* Michigan - GM profit tops estimates on strong truck demand, improved China
-- General Motors Co reported record quarterly earnings for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues... GM's robust quarter, which the company said was its best ever, contrasted with disappointing results from other big U.S. manufacturers, which have wrestled with slowing growth in China and the drag on revenues exerted by the strong U.S. dollar... For GM, a big key to its good quarter was in North America, where cheap gasoline has fueled surging demand for large pickup trucks and sport utility vehicles, segments where GM is dominant... In China, GM's share of joint-venture profits for the quarter dipped to $463 million from $484 million a year ago, but profit margins rose to 9.8 percent from 9.6 percent, reflecting sales of higher-priced sport utility vehicles and luxury cars... GM said the $3.1 billion operating profit and 8 percent profit margins in the quarter, which are both adjusted before interest and taxes, were records for any quarter... Chief Executive Officer Mary Barra said the company has not altered expectations for diesel vehicle demand due to Volkswagen AG's emissions scandal...
(Image: GM Sierra 2015) -- Detroit, MICH, USA - Reuters, by Joseph White / Bernie Woodall and Chizu Nomiyama / Jeffrey Benkoe - 21 Oct 2015Labels: truckmakers news USA
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