GM income declines in Q2 of 2017: Report
CHICAGO — General Motors (GM) on Tuesday reported $2.4 billion income in the second quarter from continuing operations, down 11.3 percent from a year ago.
GM delivered 725,000 total vehicles in the United States, driven by a 24-percent increase in retail crossover sales during the period. GM added that the Q2 crossover results were the best in his history.
However, GM's US daily rental sales were down about 25,000 vehicles or 35 percent compared to Q2 2016. The daily rental sales were 6 percent of total vehicle sales in Q2, the lowest of any full-line automaker.
In China, GM's biggest market, its deliveries of 852,000 vehicles set a second-quarter record, up 1.6 percent compared to Q2 2016. Strong sales of Cadillac and Baojun vehicles led the way, up 62 percent and 66 percent respectively.
For the first half of 2017, GM sold a total of 2,342,675 vehicles globally. Its sales saw increases in South America and China, while recording declines in Europe, North America and other markets.
