General Motors completed the first quarter with decline in net profit by 2.6 times

In the first quarter, the largest US automotive concern General Motors reduced its net profit by 60%, or 2.6 times, in annual terms due to high restructuring expenses in South Korea in the amount of almost $1 billion and a decrease in production in the US, due to planned repair of the enterprise. At the same time, adjusted operating profit of 1 dollar 43 cents per share outperformed analysts’ forecast of 1 dollar 24 cents. Revenues from continuing operations decreased by 3% to $36.1 billion with an expert forecast of 34.6 billion dollars. The US market was supplied by 715 thousand 800 GM vehicles, which is 4% more than a year earlier. In China, sales of the concern reached a record 986 thousand 52 cars.