Small Trucks And SUVs In The US Has Boosted General Motors' Profits

Small Trucks And SUVs In The US Has Boosted General Motors' Profits

Strong demand for particularly profitable small trucks and SUVs in the US has boosted General Motors' profits. The net profit climbed in the third quarter surprisingly significantly to four billion dollars or 2.78 dollars per share, such as the largest US automaker announced. Last year, GM had made $ 2.35 billion, or $ 1.60 per share, at the time. Sales on the home market plummeted by ten percent due to the rampant corona pandemic, but recovered from month to month. In the world's largest car market in China, where car demand has recovered rapidly after the coronavirus outbreak, GM deliveries rose twelve percent for the first time in two years. GM chief Mary Barra said the automaker is well positioned to meet rising demand. The share then gained 6.4 percent in pre-market US trading. The car company announced that it would continue to invest in electric cars and self-driving vehicles. For the second half of the year, management announced a cash inflow of between seven and nine billion dollars.