The American car manufacturer General Motors (GM) got through the third quarter of the year well. The company benefited in particular from the strong demand for pick-up trucks and SUVs in the home market.
GM closed the measurement period with a profit of $ 4 billion, equivalent to 3.3 billion euros. That is considerably more than the 2 billion euros that remained at the bottom of the line a year earlier. The result was also much better than what was initially taken into account.
The company’s turnover was 35.5 billion dollars (30 billion euros), the same as a year earlier. Despite the crisis, GM continued to invest in initiatives for electric driving and autonomous driving. An example of this is the Ultium battery technology. A completely new range of SUVs was also launched. Some highlights that are still in the pipeline are the GMC Hummer EV and the Cadillac Lyriq.
In pick-up trucks, GM said it remained the market leader in the US. The company managed to gain market share in the SUVs according to its own calculations. In China, GM sales improved by 12 percent over the measurement period. Buick and Cadillac cars in particular proved popular in the important Chinese car market. The total worldwide market share fell slightly compared to the third quarter last year: from 10.7 to 10.6 percent.