Royal Oak Tribune

U.S. automakers put virus behind them, see boom


DETROIT » General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months, after a short money-losing stretch as the spread of COVID-19 shut down all U.S. auto factories.

Automakers have sprinted out of their pandemic lockdowns, and GM’s big quarter follows similar performanc­es at crosstown rivals Ford and Fiat. All three blew past Wall Street’s sales and profit projection­s.

Last week, Fiat Chrysler reported a $1.4 billion quarterly profit.

Ford earned $2.39 billion, triple Wall Street projection­s. While shares are down for the year, the stock of all three automakers has surged in the past three months.

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