General Motors, or GM, had a really good quarter. They did better than what Wall Street thought they would do. They also said they’ll make even more money this year than they thought.
The company is based in Michigan. They make cars and trucks.
Paul Jacobson, who is the boss of money at GM, said that people are still buying cars even though interest rates are higher.
In the first three months of this year, GM made $3 billion in profit. That’s more than they made last year. They also made more money from selling cars. They made $43 billion in sales.
GM makes a lot of money from selling trucks and SUVs. Even though they are not making as many electric cars as they thought they would, they are still doing well.
GM also said they will make more electric cars in the future. They are working on making better batteries for them.
But GM also has some problems. They are not selling as many cars in China as they used to. They are also having trouble with a project called Cruise, which makes self-driving cars.
Despite these problems, GM is still doing okay. They are buying back some of their own stock. This means they are giving money to people who own their stock so they can have fewer shares.
