Finance Feeds logo

General Motors revenues decline in Q1 2015

Noam Stiekema

The US automotive giant General Motors revenues decline in Q1 2015 after weaker demand from Brazil and Russia. The Detroit-based company reported revenue of 35.7 billion USD, which is a decrease of 4.5% compared to an year earlier. The net profit of General Motors for Q1 2015 was 945 million USD, compared to 145 million […]

General Motors sales

General Motors salesThe US automotive giant General Motors revenues decline in Q1 2015 after weaker demand from Brazil and Russia. The Detroit-based company reported revenue of 35.7 billion USD, which is a decrease of 4.5% compared to an year earlier. The net profit of General Motors for Q1 2015 was 945 million USD, compared to 145 million USD an year ago, when results were affected by costs for service shares.

In March, GM announced it would close its Russian plant because of weak demand. The results in South America, apart from lower demand from Brazil were affected by strong USD. The CEO Mary Barra remains optimistic. “Our results in the first quarter provide a solid foundation for achieving the financial commitments for the year. The continued execution of our plan leads to profitable growth, return on invested capital and shareholder value”, she said.

Earlier in April, GM announced sales of 2.4 million vehicles in the first quarter, slightly less than Volkswagen and Toyota. At present Toyota is the largest car manufacturer in the world after announcing sales for the first quarter to 2.52 million vehicles.

Subscribe

Read this next

Uncategorized

Investors transfers $424 million out of bitcoin funds in six weeks

Despite bitcoin’s decent surge last week, which took the primary cryptocurrency up 70% from the year’s low, digital asset investment products saw outflows for the 6th consecutive week.

Digital Assets

OKX has $9 billion in ‘clean assets’, shows latest proof of reserves

OKX, formerly known as OKEx, has released its fifth proof-of-reserves report amid increasing demand of crypto investors asking for transparency from exchanges they trade with.

Digital Assets

Circle seeks France license to launch Euro stablecoin

Circle, the issuer of the second-largest stablecoin by market capitalization, is seeking to get a dual registration in France as it aims to on-shore its flagship product for the European market – EUROC – a reserve-backed stablecoin.

Digital Assets

CryptoWallet.com Among Minority of Successful Companies to Renew Coveted Estonian License

CryptoWallet.com has successfully renewed its virtual currency service license from Estonia’s FIU for the third year in a row, despite regulatory changes that have made it harder for virtual asset providers to meet the required standards.

Inside View, Institutional FX

Time for brokers to add options trading as volumes explode on high volatility

“Usually, adding options to the typical CFDs and equities offering leads to fragmentation of the platform technology as many brokers will need additional back-end and front-end components, and that could be an important barrier for them. Apart from that, legal hassle and costs associated with proper licensing of market data could be a barrier at first. We are seeing this trend among market data vendors and exchanges to make it easier and more affordable.”

Metaverse Gaming NFT

GCEX’s DeFi education and prime brokerage offering available in DubaiVerse

“We are excited to be part of the developments of The Sandbox and to join other top players in the region, including our regulator, Dubai’s Virtual Asset Regulatory Authority (VARA), as part of the DubaiVerse. This is a great opportunity to bridge the gap between Web3 early adopters and GCEX clients, building a community around Web3 and digital assets.”

Digital Assets

Circle wants Fed to back USDC stablecoin after “very serious stress test” with collapse of SVB

The collapse of Silicon Valley Bank allegedly proves Circle’s point that there is a need for its USDC stablecoin to be backed by the U.S. Federal Reserve with its U.S. dollars held at the Fed.

Digital Assets

Google searches for Crypto.com and Gate.io exploded by 300% amid FTX collapse

“The findings emphasize the importance of staying on top of market trends and being able to pivot strategies quickly and also offer valuable insights into the current state of the market and the behavior of traders, providing investors with valuable information to make informed decisions about their investments.”

Institutional FX

iS Prime reports £35m turnover, £16.2 million pre-tax profits, £37 cash balances

“We have plans in place to evolve the business over the next year, driving further growth for both iS Prime and for our clients.”

<
✖