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The Lexington Group Predicts Bullish Q3 And Q4 For General Motors
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July 16, 2013 - CHIYODA-KU, Japan -- General Motors is a multi-national auto manufacturer; it is one of the world´s largest automakers, doing business in 157 countries. Since the beginning of quarter one this year, General Motors has increased its worldwide market share from 11.2% to 11.4% and seen an impressive gain from 17.2% to 17.7% in the United States. Last month sales increased in China by 10%. However, 62 percent of its revenue is still generated in North America.
General Motors has lost a bit of ground in its home market, North America. Net profits have dropped 14% to $1.41 billion. The decrease is related to a decrease in production of two of its highest profit margin trucks and renovations of a number of their manufacturing plants.
The company has managed to reduce losses in Europe from $256 million to $175 million in the first quarter and is now hoping to reach the break-even point by 2015. Their top competitor, Ford Motors, posted a far greater loss of $462 million from European operations.
Lead Auto Industry Analyst Matthew Stevens, at The Lexington Group said, "I´m expecting General Motors to improve in the second half of 2013. They are planning to release 13 new vehicles from Chevrolet in the United States and 12 new vehicles in other markets. General Motors also announced they are planning to open four new factories in China that would boost production by 30%. General Motors has positioned itself to take advantage of higher demand from emerging markets. They have improved sales in Europe, and increased demand for trucks in the US should propel General Motors to the top of the industry."
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