Vauxhall parent posts encouraging figures
GENERAL Motors, the US automotive giant and parent company of Vauxhall, has reported strong first quarter figures.
The manufacturer, which is in the throes of a major turnaround after entering bankruptcy protection in 2008, said it had achieved a milestone break-even result in its European arm, which includes Vauxhall, which has a major manufacturing site in Ellesmere Port employing around 2,000 people.
GM Europe, which includes Opel and Vauxhall broke even after a making a $600m loss year, and also grew its market share.
GM’s first quarter profit of $3.2bn (£1.95bn), was more than three times what it made a year ago. The results were boosted by a recovery in the US market and strong sales in China.
Revenues rose 15% to $36.2bn, with sales worldwide up 12%. In the US sales were 25% higher.
The results represent GM’s fifth consecutive profitable quarter.
Chairman and chief executive Dan Akerson said: “We are on plan. GM has delivered five consecutive profitable quarters, thanks to strong customer demand for our new fuel-efficient vehicles and a competitive cost structure that allows us to leverage our strong brands around the world and focus on driving profitable automotive growth.”
A decision on where a new electric-powered model, Ampera will be made is due later this year, with Ellesmere Port seen as a strong contender.
