GM posts $1.3bn profit
Vehicle has recorded a $1.3 billion (￡835 million) profit within the second quarter of 2010.
It’s the second successive quarter of profitability at GM its first-quarter profits were $865m (￡555m).
Find out more on GM’s first quarter profits
GM’s United States division published a $1.6bn (￡1.03bn) profit within the quarter before taxes and interest – a $400m (￡250m) increase within the previous quarter – while pre-tax and interest losses were reduced in GM’s European division from $300m (￡190m) to $200m (￡130m) within the second quarter.
GM’s Worldwide Operations recorded a before taxes and interest profit of $700m (￡450m), lower in the $1.2bn (￡770m) profit in the last quarter.
Chris Liddell, GM’s vice chairman and chief financial officer, stated, “I am happy with our progress on achieving our business objectives. We’ve delivered strong product, maintained cost discipline, progressed proper initiatives, for example restructuring Europe and obtaining AmeriCredit, and delivered two consecutive quarters of profitability and positive income.Inches