CHICAGO General Motors
Co.s first-quarter net income fell 13.8 percent to $865
million from slightly more than $1 billion in the same period
last year on sales that dropped 2.3 percent to $36.88
The Detroit-based automaker
experienced weaker revenues across the globe. North American
sales slipped 0.8 percent to $22.98 billion, European sales
fell 8.3 percent to $4.82 billion, South American sales were
down 4.6 percent to $3.69 billion and sales by the
companys international operations segmentthe
Asia-Pacific region, Eastern Europe, Africa and the Middle
Eastfell 3.9 percent to $4.82 billion.
North American retail sales
totaled 762,000 vehicles in the first quarter, up 8.2 percent
from 704,000 a year earlier, and GMs market share in
North America improved by 0.4 percentage point to 17.1 percent.
European retail sales fell 6.3 percent to 373,000 vehicles from
398,000, but its market share inched up 0.1 percentage point to
GM has added 4,000 employees in
North America since December, primarily due to the insourcing
of certain information technology support functions that
previously were provided by outside parties, but has cut 1,000
jobs in Europe over the same period.
"The year is off to a solid
start, as we increased our global share with strong new
products," chairman and chief executive officer Dan Akerson
said in a statement.
"In the automotive business,
outstanding product is what wins," said senior vice president
and chief financial officer Dan Ammann. "With more than 40 new
vehicle introductions this year globally, our focus will be on
flawless launches of the vehicles that will drive results this
year and into 2014."