GM profit roars ahead

General Motors posted stronger-than-expected quarterly profit as the US automaker kept a tight grip on costs in its North American and European businesses.

The international unit, which includes China, had an operating profit of US$495 million (HK$3.84 billion), while South America recorded a small US$38 million (HK$294.85 million) loss. Both results were weaker than expected.

Ammann said strong results in China were offset by weakness in the rest of the international operations. He said the South America business is expected “to build” this year on last year’s profit.

via Business feed http://www.scmp.com/business/companies/article/1229088/gm-profit-roars-ahead