General Motors (GM) has reported a 14% fall in net profits during the first three months of 2013, as its European operations were hit by the region’s economic crisis.
A 12.5% fall in income in North America also contributed to profits falling to $865m.
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GM’s first quarter income fell in spite of a 3.6% rise in the number of vehicles sold, to 2.3m.
“The year is off to a solid start as we increased our global share with strong new products that are attracting customers around the world,” said chairman and CEO Dan Akerson.
“In addition, we saw progress in Europe thanks to strong cost actions and great vehicles like the Opel Adam and Mokka.”
For the full GM statement, click on ‘press release’ below
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