GM shows best 1Q overall sales since '08, as Cruze sales fell

LORDSTOWN

General Motors reported net income of $2.6 billion on record revenue of $41.2 billion during the first quarter of 2017.

The income was up 33.5 percent year-over-year, and revenue was up 10.6 percent.

In North America, the Detroit automaker reported record adjusted earnings of $3.4 billion, up from $2.3 billion reported in the first quarter of 2016.

“It was an outstanding performance by GM in the first quarter,” said Michelle Krebs, senior analyst for AutoTrader. “They set a number of records. I think it speaks to the strength of their strategy to focus on profitability more than just shear volume.”

In the U.S., the automaker sold 689,521 vehicles during the first quarter. GM had its best first-quarter retail sales since 2008. Sales were driven by a 16 percent increase in crossover sales and a 3 percent increase in truck deliveries.

Glenn Johnson, president of UAW Local 1112, said the situation for the local autoworkers is bittersweet: They are happy to see the company doing well, but they wish the market for small cars would pick back up.

“We understand the profits show that the company is doing a fantastic job,” Johnson said. “The market has softened in small cars and has had a negative impact on our membership.”

Read more about the situation in Saturday's Vindicator or on Vindy.com.