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Follow on Google News | Michigan GMC Dealers Hear Profits on the Rise; GM Reports $4.7 Billion Revenue Increase AlreadyGeneral Motors began the year off with profits in the U.S. as well as other global markets. Michigan GMC dealers are excited to see how far General Motors can go this year.
By: Porta Press With all of General Motors’ markets, foreign and domestic, the company saw total revenue of $36.2 billion for the first quarter, which was up $4.7 billion from the same time last year. Final numbers for GM show a positive first quarter earnings of $3.2 billion in total. “We are on plan,” said Dan Akerson, Chairman and CEO, in a GM press release. “GM has delivered five consecutive profitable quarters, thanks to strong customer demand for our new fuel-efficient vehicles and a competitive cost structure that allows us to leverage our strong brands around the world and focus on driving profitable automotive growth.” In North America alone, General Motors reported its earnings before interest and taxes (EBIT) of $2.9 billion, which is more than double from last year’s first quarter result of $1.2 billion. April of 2011 saw a 27 percent increase over the previous April with the strongest month recorded for sales of the Chevrolet Cruze. Other vehicles that contributed to the positive month were the Chevrolet Equinox while Michigan GMC dealers saw an increase in the GMC Terrain crossover SUV. “April was a month we saw consumers rethink their transportation needs,” said Don Johnson, Vice President of U.S. Sales Operations, in a conference call made with reporters on May 5. Other Markets and Sales Numbers China Increased 10 percent in units sold (685,583 units total) Europe South America is on the edge of tremendous growth. The entire region will see 40 new GM products in 2011 and 2012. However, for now, General Motors saw a decrease of $0.2 billion for the quarter. Michigan GMC dealers may be excited to see the profits stay positive for General Motors as the year continues. With new vehicles and a new plan to replenish and move the company forward, General Motors is still on its way to being the No. 1 world’s largest automaker. MI Auto Times covers all Michigan automotive news all the time, featuring newly released vehicle recall information, relevant Michigan automaker news, vehicle ratings and comparisons, and everything else auto-related Michigan and world readers need to know. Got a hot tip? Send your news tips to news@miautotimes.com or connect with us on Facebook: www.facebook.com/ [Source(s): Detroit Auto Scene, GM Media] End
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