UPDATE 1-GM lays foundation for 10 pct margins by mid-decade -exec

Newswire

By Deepa Seetharaman DETROIT, March 27 (Reuters) - General Motors Co is laying the groundwork to achieve 10 percent profit margins by mid-decade by launching new models and taking better advantage of its global scale, North American Chief Financial Officer Chuck Stevens said. The largest U.S. automaker needs an additional $2.5 billion to $3 billion in earnings against its current revenue base to reach its goal. From 2010 to 2012, the company's ...

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