General Motors tops forecasts

City A.M. Reporter
GENERAL Motors posted a higher-than-expected quarterly profit yesterday as the US carmaker narrowed its losses in Europe on aggressive cost-cutting and raised prices in North America.

Net income in the second quarter fell to $1.2bn from $1.5bn a year earlier, hurt by higher costs related to the rollout of redesigned trucks and losses in Asia outside of China.

Second-quarter revenue rose four per cent to $39.1bn, topping the $38.37bn analysts had expected.