General Motors on the Road to Profits
General Motors is en route to make profits this year. Wednesday the automaker's new Financial Chief Chris Liddell shared the good news. Liddell said the company is already making money in Brazil and China, and sales in North America are also doing well. However, G-M is still struggling in Europe.
The company has been treading a rocky road financially, but after bankruptcy, layoffs and cutbacks company officials predict a smoother ride ahead, and it's much sooner than many had expected.
Jason Cords, Shaheen Chevrolet: "To me it's unreal, we really felt like and had been preparing for a 2 or 3 year low."
Randy Freeman, Vice President, UAW local 652: "I think a change in some of the leadership helped turn things around."
News of the quick turnaround has brought relief to dealership, and to those who work on the factory lines.
"When GM filed for bankruptcy ever dealer in the world said what is going to happen here? The unknown was very scary... And with good news now coming out, it seems like we have our feet on the cement again," Cords said.
With the possibility of profitability coming soon, the local GM community believes consumer confidence and company morale will be on the rise.
"It makes the public want to go out and buy GM," said Cords. The automakers recovery is still in progress, but some say the progress they've seen so far maybe a good indicator of where the company is going.
"I think we are a strong company. We've become leaner," Freeman said.
In order for GM to make money this year, the company's financial chief said auto sales and the economy will have to continue to recover.
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