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.
Lottie Moss sends temperatures soaring in red semi
Kelly Clarkson, 41, rocks a little black dress highlighting her 40
Haleigh Bryant helps LSU gymnastics advance to team finals at NCAA women’s championship
Group condemns 'humiliating searches' by security at Barcelona stadium
Unai Emery agrees Aston Villa contract extension until 2027
Lions are not looking for a starter in the NFL draft for a change, coming off successful season
Defending champion Lilia Vu withdraws from Chevron Championship with back injury before 1st round
Katie Price reveals her plans to REDUCE her surgically enhanced assets
Original Karma singer Brit Smith says JoJo Siwa 'has done nothing wrong' after re
Alex Jones shares health update after her son Kit, four, was hospitalised to undergo surgery
Former Green Bay player Kayla Karius leaves South Dakota to return to her alma mater as coach
Maryland teen charged with planning school shooting after police review writings, internet searches