When GM decided to stop building sedans in favor of updated trucks, the media backlash was severe. The death of the Regal, Impala, Malibu, and others was criticized by many as the end of an era, but it has allowed them to rebuild Hummer and finally offer a mid-engine Corvette. As seen in their most recent press release, GM has published strong performance for the 3rd quarter.
Rebounding from the hit everyone took when the virus fears sunk in, CEO Mary Barra and her team went back to basics. Spurred by heavy investments to modernize assembly plants and praise of the new Corvette, we see a 74% increase in income YTD. With revenue of $35.5 billion, they have $9.9 in cash flow and an income of $4 billion. This equates to $2.78 earning per share versus the same time last year. Click here to view the complete press release with GAAP numbers, then click below to find a new Corvette for sale. Stay with us for more Fast Financials here at duPont REGISTRY.
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