GM aims to widen its profit margin to 10% over the next several years
By Andrew, 08 Feb, 2012. 0 Comments
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Daniel Ammann, the chief financial officer of General Motors, said that the company aims to widen its profit margin to 10% over the next several years, higher than its current margin of about 6%, according to an interview he did with The Wall Street Journal. If GM reaches its target of 10% margin, it could then generate as much as $15 billion in profits and record net income in excess of $10 billion. This is based on the level of revenue GM had in 2011. The newspaper said that its revenue is expected to become nearly $150 billion. The Journal stated that the income calculations were confirmed by GM. In addition, GM is likely to post a 2011 net income of around $8 billion when it releases its higher results ever on February 16. The sources said that this is due to the growth in China and strong profits in North America. GM took back its title as the top-selling automaker in 2011 in the world. This is less than three years after its 2009 taxpayer-funded bankruptcy under the Obama administration.
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