video Finance Videos
Profit surges at GM
Wednesday, February 03, 2016 - 01:17
Strong demand for pickups and sport utilities drove General Motors' quarterly profit sharply higher. Fred Katayama reports.
▲ Hide Transcript
▶ View Transcript
Strong demand for pickups and sport utilities produced a surge in GM's quarterly profit. Low gas prices drove demand for the beefier trucks in its lineup, and GM has a lot of that in its product mix. Chevy trucks and crossovers did particularly well in the U.S., and Cadillac gained momentum. The huge sales gains in North America offset the weakness in South America and Europe. GM sales rose sharply in the world's largest auto market, China, despite the slowdown in the economy. It regained its position as the top auto maker there, increasing its share of the market. Sales of cars and sport utilities produced by its budget Baojun brand nearly doubled in the quarter. GM notched a record profit in 2015, and is sticking with its outlook for solid profit growth this year. The CFO says he doesn't see any downturn for the industry in the next few years. Investors have worried that sales growth has peaked, selling off auto shares despite strong results. RBC Capital Markets analyst Joseph Spak said, "In our view, we are at a plateau, not a peak, and GM certainly has some company specific drivers that should allow North America margins to improve in 2016." GM stock, which has outperformed rivals Ford and Fiat Chrysler this year, rose in early trading.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
Profit surges at GM
Wednesday, February 03, 2016 - 01:17
Top News »
5:49pm EST - (1:50)
5:47pm EST - (2:15)
5:47pm EST - (1:19)
3:52pm EST - (1:28)
3:18pm EST - (0:21)
1:36pm EST - (2:16)
12:35pm EST - (1:51)
8:42am EST - (1:09)
1:59am EST - (0:59)
1:57am EST - (1:28)
Sun, Feb 17, 2019 - (1:17)
Sun, Feb 17, 2019 - (2:11)
Migrant Crisis »
Thu, Nov 15, 2018 - (2:23)
Thu, Nov 15, 2018 - (1:26)
Fri, Mar 16, 2018 - (0:50)
Fri, Dec 22, 2017 - (1:52)
Fri, Dec 22, 2017 - (1:07)
Fri, Dec 22, 2017 - (1:37)
Editors' Picks »
2:35am EST - (1:52)
Fri, Feb 15, 2019 - (1:55)
Thu, Feb 14, 2019 - (2:50)
Thu, Feb 14, 2019 - (2:00)
Thu, Feb 14, 2019 - (1:24)
Thu, Feb 14, 2019 - (1:58)
Thu, Feb 14, 2019 - (1:15)
Wed, Feb 13, 2019 - (1:40)
Wed, Feb 13, 2019 - (1:40)
Tue, Feb 12, 2019 - (1:48)
Politics »
5:47pm EST - (2:15)
5:47pm EST - (1:19)
3:52pm EST - (1:28)
3:18pm EST - (0:21)
1:36pm EST - (2:16)
Sun, Feb 17, 2019 - (1:22)
Fri, Feb 15, 2019 - (1:03)
Fri, Feb 15, 2019 - (1:45)
Fri, Feb 15, 2019 - (1:59)
Fri, Feb 15, 2019 - (0:59)
Innovations »
8:14am EST - (1:34)
Fri, Feb 15, 2019 - (1:20)
Fri, Feb 15, 2019 - (1:13)
Thu, Feb 14, 2019 - (1:23)
Thu, Feb 14, 2019 - (1:21)
Thu, Feb 14, 2019 - (1:57)
Thu, Feb 14, 2019 - (1:26)
Mon, Feb 11, 2019 - (1:32)
Fri, Feb 08, 2019 - (2:05)
Thu, Feb 07, 2019 - (1:38)
Entertainment »
3:19pm EST - (2:19)
1:58am EST - (1:50)
Sun, Feb 17, 2019 - (1:49)
Sun, Feb 17, 2019 - (2:23)
Sun, Feb 17, 2019 - (2:08)
Sun, Feb 17, 2019 - (2:09)
Sun, Feb 17, 2019 - (1:05)
Sun, Feb 17, 2019 - (1:02)
Sun, Feb 17, 2019 - (1:45)
Sat, Feb 16, 2019 - (0:45)
Sat, Feb 16, 2019 - (0:56)
Sat, Feb 16, 2019 - (1:12)
Rough Cuts »
3:52pm EST - (1:28)
3:18pm EST - (0:21)
Sun, Feb 17, 2019 - (2:23)
Sun, Feb 17, 2019 - (0:54)
Sun, Feb 17, 2019 - (1:22)
Sun, Feb 17, 2019 - (1:05)
Sun, Feb 17, 2019 - (1:02)
Sun, Feb 17, 2019 - (1:45)
Sat, Feb 16, 2019 - (1:32)
Sat, Feb 16, 2019 - (0:46)
Sat, Feb 16, 2019 - (0:56)
Moving Pictures »
Fri, Feb 01, 2019 - (2:27)
Wed, Jan 02, 2019 - (2:29)
Mon, Dec 17, 2018 - (2:17)
Fri, Nov 30, 2018 - (2:45)
Thu, Nov 22, 2018 - (2:41)
Mon, Oct 01, 2018 - (2:30)
Fri, Aug 31, 2018 - (2:23)
Tue, Jul 31, 2018 - (1:44)
Fri, Jun 29, 2018 - (2:05)
Fri, Jun 01, 2018 - (2:38)
Reuters Investigates »
Wed, Oct 11, 2017 - (10:18)
Wed, Aug 23, 2017 - (6:44)
Thu, Mar 16, 2017 - (2:26)
Tue, Nov 01, 2016 - (2:15)
Thu, Sep 29, 2016 - (2:19)
Fri, Aug 05, 2016 - (2:04)
Mon, Mar 28, 2016 - (3:02)
Thu, Mar 10, 2016 - (2:34)
Mon, Dec 07, 2015 - (2:58)
Mon, Dec 07, 2015 - (2:20)
Mon, Dec 07, 2015 - (0:35)
Mon, Dec 07, 2015 - (3:53)
Dateline Asia »
1:56am EST - (1:05)