DETROIT (AP) — Despite a small dip in U.S. vehicle sales, General Motors’ first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles.
The automaker said that while its average sales price per vehicle was down slightly from last year at just under $50,000, pickup sales remained strong, and it’s not seeing the price erosion across its lineup that other companies have experienced.
GM on Tuesday said it made $2.97 billion from January through March, with revenue increasing 7.6% over the same period a year ago to just over $43 billion. That topped the $41.15 billion that analysts polled by FactSet were calling for.
Excluding one-time items the company made $2.62 per share, easily beating Wall Street estimates of $2.13 per share.
Dan Ives of Wedbush said in a note to clients that GM delivered a solid performance as it concentrates on profitability and managing expenses.
Dodgers manager Dave Roberts working with Shohei Ohtani on strike zone discipline
Fresh Cut Flowers in Northwest China Provided for Market at Home and Abroad
China's Tibet Beefs up Free HPV Vaccination for Teenage Girls
Chinese Astronauts Give Lecture from Space Station
Taylor Swift's former boyfriends have ended up marrying Swifties
China Plans to Expand National Park System
Pharmaceutical Companies in China Work at Full Capacity Increase Medicine Supply
Across China: Central China City Encourages Children Participation in Community Management
As airplane makers struggle to meet demand, Morocco wants to become a manufacturing hub
Fresh Cut Flowers in Northwest China Provided for Market at Home and Abroad
Man City vs Man United FA Cup final time confirmed
China Stresses Protection of Vulnerable Children As Winter Break Nears