Detroit: General Motors said yesterday that it expects improved earnings and margins in 2015 after paying out nearly $2bn for recalls and victims compensation last year.
GM said it foresees “modest” growth in the overall auto industry worldwide this year, but that it is counting on continued improvement of its own operations in North America, China and Europe to offset downturns in Latin America and Russia.
“We had a pivotal year in 2014,” said Mary Barra, marking the end of her first year as chief executive.
“We’ll build on this momentum in 2015 and continue executing our plan to become the most-valued automotive company.”
The largest US automaker sold 2.94 million cars and trucks in the US last year, a 5.3 percent gain. In its now-largest market, China, it sold 3.5 million vehicles last year, up 12 percent from 2013. The company has not announced its global total, but analysts are waiting to see if that hits 10 million cars and trucks sold, which would make GM a challenger along with Volkswagen to Toyota’s crown as the world’s largest automaker. AFP
