GM rides US love for trucks, SUVs to blowout 3Q profits

New York (AFP) – America’s love of big autos translated into blowout results Thursday for General Motors, which also benefited from recovering sales in China following a big hit amid the coronavirus pandemic.The US auto giant, which recently launched new sport utility vehicles to accompany its fleet of revamped pickup trucks, enjoyed lofty profit margins in North America, fueled by strong vehicle pricing and tight auto inventory.Executives spoke of “pricing power” in the US, partly thanks to the approximately two-month closure of two US auto plants this spring due to Covid-19. Production resum…

Read More

HEDGE accordingly