The largest US automaker General Motors (GM) is recovering faster than expected from the economic slump caused by the Covid thanks to flourishing SUV and pick-up sales – 19-Pandemic. He earned brilliantly again in the third quarter.

The bottom line was a year-on-year comparison of 74 percent higher profit of 4.0 billion dollars (3.4 billion euros), as the group announced on Thursday. Revenue improved to 35, $ 5 billion (30, € 4 billion). In the previous quarter, sales problems and production stoppages caused by the pandemic led to deep red figures.

Shiny financing business thanks to low interest rates “Sales in the USA and China is recovering faster than many expected, “said CFO John Stapleton. GM benefited from robust demand, especially for pick-up trucks and SUVs.

Almost all of its operating profit was generated in its home market of North America, where thanks to ultra-low Interest rates, the financing business also ran brilliantly. The quarterly figures far exceeded the forecasts of the analysts, the share initially reacted with a price jump of around six percent before the market.

(fpi)