August 4, 2011- General Motors on Thursday posted second quarter earnings and said they earned $2.5 billion representing an increase of 89% over the results from the same period last year. The largest automaker in the US, GM reported revenue of $39.4 billion or about a 19% increase.
Their sales were helped by their North American market that has been their core. They earned $2.2 billion from that sector. The investments that GM has made in quality, design and fuel economy are starting to payoff all over the world said its chief executive Daniel Akerson.
All of their automotive regions posted a profit saying they earned $100 million in Europe that has consistently had sluggish sales and higher costs.
Income of $600 million was reported in Asia and in South America that figure was like Europe $100 million. Figures that were posted were higher than market analysts had predicted due in part to the slow industry sales in the US market.
They produced over 2.4 million vehicles during the second quarter and have a global market share of 12% up slightly from their 2010 second quarter results. In the six months of 2011 ending June 30, 2011 their net income is $5.4 billion compared to only $2.2 billion in the first six months of 2010.