GM’s third quarter results are in, and the report may not be as positive as some would have liked. The company did post a profit of $1.7 billion dollars, but that is a 15% decrease from Q3 2010. This is mostly due to the $36.7 billion in total sales revenue, up 7.6% from the $34.1 billion observed a year earlier.
GM North America lead the charge, posting an EBIT-adjusted profit of $2.2 billion, an improvement of $0.1 billion compared with the third quarter of 2010. Secondly, GM International Operations (GMIO) reported a profit of $0.4 billion, slightly lower by $0.1 billion compared to the third quarter of 2010. GM South America posted break-even status, while GM Europe once again struggled with a loss of $0.3 billion, though that number is better by exactly $0.3 billion compared with the third quarter of 2010.
For more info, open the press release below. For related coverage, we invite you to look at any of the articles listed below as well.