Article

2021-02-11 Economy

General Motors records $6.4 billion profit in 2020 amid pandemic

[TheHill] General Motors recorded a $6.4 billion profit in 2020, a slight drop from the previous year, even with the coronavirus pandemic affecting businesses around the world.

The automaker issued its full-year and fourth-quarter reports for 2020 on Wednesday, showing the company made a strong comeback last year after its North American plants had to shut down in the spring for about two months.

"GM’s 2020 performance was remarkable by any measure, and even more so in a year when a global pandemic caused companies around the world — including GM — to temporarily suspend manufacturing operations to keep employees safe," CEO Mary Barra wrote in a letter to shareholders released Wednesday.

"Once-in-a-century challenges like these are tough, but they also provide much-needed clarity and perspective," she added.

The company still documented an 11 percent drop in revenue to $122 billion compared to 2019’s $137 billion revenue and $6.7 billion profit, according to The New York Times.

Posted by Besoeker 2021-02-11 01:19|| || Front Page|| [11127 views ] Top

#1 Good..then they can start to repay the American people the $10B Obama gave them years ago. Tell you what..we'll even forgo interest ... just pay the original $10B back

Posted by Warthog 2021-02-11 09:35|| 2021-02-11 09:35|| Front Page Top

#2 Maybe we should ask Raj if it is likely that they decided to move future TY 2021 "Profits" to TY 2020 to avoid a Biden/Pelosi scalping?

Posted by magpie 2021-02-11 13:08|| 2021-02-11 13:08|| Front Page Top

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