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GM Earns $3.2 Billion in First Quarter
By The Associated Press
(DailyFinance)

07:37:06AM (DST) Friday,May 6,2011.

General Motors Co. (GM) reported its highest quarterly profit in more than a decade, helped by fuel-efficient cars and smaller SUVs that were in demand as gas prices marched higher.

The biggest U.S. automaker said Thursday that it earned $3.2 billion, or $1.77 per share, in the first quarter. It was

a great start in a challenging climate that would have sunk the company just a few years ago when it was too reliant on gas-guzzling pickups and SUVs for profitS. It was GM's fifth consecutive quarterly profit since late 2009, when it left bankruptcy.

GM's results follow strong earnings reports at crosstown rivals Ford Motor Co. and Chrysler Group LLC, a sign that the U.S. auto industry is recovering well from the recession and bankruptcies.

GM thrived in the quarter by selling small cars like the new Chevrolet Cruze, and efficient crossover vehicles such as the Chevrolet Equinox and GMC Terrain. Revenue rose 15 percent to $36.2 billion, driven by a 25-percent jump in U.S. auto sales and a 10-percent gain in China, which has emerged as GM's biggest market. Sales are so strong that GM almost certainly will retake the title of world's biggest automaker from rival Toyota Motor Corp. this year.

Shares of GM fell 60 cents, or 1.8 percent, to $32.44, in premarket trading.
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* Outside of the shares fallen,this is good news profit-wise for GM. *


( good to see GM-Ford-Chrysler making profits all @ the same time.)

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