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| GM profits accelerate on US truck demand | GM profits accelerate on US truck demand |
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| US car giant General Motors has reported second quarter profits that have more than trebled to $1.1bn (£720m), driven by North American Chevrolet sales and continued strength in China. | |
| Net income rose to $1.117bn from $278m a year ago, when the firm took a big charge relating to recall costs. | Net income rose to $1.117bn from $278m a year ago, when the firm took a big charge relating to recall costs. |
| Its shares rose more than 7% in early trading on the New York Stock Exchange. | |
| GM's North American operations generated earnings of $2.78bn. | |
| "The first two quarters of the year were strong as we fully capitalised on a robust North American industry and maintained our strength in China, despite the challenging conditions in that market," said GM chief executive Mary Barra. | |
| In the US, GM sold 576,000 Chevrolet cars, trucks and crossovers in the quarter. In Europe, 303,000 Vauxhall/Opel models were sold, while in Asia Pacific, the Middle East and Africa, Wuling models were the most popular, selling 370,000. | |
| GM said its joint venture operations in China improved profit margins to 10.2% from 10% a year ago, despite sluggish demand. | |
| The carmaker also said its North American results were hit by a $75m charge for a compensation fund for those affected by a recall of millions of vehicles with defective ignition switches, bringing the cost of the compensation fund to $625m. |