General Motors Corp. was more profitable as a bank than an automaker during first quarter 2001. Crediting strong earnings ($431 million) at General Motors Acceptance Corp. and successful cost cutting measures, GM overcame a slowing U.S. market and losses overseas to report first quarter earnings of $225 million ($0.50 per share) — twice Wall Street projections — on revenues of $42.6 billion. Earnings exclude a $12 million gain due to a change in accounting procedures on revenues of $46.9 ...
Premium Content (PAID Subscription Required)
"GMAC Saves GM 1Q Earnings" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.