31, 11:17 AM
posted by:
Bryce
It’s coming around.
07/31, 12:25 PM
posted by:
Htay5500
and around…
07/31, 12:34 PM
posted by:
jackjimturkey
The General has just begun.
Now, when they stop pussyfooting around in their advertising, the profits will be better, and less surprising.
07/31, 1:02 PM
posted by:
Scarface03
The G8, Solstice coupe, strong crossover SUV platform, Opel-badged Saturns, cutting costs, getting a foothold in emerging markets…. Will I jinx things by saying that I think this trend for GM will continue.
07/31, 1:22 PM
posted by:
CTS DRIVER
its hard to tell without gm#1forever and 1948gmsales here to tell us what to think.
07/31, 2:47 PM
posted by:
AMGoff
fanxxxxingtastic! I’m sure there are still some people on here who think the General is dying a slow painful death. The company will never hold the market dominance it once held but it sure as hell isn’t going anywhere any time soon.
07/31, 3:26 PM
posted by:
musclemustang94
I am so happy! Even though I am a ford guy its not about ford vs. chevy anymore. Its Domestic vs. Import now. I am glad to see Ford and GM are starting to make a comeback. Long live the BIG3
07/31, 7:04 PM
posted by:
jackjimturkey
Mustang:
I don’t care about imports.
As long as people believe imports are better (even though they almost never are) the pressure will be on the big 3 to make quality products.
07/31, 8:32 PM
posted by:
okano
are all above comments are the 1:50 of those GM lovers?
07/31, 10:03 PM
posted by:
Deanster
I guess someone knocked some sense into Lutz finally.
08/01, 12:05 AM
posted by:
Rompn4x
People sayingthat imports are better is helping GM…Keeps the pressure on to build better cars. I think Toyota has crested the hill…
08/01, 12:19 PM
posted by:
nitinsharma1000
i think 1487_GM_SALES doesent know abt it.
08/02, 5:46 AM
posted by:
55amg
yes he does..GM made profit so now they can hire GM_sales
08/04, 8:11 PM
posted by:
///m
make better cars and make the corvette nicer, blow everyone away, i didnt like corvettes until the C6, i’m interested to see whats next, and for god sakes dont f#$K up the camaro, transformers was incredible