The 2014 Chevy Silverado Is Driving Big Profits for GM

The new Chevy Silverado is already boosting GM's bottom line. Photo credit: General Motors Co.

General Motors  (NYSE: GM  )  reported a strong profit on Wednesday on profitability gains in North America and ongoing improvements in Europe. Excluding some one-time items, GM's pre-tax profit was $2.6 million, ahead of Wall Street estimates and ahead of many expectations for the still-recovering Detroit giant.

A big part of that success came from GM's home region of North America. GM reported a pre-tax profit of $2.2 billion for the third quarter here in North America -- a big increase from the $1.7 billion it earned here a year ago.

The key difference between then and now? GM's new products are earning fatter profits, and none of those have been more important than its all-new Chevy Silverado and GMC Sierra pickups.

In fact, as Motley Fool contributor John Rosevear explains in this short video, those new pickups have already put GM close to a profit goal that Wall Street wasn't expecting the company to meet for a few years yet -- and that sent shares soaring on Wednesday. Watch the video for the full story.

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  • Report this Comment On November 02, 2013, at 10:04 AM, Kendall wrote:

    Why would anyone buy a product from a company that cost the American taxpayer $9.7 Billion dollars? I have owned GM products in the past, but never again.

  • Report this Comment On November 02, 2013, at 11:08 AM, Anon79 wrote:

    Why would any taxpayer not support an American company? That is Anti American. Every country that has a car company owns part of it except the Americans. Would you rather have GM and the thousands of jobs vanish and the unemployment go up? Same with Dodge and Ford. And don't get me started on how ford never received money like many sheep think. Quite frankley i'm tired of people being so anti american just because the government bails someone out, you fail to realize the positive effects it has. Sometimes its not all about the money. What's funny is Bush and Obama agreed on something and the people of both parties still cry about it. Listen if you want to be anti american it's simple. Dont live here.

  • Report this Comment On November 02, 2013, at 11:29 AM, americnhrlygrl wrote:

    I completely agree with you Anon79, Ford received bail out money as well. They just didn't need it. So the only thing the media spoke of was how Chevrolet was hurting and was close to bankruptcy. Chevrolet has paid their money back and now turning a profit. I'm gonna pay taxes no matter what. I'm proud to be an American, even with a higher fee. I won't forget the truck that got, my @ss back and forth to work for me.

  • Report this Comment On November 02, 2013, at 2:11 PM, stevenatorr wrote:

    Not to mention the $$ ford borrowed from the energy commission and the $5 billion credit line they received from the government. GM debt ratio is .6% compared to fords 5.8%. GM has paid all debts. only thing the government has is GM stocks. ford and chrysler has not yet paid on all the loans. Mazda is the only thing keeping ford floating. the jocus/fiesta and many other fords are mazda engines/trans etc. My uncle works for GM and they where not even close to filing bankruptcy nor needed the $$. Its no different than you going to check n go to borrow $. And Kendall if you are not gonna buy a auto cuz they borrowed $$ then you will be car less. quit being a hypocrite. I will always own GM and nothing else. GM is the most american auto you can buy. FACT: GM is 85% min american. ford is at most 65% american.

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