Skip to comments.North America, China power GM to record $9.7b annual profit
Posted on 02/03/2016 10:09:04 AM PST by Olog-hai
If you're an automaker, especially one from Detroit, conditions probably aren't going to be better for you to make a lot of cash.
For General Motors, that's what happened last year as the company posted a record $9.7 billion net profit. [...]
Yet even with the earnings, GM gets no respect from the stock market. Its shares were down 3.5 percent at midday Wednesday to $28.61. Investors haven't been kind to auto stocks for years. GM shares are down more than 15 percent in the past year, and are more than $4 below the company's initial public offering price of $33 in November of 2010. [...]
In Europe, GM lost $298 million before taxes, narrowing the loss from last year. International operations including China made $408 million, while the company lost $47 million in South America. ...
(Excerpt) Read more at hosted.ap.org ...
PLENTY of American jobs, yes.
FOR CHINESE PEOPLE.
I'm surprised anyone would invest. As I recall when Obama took over GM he gave owners, i.e., the stockholders only 25 cents on the dollar of what they had invested.
How much of this profit is going to the underfunded pension fund?
Are they paying any taxes yet?
Looks like a success story to me.
In Q4 2014, the average LTV (loan to value) for used vehicles hit 137%.
Average loan term for new cars is now 67 months - a record.
Average loan term for used cars is now 62 months - a record.
Loans with terms from 74 to 84 months made up 30% of all new vehicle financing - a record.
Loans with terms from 74 to 84 months made up 16% of all used vehicle financing - a record.
The average amount financed for a new vehicle was $28,711 - a record.
The average payment for new vehicles was $488 - a record.
The percentage of all new vehicles financed accounted for by leases was 31.46% - a record.
Today, almost 20 percent of all auto loans are given to individuals with credit scores below 620
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