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GM reports record $9.7 billion earnings in 2015

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General Motors Co. on Wednesday said it earned a record $9.7 billion in 2015, including $6.3 billion in the fourth quarter The Detroit automaker posted a record $10.8 billion pre-tax profit, with profit margins of 7.1 percent. The strong numbers were driven by good performances in China and North America, where GM earned a record $11 billion with record adjusted profit margins of 10.3 percent. It reached the milestone 10 percent margins a year ahead of schedule. As a result, GM’s roughly 49,600 hourly UAW employees will make up to $11,000 in profit sharing, which will be paid out Feb. 26.

Added on the 03/02/2016 19:42:52 - Copyright : Wibbitz

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