General Motors Co. and its peers have been battening down the hatches as adverse economic conditions slam the auto industry. But after Chief Executive Officer Mary Barra announced a bigger-than-expected first-quarter profit, some are speculating the carmaker could post positive earnings for the full year.
The results Barra reported Wednesday benefited from redesigned big pickups and her restructuring of GM, which has better positioned the company for the COVID-19 pandemic.
After pulling the carmaker out of money-losing markets, GM has whittled down its main operations to China — which the CEO says is seeing a V-shaped recovery — and the U.S., where sales haven’t been as dismal as feared.