Profits in North America Put General Motors Company (NYSE:GE) in a Formidable Position

General Motors Company (NYSE:GE) has defied Wall Street predictions by earning profits, against all odds, and it has the North American market to thank for that. There have been a lot of consumers in North America that are completely smitten by the trucks and SUVs of General Motors (NYSE:GE), hence resulting in a large profit. General Motors (NYSE:GE) recorded a 39.3 million dollar revenue in the third quarter, beating last year’s 39 million dollars.

Net income was reported to be 1.38 million dollars, topping last year’s 698 million dollar by a large margin. General Motors (NYSE:GE) made 97 cents in earnings per sharing, beating analysts predicted figure by 2 cents; this did not include onetime charges such as flood damage repairing at the General Motors (NYSE:GE) technical center in Michigan and crippling assets in Russia. The executives at General Motors (NYSE:GE) stated that the company owed a large part of this profit to the extra ordinary sales in North America.

General Motor’s truck and utility vehicle brand, GMC gained 28 percent profit; more than 80 percent customers who bought an SUV in North America preferred to purchase either a GMC product or a Chevrolet. The CEO of General Motors (NYSE:GE) stated that the market in South America and Russia had taken a toll on General Motors (NYSE:GE) but all losses were eclipsed by the profits gained in North America and the growing market of China.

General Motors (NYSE:GE) managed to sell 848,000 units in North America as compared to last year’s 808,000 units. The numbers, which are exceptional, speak for themselves. While operations and sales are going superb for General Motors (NYSE:GE) in North America, the sales in Europe are dwindling. The decline has gone on for one whole year and General Motors (NYSE:GE) lost $387 million through the third quarter, as compared to the previous year’s loss of 238 million dollars.

General Motors (NYSE:GE) managed to sell a meager 284,000 units as compared to 344,000 units sold last year. The finances in Europe are a blemish for the otherwise spotless third quarter record of General Motors (NYSE:GE). After General Motors (NYSE:GE) unveiled its third quarter earnings, its shares surged by 3 percent in the stock market on Thursday morning, however year to year stock rating is down by 22.6 percent. General Motors (NYSE:GE) has seemingly conquered its native market and is also fueled by the finances pouring in from China.

What it needs to do now is to concentrate on its offshore operations. General Motors (NYSE:GE) won’t consider itself stable unless it actually is performs on all fronts and in all territories. European market has been causing distress to the company and it’s imperative for the company to analyze the situation and come out with a suitable strategy to assail whatever hurdle that lies in its path. Once General Motors (NYSE:GE) succeeds in charming the market of Europe, then perhaps it will be known as the World’s largest Auto Company instead of just in the U.S.