General Motors Co. , the largest U.S. automaker, may report $1.74 billion in net income for the three months ended in March as rising sales in the U.S. and China helped the company to its best first quarter since 2000.
General Motors Co. fell to the lowest since its initial public offering in November as rising oil prices dimmed the outlook for truck sales after the largest U.S. automaker’s most profitable year since 1997.
U.S. stocks retreated, sending the Standard & Poor’s 500 Index to the lowest level since January, following an increase in jobless claims, a wider American trade deficit and a slowdown in China’s export growth.
As a Morgan Stanley banker in 2006, Dan Ammann helped General Motors Corp. dismantle its lending business. When he takes over as the automaker’s chief financial officer April 1, he’s going to try to build it back up.
General Motors Co. , pitching investors on its initial public offering, said earnings before interest and taxes may rise to as much as $19 billion in what it called a “high cycle” for the global automobile industry.
General Motors Co. Chief Financial Officer Chris Liddell said the automaker’s $865 million first- quarter net profit is a “good, useful step” on the way to an initial public offering that may come this year.
General Motors Co. Treasurer Dan Ammann , who takes over as chief financial officer on April 1, said the company is considering ways to expand into offering dealers loans for purchases of new inventory.