Summary Box: GM posts $3.2B 1Q profit

AP News
Posted: May 05, 2011 5:04 PM

HIGHER PROFITS: General Motors Co. reported net income of $3.2 billion in the first quarter, more than triple what it made in the first quarter of last year. It was the best quarter for the company in at least a decade.

WHAT DROVE THEM: New, fuel-efficient products like the Chevrolet Cruze compact and Equinox crossover helped push up GM's revenue and profit. But it also had a $1.6 billion gain from selling a stake in Delphi Automotive LLC, its former parts division. Without one-time gains, GM still made a healthy $1.7 billion.

TROUBLE AHEAD: GM stock closed down $1.02, or 3.1 percent, at $32.02 on Thursday. Analysts worried about how the company will make up for profits lost as people shift from higher-margin pickups and SUVs to smaller vehicles.

  • Tags:
  • GM