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GM Beats Estimates as Earnings Rise 34%

Pickups, SUVs and CUVs deliver.

by on Apr.28, 2017

Keep on trucking: General Motors' light trucks helped the maker drive a big surge in earnings.

General Motors’ fleet of big pickups and SUVs helped the automaker overcome all obstacles for the first quarter of 2017, earnings rising 34% to handily top Wall Street’s expectations and set a new quarterly record.

With a net income of $2.6 billion, GM was the last of the three Detroit-based automakers to report 1Q earnings and one of two to outperform market forecasts. Only Ford, which was off by 35%, posted a year-over-year decline – though it also benefited from booming demand for high-profit light trucks.

By the Numbers!

“We are executing our plan and it’s delivering results,” Chief Financial Officer Chuck Stevens said during a Friday morning news conference at General Motors headquarters. “This sets us up for another strong year.”

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