GM Shows 1st Quarter Profit

1st Quarter Profits for GM

DETROIT, MI (WXYZ) - General Motors is manufacturing smiles today.

In announcing its first quarter profits, there was a decent gain for  investors. Probably better than was expected.

The statement shows that stockholders made about 58 cents a share, or $.9 billion. The company made $36.9 billion, which is down from last year when GM reported $37.8 billion for the 1st quarter of 2012.

The company took a little hit in Europe and broke even in South America.
Still, GM Chairman and CEO Dan Akerson is upbeat: "The year is off to a solid start as we increased our global share with strong new products that are attracting customers around the world."

Akerson goes on to say having a good product is key and adds: "With more than 40 new vehicle introductions this year globally, our focus will be on flawless launches of the vehicles that will drive results this year and into 2014."

GM is unveiling a new Chevrolet Silverado and GMC Sierra pickups for 2014.

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