Most automakers have already reported earnings for the first quarter of 2011, but General Motors is still busy counting its loot. We don't know how well the largest automaker in the United States fared, but Bloomberg reports that GM could post a profit of $1.74 billion for the quarter. That would be a 63 percent improvement versus Q1 2010 and the best first quarter for GM in 11 years. A first quarter profit would also be the fifth consecutive quarterly profit for The General – a significant task given the fact that the automaker exited bankruptcy protection less than two years ago.

GM's profit is expected because of the automaker's successful quarter in the U.S. and China. The automaker sold 26 percent more vehicles in the U.S. during Q1 2011 than it did in the first quarter of 2010, while car buyers in China appear to be picking up as many GM products as they can.

In the short term, analysts are questioning whether a solid profit statement will affect the company's stock. GM is still trading at levels close to the same $33/share when the company's IPO was released. The stock briefly climbed to nearly $39/share before dropping back down into the low $30 range. Analysts claim that GM stocks could take a turn for the better due to supply chain issues for Japanese automakers. The General is reportedly in a good position to reap additional sales as the result of its competitors' issues.


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    • 1 Second Ago
  • 18 Comments
      LinuxAddict
      • 3 Years Ago
      Add camaro to that list, sold more than 10k units last month.
      • 3 Years Ago
      [blocked]
      glid13
      • 3 Years Ago
      Good you used my tax dollars were is my check - you bunch of"Richard Heads"
      dragonrage1191
      • 3 Years Ago
      Very Happy for GM, lets hope that increased profit will lead to some increased investment/reinvestment in American facilities. I remember reading about re-instated engine production in Spring Hill (for I believe the 1.4 Ecotec) that will be placed in the new Sonic and Cruze. Currently I'm a little disappointing seeing the Transmission made in China in the Buick Regal and my parents new Cruze, having both the engine and transmission made outside the U.S. BTW, I'm not ignorant to the fact of the story of GM, suppliers, cost of production, globalization etc.., Just like seeing the fact with a purchase, I am able to support a lot of jobs in the U.S.
      4gasem
      • 3 Years Ago
      And the best cars in 45 years... lol Amazing how they go hand in hand.
      gbreadgirl
      • 3 Years Ago
      I think any car manufacturer than can create a car that gets 50 miles per gallon would be sold out in no time. Keep that in mind, GM.
      LinuxAddict
      • 3 Years Ago
      Why not? They sell Buick and Caddy like mid-size family sedan.
      Mark McClellan
      • 3 Years Ago
      Ok so here I go again. GM has set another record for channel stuffing. They currently have 577,000 vehicles sitting on dealers lots. Guys that's 2.5 months of sales. Look for GM to start trimming back production on some models. *Can I post an image in the comments? I'd prefer to post a chart on the 'current dealer inventory'.
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