The American General Motors (GM) achieved 48 billion dollars in sales revenue in the second quarter, which is seven percent more than in the same period last year. Net profit rose 4 percent to $2.9 billion.
The company increased sales in North America and compensated for continued weak business in China, where there is fierce competition in the automotive market, the French agency AFP reported.
GM posted losses on its joint venture with a Chinese partner for the second straight quarter. GM Chief Financial Officer Paul Jacobson said they are working to restructure the Chinese firm to make it profitable and sustainable.
GM CEO Mary Barra said in a letter to shareholders that she will continue with a planned increase in production of the Chevrolet Equinox EV electric model (pictured), which she said should bring breakthrough changes because of its moderate price.
Barra also announced the arrival of other electric models, although the company has withdrawn some of its capital investments in light of slower-than-expected sales of electric vehicles, according to AFP.
Source: Seebiz.eu / AFP
Photo: Arhiva Autoblog.rs / Chevrolet
Source: autoblog.rs
