The 2014 Chevy Silverado Is Driving Big Profits for GM
Nov 2nd 2013 8:37AM
Updated Nov 2nd 2013 8:38AM
General Motors reported a strong profit on Wednesday on profitability gains in North America and ongoing improvements in Europe. Excluding some one-time items, GM's pre-tax profit was $2.6 million, ahead of Wall Street estimates and ahead of many expectations for the still-recovering Detroit giant.
A big part of that success came from GM's home region of North America. GM reported a pre-tax profit of $2.2 billion for the third quarter here in North America -- a big increase from the $1.7 billion it earned here a year ago.
The key difference between then and now? GM's new products are earning fatter profits, and none of those have been more important than its all-new Chevy Silverado and GMC Sierra pickups.
In fact, as Motley Fool contributor John Rosevear explains in this short video, those new pickups have already put GM close to a profit goal that Wall Street wasn't expecting the company to meet for a few years yet -- and that sent shares soaring on Wednesday. Watch the video for the full story.
Fight back against higher taxes!
Tax increases that took effect at the beginning of 2013 affected nearly every American taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "How You Can Fight Back Against Higher Taxes," the Motley Fool's tax experts run through what to watch out for in doing your tax planning this year. With its concrete advice on how to cut taxes for decades to come, you won't want to miss out. Click here to get your copy today -- it's absolutely free.
The article The 2014 Chevy Silverado Is Driving Big Profits for GM originally appeared on Fool.com.Fool contributor John Rosevear owns shares of Ford and General Motors. You can connect with him on Twitter at @jrosevear. The Motley Fool recommends Ford and General Motors. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.