GM estimated its pretax profit margin should rise from 8% to 10% in the next three or four years. It also said it believes global auto sales will grow modestly this year, supported by sales growth in the U.S. and China while European car sales decline.
According to Chief Financial Officer Dam Ammann, GM is rolling out more new vehicles around the world than at any other time in the company's history. It is targeting its two largest markets, the U.S. and China. Amman said the automaker will have to absorb the costs of putting out the 25 new vehicles it plans to launch.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.
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