DETROIT, MI — General Motors says it is selling more trucks in North America than any other auto manufacturer by a substantial margin. The Detroit-based company said Tuesday its first-quarter net profit jumped 19% over a year ago. The automaker announced it made $2.37 billion from January through March, up from $1.99 billion in the previous year, according to its Q1 earnings release.
GM in the first quarter reported a year-over-year 17.6% sales increase. Thanks to more inventory, GM U.S. dealers sold 603,208 new vehicles in the first three months of 2023 up from 512,846 sold in the first quarter of 2022. For the first time, GM sold more than 20,000 electric vehicles in the United States.
The auto company, which employs over 4,000 workers in Lansing between two manufacturing facilities, recently reduced its white collar workforce by about 15%. GM already is seeing benefits from the buyouts, according to a statement from the company. with a projected $1 billion annual savings this year alone.
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