GM posts huge 2018 profit on strong vehicle pricing


    Company says performance better than previous year/Photo Courtesy of GM<br><p>{/p}

    General Motors announces the company is posting an $8.1 billion net profit for 2018 due to better prices for vehicles sold in the U.S., its most lucrative market.

    The performance was far better than the previous year when the company lost $3.9 billion after a giant tax accounting charge.

    G-M made $10.8 billion before taxes in North America.

    The news means big profit-sharing checks for about 46,500 union workers in the United States.

    Each perspective worker will get $10,750 each.

    This is down from last year's $11,500.

    The company said Wednesday it made $5.58 per share for the year.

    The company adds without special items for restructuring the profit was $6.54 beating Wall Street expectations of $6.29.

    G-M made $1.40 per share in the fourth quarter.

    Excluding restructuring charges, the company made $1.43, beating Wall Street estimates of $1.24.

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