Truck, SUV profits push GM 1Q profit 8 times above year ago

April 23, 2015 12:37 PM

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First-quarter profit at General Motors rose nearly eight times above a year ago as U.S. consumers spent big on pickups and SUVs and the company didn't have to set aside a huge stack of money to pay for recalls.

The Detroit automaker said it made $945 million, as consumers got used to lower gasoline prices and decided to buy bigger vehicles. That's right in GM's sweet spot, with trucks such as the Chevrolet Silverado pickup and Cadillac Escalade large SUV. Profit margins on the trucks are sizeable, with ana...

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