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GM CFO Sees Profit Opportunities Despite Third-Quarter Earnings Drop

GM CFO Sees Profit Opportunities Despite Third-Quarter Earnings Drop

The chief financial officer of General Motors suggested recently that despite third-quarter earnings that were down 15 percent from the same quarter last year, there are a number of positive signs that customers are interested in the automaker's vehicles.

USA Today reports GM revealed

The chief financial officer of General Motors suggested recently that despite third-quarter earnings that were down 15 percent from the same quarter last year, there are a number of positive signs that customers are interested in the automaker's vehicles.

USA Today reports GM revealed the numbers just shy of one year since going public on November 18, 2010. Total revenue for the quarter was $36.7 billion, a decrease from last year but slightly better than expected on Wall Street, the news source said.

GM CFO Dan Ammann noted the larger trends that indicate growing demand from customers.

"We had revenue growth year over year; we have (market) share growth year over year… customers are obviously seeing the value of the vehicles that we have in the market," Ammann explained.

Overall, the automaker sold 2.2 million vehicles during the third quarter, with strong global demand for the Cruze compact and the popularity of small crossovers in the U.S. helping to lead the way, according to the news source.

Still, CNN Money reported CEO Dan Akerson said the better-than-anticipated quarter "isn't good enough." 

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