GM sees global profits rising 'modestly' with 2013 models
DETROIT (Bloomberg) -- General Motors, on the verge of reporting a 12th straight quarterly profit, forecasts 2013 profit rising "modestly" as new models meet expanding global demand.
Earnings before interest and taxes should rise this year, the automaker said in a statement.
GM hadn't given profit forecasts since before its 2009 U.S.-financed bankruptcy restructuring.
"Our portfolio of new, world-class vehicles puts us on a strong footing to grow profitably," Chief Financial Officer Dan Ammann said in the statement. "We're launching more vehicles globally than at any time in our history and some of our most important models are targeting the two largest markets in the world -- the U.S. and China."
GM last month announced a $5.5 billion deal to purchase 200 million shares from the U.S. Treasury after the automaker's 2010 initial public offering.
The government also said in December that it planned to sell its remaining 300 million GM shares within 15 months.Contact Automotive News