General Motors revenues decline in Q1 2015
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 […]
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 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.
