GM turns full-year profit despite strike, slumping sales

National and World

The company made $8.2 billion before taxes in North America for the full year

General Motors

Courtesy: The Associated Press

DETROIT (AP) – General Motors made money last year despite a 40-day strike by factory workers and slumping sales in the U.S. and China.

The company posted a $6.58 billion profit for the year, down almost 17% from 2018.

The labor turmoil did lead to some red ink the fourth quarter. The automaker lost $232 million, or 16 cents per share. Excluding one-time items for employee separations and the sale of a Chinese joint venture, GM made 5 cents per share. That soundly beat Wall Street estimates of a penny per share.

The company made $8.2 billion before taxes in North America for the full year.

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