Big Three automakers log profit in 3d quarter
Oct 31, 2012 | 03:41 PM
| Corinna Petry
CHICAGO All three Detroit-area automakers were profitable in the third quarter, with strength in North America largely offsetting substantial losses by European operations.
General Motors Co., Ford Motor Co. and Chrysler Group LLC all plan to reduce inventories globally in the fourth quarter, but were reluctant to provide specific forecasts for 2013 just yet.
Detroit-based GMs net income in the three months ended Sept. 30 fell 11.8 percent from a year ago to $1.5 billion despite a 2.5-percent increase in revenue to $37.6 billion, and Dearborn, Mich.-based Ford saw net income slip 1.1 percent to $1.63 billion on sales that fell 3 percent to $32.1 billion. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.