General Motors on Tuesday reported a big jump in profits for the first three months of the year, based on the strength of its gasoline vehicle business, and raised its outlook for the rest of the year.
The company saw slow growth in electric vehicles, but robust sales of internal combustion vehicles, especially pickup trucks, helped raise its profit to $3 billion in the first quarter, a 24 percent jump from the same period a year ago.
also said that it now expects to make $10.1 billion to $11.5 billion in profit this year, up from a previous forecast of $9.8 billion to $11.2 billion.
business and improving profitability,” G.M.’s chief financial officer, Paul Jacobson, said in a conference call with reporters, using the shorthand for internal combustion engine.
He repeated an earlier forecast that G.M.’s battery-powered cars and trucks would start generating profits in the second half of this year.
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’, Paul Jacobson, Jacobson, G.M
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