Car News: G.M. Posts Record Profit of $9.7 Billion for 2015

Thursday, March 17th, 2016 - Automotive, car news, General Motors, gm

Source : Car News: G.M. Posts Record Profit of $9.7 Billion for 2015

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DETROIT – General Motors , the largest car manufacturers inside the country, said on Wednesday which earned record profits through $ 9.7 billion in 2015, primarily due to strong performance in North America in addition to its core market.
has strengthened the results according to the special items, including alterations in valuations of some assets, which added $ 1.5 billion total net income.
amendments assess helped General Motors overcome some other charges taken last year to settle Justice Department investigations into faulty power switch linked to 124 deaths in addition to compensation for victims of accidents inside the affected vehicles.
performance of General Motors represents a marked
, the company’s CEO, Mary Barra said enhanced net income 2.8 billion $ in 2014. The strong earnings help GM adding brand new products in addition to investment in electric cars in addition to some other brand new technology.
“We continue to strengthen our core business, which laid the foundation stone for the company to lead inside the transformation of personal mobility, said:” Ms. Parra said in a statement.
for the year, GM said reports revenues of $ 152400000000, compared with $ 155900000000 in 2014. The company said the change is usually mostly related to the negative impact of currency exchange rates in some markets.
The company said which its results were in North America is usually the driving force behind the performance of its record.
General Motors said which earned a profit before tax amounted to 11 billion $ inside the region in 2015. Under the brand new terms of the contract, which was signed last year with the Federation of the United Auto Workers, the results translate into profit-sharing checks of up to $ 11,000 per hour to 49,000 employees.
automaker has achieved mixed results in some other regions of the earth, reporting losses before tax of some 800 million to 0 million $ in Europe in addition to $ in South America, pretax profit amounted to 1.4 billion $ the division of its international obligations, which includes China.
For the fourth of last year’s quarter, GM said which earned a net income of 6.3 billion $, which represents a significant increase over the $ 1.1 billion earned inside the same period last year. The total earnings per share, after adjusting certain items, $ 1.39, up 17 percent through the fourth quarter of 2014. The figures per share beat a profit of $ 1.20 on the basis of analysts surveyed by Bloomberg.
The company posted revenue of $ 39600000000 inside the fourth quarter, which was about the same as the previous year.


Associated Press



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