Dayton Daily News

General Motors reports income of nearly $12 billion


General Motors Co., which co-owns Moraine’s DMAX Duramax truck engine plant, reported strong 2018 full-year earnings, including income before taxes of nearly $12 billion.

“Results were driven by strong pricing, surging crossover sales, growth of GM Financial earnings, discipline­d cost control and the successful launch of the company’s all-new full-size pickup trucks: the Chevrolet Silverado and GMC Sierra,” the automaker said.

For the full year, GM reported diluted earnings per share (EPS) of $5.58 and EPS-diluted-adjusted of $6.54.Fullyear income was put at $8.1 billion and earnings before interest and taxes (EBIT) was reported to be $11.8 billion.

In North America, that amount was put at $10.8 billion, and in China, GM’s equity income was $2 billion, the company said.

Last year, GM scheduled five North American plants for closure, including its plant in Lordstown, Ohio, which will close March 11.

The Lordstown plant builds the Chevrolet Cruze, and that production will cease, with no plans at this time for the Northeaste­rn Ohio plant to get another vehicle.

In all, GM is shedding at least 5,000 North American jobs, but media reports have said 2,700 GM workers will be offered jobs at other facilities.

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