GM puts pandemic in rearview mirror, sales boom in US, China

[Omaha Steve]

Source: AP

DETROIT (AP) — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak.

GM’s adjusted earnings were $2.83 per share, easily outpacing Wall Street’s per-share projections of $1.43, according to a survey by FactSet.

Revenue of $35.5 billion also edged out most expectations.

Shares jumped almost 6% before the opening bell Thursday.



FILE- This Jan. 16, 2019, photo shows a Cadillac ATS V in Detroit. General Motors posted stronger-than-expected earnings in the third quarter, pulling in $4 billion in profit just one quarter after losing money due to the virus outbreak. GM said, Thursday, Nov. 5, 2020, it had adjusted earnings of $2.78 per share on revenue of $35.5 billion. (AP Photo/Paul Sancya, File)


Read more: https://apnews.com/article/virus-outbreak-5bf3ae135da343adfa2d41188b95ce37

[sandensea]

1. Where would the economy be w/o the Democrats' Paycheck Protection and relief bills

We owe so much to Nancy Pelosi. Thank you.

[Mr.Bill]

4. And where would it be if Biden and the rest of the Obama administration hadn't saved

the American auto industry?

[sandensea]

5. And how the Rethugs wailed and gnashed their teeth against their recovery package

All the while, wishing and hoping it failed.

Today's GOPee has become a fifth column - worse than anything any U.S. adversary could've hoped to infiltrate into the country.

[Initech]

2. I've been seeing *LOTS* of new cars on the road lately.

And I'm definitely a contributor to that number, my new Subaru is quite nice compared to my old Nissan!

[sandensea]

7. Kudos! Although new vehicle sales this year will be down around 15%

That's pretty good considering the context - but there's still a ways to go.

[DFW]

3. This seems logical enough

With Corona encouraging people to seek out modes of transportation that do NOT involve being packed together like sardines, if the airlines are reducing flights to pack the planes they are still flying, and maybe the bus companies doing the same, and public transportation like subways and local buses not offering enough distance to feel safe, especially from mask-less miscreants, I find it perfectly believable that sales of new personal cars are up.

[forthemiddle]

6. We just bought a brand new Toyota Venza (Hybrid)

And the dealership said that they have had the best quarter in the history of the dealership.
Also, we got thousands more for our trade in than Kelly Blue Book.
They said they can not keep decent used vehicles on the lot.