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General Motors increased strong its profit for the first quarter

General Motors' profit for the first quarter tripled on an annual basis, exceeding forecasts, driven by recovery in the U.S. and strong sales in Asia. The net profit for the company's first quarter rose to 3.2 billion USD compared to only 900 million USD for the same period last year. The GM's revenue rose by 15% to 36.2 billion dollars in the expectation of 35.6 billion USD. Excluding extraordinary income, as are sales of shares of General Motors' Ally Financial and parts manufacturer Delphi, profit for the period was 1.72 billion USD in forecasts for 1.65 billion USD analysts interviewed by Thomson Reuters. The U.S. carmaker has said it expects profit this year without extra elements to increase significantly aided by more favorable prices and lower fixed costs in North America. According to Chief Financial Officer Dan Aman company General Motors is in a position to benefit from higher gasoline prices because of the diversified portfolio to three years ago when the last fuel reached 4 USD per gallon.
"April was very strong for us with a market share of 19.8 percent, the concessions for the purchase are the lowest of the reorganization of the company," said Aman.
GM has been criticized by analysts on Wall Street for big discounts in January and February, which reduced the profits of vehicles sold. Rebates were reduced in March and April, but still larger than those of city rival Ford.
GM, which received state aid from 50 billion USD, made a surprise recovery from bankruptcy and is on track to regain the position from Toyota's largest car manufacturer in the world.