General Motors Chairman and CEO Dan Akerson has highlighted the success of GM's recent new product rollouts in North America in an earnings call with financial analysts that followed the company's third quarter results announcement yesterday.

GM North America reported third quarter EBIT of US$2.2bn compared with US$1.7bn in the third quarter of 2012 and Akerson highlighted the positive impact of higher margins in the region.

He said that GM in North America has done a “great job” in executing a very aggressive product plan.

“We are talking about more than a dozen Chevrolet, Buick, GMC, and Cadillac launches so far this year. Combined, they represent more than one million sales on an annualised basis,” Aklerson told analysts. 

“In particular, the launches of the new Chevrolet Silverado and GMC Sierra have been nearly textbook perfect,” he added.

Akerson went on to say that GM incentives on trucks are going down. “Since the first quarter of 2013, GM incentive spending on light duty trucks has been trending down and the average transaction prices have been trending up,” he said. “The pace of improvement definitely picked up in the third quarter, which reflects an increasing mix of 2014 models, which are now about 75% of sales and stable.”

Akerson also praised GM in Europe for reducing its losses in the third quarter (GM Europe reduced its third quarter EBIT loss to US$200m compared with US$500m in Q3 2012), remarking that it has been tending to green shoots of recovery.

“GM Europe has managed to stabilise key metrics, like volume and pricing, in an extremely challenging market,” he said. “In fact, they increased their revenue year-over-year for the first time in two years.”

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