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GM posts loss on $7-bn non-cash charge; margins up despite sales drop

The company noted that results had improved across all segments and that its South American business had returned to profitability

Reuters  |  Detroit 

General Motors Co on Tuesday posted better-than-expected quarterly results as cost-cutting and higher vehicle prices offset a double-digit decline in US sales volume and said it expected 2018 would be a strong year globally and in North America, sending its stock up more than 1 percent. Speaking to reporters, Chief Financial Officer Chuck Stevens said that despite recent stock market volatility due to concerns that the US economy may be overheating, the No 1 US automaker is "not overly concerned about inflation." "Our forecast is premised on ...

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First Published: Tue, February 06 2018. 21:01 IST
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