Big Three automakers log profit in 3d quarter
Oct 31, 2012 | 03:41 PM
| Corinna Petry
Tags
Big Three automakers,
earnings,
General Motors,
Ford,
Chrysler,
Marco Auriemma,
Fiat,
Dan Akerson
Stephen Girsky
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 GM’s 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. ....
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