GM Posts Biggest Profit Ever
General Motors had its biggest profit ever last year, $7.6 billion.
This year, GM expects to increase its revenue as global sales grow and it charges more for models. However, it will make less money per vehicle as the mix of sales continues to shift to cars from trucks, which have bigger sticker prices. It also expects to invest $8 billion on new products and technology, and says pension expenses will rise. The company wants to keep expenses down by freezing its underfunded U.S. pension plan for salaried workers.
GM’s stock price rose $1.08, or 4 percent, to $26.01 in early trading.