Fleet News

GM earns a record

RECORD earnings in 1999 have been reported by General Motors, the world's largest vehicle manufacturer, although earnings in Europe were diluted due to intense competition despite record sales. General Motors, which includes Vauxhall in the UK, saw after-tax profits from continuing operations reach $5.69 billion last year (1998: $3.32 billion).

However, GM Europe figures dropped to $423 million (1998: $463 million). In the last quarter of 1999 overall General Motors profits dropped to $1.25 billion (1998: $1.91 billion), while GM Europe earnings dropped to $30 million (1998: $146 million).

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