GM expects pretax profit improvement in 2013, 2014
DETROIT - General Motors (GM) expects pretax earnings to improve modestly this year, offset by $1.1 billion in European restructuring costs.
The Detroit-based company also said
pretax earnings and revenue were up in 2013 thanks to the launch of new
vehicles like the Cadillac ATS.
The automaker earned $8.4 billion
before taxes on $152 billion in revenue in 2012. The company releases 2013
earnings next month.
GM's new president, Dan Ammann, and
new chief financial officer, Chuck Stevens, discussed the outlook Wednesday at
a Deutsche Bank conference in Detroit.
GM says it expects global industry
sales to grow by about 2 percent this year, to more than 85 million vehicles.
It's opening four new plants in China through 2015 to keep up with that growth.
GM shares fell 39 cents to $39.63 in premarket trading about an hour before the market open.