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2 years after IPO, GM is piling up cash

November 17, 2012 • Business


FILE – This Feb. 19, 2012 file photo shows the familiar Chevrolet bowtie logo displayed on the grille of a 2012 Cruze sedan, foreground, with a 2012 Sonic sedan in the background at a Chevrolet dealership in the south Denver suburb of Englewood, Colo. Sunday, Nov. 18, 2012, marks the anniversary of GM’s initial public stock offering in November 2010. The company has made money for 11 straight quarters, piling up more than $16 billion in profits. Its cars and trucks are selling for good prices. And sales are strong in China. (AP Photo/David Zalubowski, File)

DETROIT (AP) — Two years after a wounded General Motors returned to the stock market, the symbol of American industrial might is thriving again.

Sunday marks the anniversary of GM’s initial public stock offering in November 2010. The company has made money for 11 straight quarters, piling up more than $16 billion in profits. Its cars and trucks are selling for good prices. And sales are strong in China.

But there are signs of trouble. GM’s U.S. sales, the prime driver of its profits, aren’t rising as quickly as the overall market. There’s been turmoil in the executive ranks, and the company is hemorrhaging cash in Europe.

Since the IPO, here are GM’s achievements, struggles and question marks.

ACHIEVEMENTS:

BIG PROFITS: GM is making money — nearly $4 billion so far this year. Most of that came from the U.S., where GM cars and trucks are selling for almost 6 percent more than they did in January of 2011. The average selling price is $32,662, says the TrueCar.com auto pricing site. GM also is making good money in China and the rest of Asia, and it has turned around its money-losing South American operations with a host of new products.

BETTER CARS: Before its 2009 bankruptcy, GM relied on trucks and SUVs to make money. Cars were an afterthought, and GM got a reputation for poor Login to read more

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