[SSS]

GM reported a second quarter income of $1.2 billion; that number is actually a year-over-year drop compared to Q2 2012. The drop is associated with expenses related to launching the new line of full-size pickup trucks (the2014 GMC Sierra and Chevrolet Silverado), and acquiring GM Korea. Those one-time costs aside, GM shows a seven-percent increase in income before interest and taxes, to $2.3 billion.

GM also slashed its European losses by $284 million over 2Q 2012. GM's North American success, like Ford's, can be tied to strong demand for pickups. This is GM's fourteenth straight quarter in black since bankruptcy in 2009.

Is the General back on its feet?

 

[fincherific]

GM reported a second quarter income of $1.2 billion; that number is actually a year-over-year drop compared to Q2 2012. The drop is associated with expenses related to launching the new line of full-size pickup trucks (the2014 GMC Sierra and Chevrolet Silverado), and acquiring GM Korea. Those one-time costs aside, GM shows a seven-percent increase in income before interest and taxes, to $2.3 billion.

GM also slashed its European losses by $284 million over 2Q 2012. GM's North American success, like Ford's, can be tied to strong demand for pickups. This is GM's fourteenth straight quarter in black since bankruptcy in 2009.

Is the General back on its feet?

This is promising for sure, but GM needs to keep this going longer to show it is sustainable. Also, I just read today that for the government to break even on their bailout, the remaining stock they hold would need to triple. Since they are looking to unload their remaining shares ASAP the taxpayers will most likely see a loss here, over 5 billion probably, depending on when the last shares are sold.

I still beleive in the General, but the public perception is going to take awhile to come around, "Government Motors" is catchy for a lot of idiots out there.