GM reported a healthy second quarter profit of $2.9 billion, up 157% from the same time period last year. All global segments with the exception of GM South America reported profitability, including GM Europe which posted a profit for the first time since 2011.
GM’s strong financial results are attributed to its new focus on growing retail sales while minimizing largely unprofitable rental fleet deliveries. The company delivered 2.4 million units in Q2 of 2016, increasing retail sales by 1%.
“This was an outstanding quarter for GM,” said Chairman and CEO Mary Barra. “Our results were generated by strong retail sales in the U.S., record sales in China and a continued emphasis on improving the performance of our operations worldwide. We’ll continue to focus on driving profitable growth and leveraging our technical expertise to lead in the future of personal mobility.”