GM’s Profit More Than Doubles – Wall Street Journal

Posted: Thursday, July 21, 2016

General Motors Co., bolstered by strong truck and SUV demand in its core market, posted a 157% increase in net profit in the second quarter, leading the Detroit auto giant to lift annual guidance even amid concerns about financial impact of the U.K.’s decision to exit the European Union.

The auto maker under Chief Executive Mary Barra has spent much of 2016 retooling for the future, spending more than $1 billion to invest in ride-sharing firm Lyft Inc. and to purchase autonomous-vehicle developer Cruise Automation Inc….


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