Awaiting STLA profits, we see GM is down and Ford is up
GM’s pretax profit in North America rose by 14% in the first quarter, to $3.6 billion, but the company as a whole saw net income drop by 19%, to $2.4 billion. This was largely due to $875 million for employee buyouts; the company also set aside $99 million to buy out those Buick dealers who are leaving rather than supporting electric cars. Like Chrysler, Buick sees itself as all-electric in the future. <>Read more