News Column

GM Earnings Rise in 2nd Quarter

July 25, 2013
General Motors headquarters
General Motors headquarters

US-based carmaker General Motors on Thursday posted higher operational earnings for the second quarter and noted that it had managed to staunch its losses in the troubled European market.

It said adjusted earnings before interest and tax (EBIT) were 2.3 billion dollars. In the second quarter of 2012, the comparable earnings had been 2.1 billion dollars.

In Europe, where GM makes Opel and Vauxhall cars, the adjusted EBIT was a loss of 110 million dollars, sharply lower than the 394 million dollars lost one year before.

"We continue to perform well in the world's two most important markets, the US and China," said chief executive Dan Akerson in a statement. "We also made further progress in our European business."

Global revenues at the group rose 4 per cent to 39.1 billion dollars in the quarter.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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