General Motors sees sustained profits through 2018

DETROIT, MI-JANUARY 13: The new 2019 Chevrolet Silverado 1500 makes its official debut at the 2018 North American International Auto Show January 13, 2018 in Detroit, Michigan. More than 5,100 journalists from 61 countries attend the NAIAS each year. The show opens to the public January 20th and ends January 28th. (Bill Pugliano/Getty Images)

NEW YORK (AP) — General Motors expects strong sales in North America and China to sustain its profit through 2018.

The automaker on Tuesday reaffirmed its 2017 expectations for profit between $6 and $6.50 per share and said it expects similar results in 2018. The company also cited cost cutting and growth in other units, including GM Financial, as factors in maintaining profit.

In 2017, GM sold its Opel/Vauxhall and GM Financial European units and cut business in parts of Africa and India. It also reported strong pickup truck sales in the U.S.

Overall, U.S. auto sales fell 2 percent industrywide in 2017, according to Autodata Corp., ending an unprecedented seven-year expansion. Still, 2017 marked the fourth-best sales year in U.S. history, after 2000, 2015 and 2016, according to Kelley Blue Book.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s