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Update: General Motors Shifting Into Overdrive

On February 4, General Motors (GM) announced adjusted fourth quarter earnings of $1.19/share, blowing out consensus estimates of $0.83/share, as well as year-ago earnings of $0.67/share. The current quarter included a charge of $0.53/share related to "special items" compared to a charge in the year-ago period for special items of $0.10. GM's revenue of $39.6 billion, lagged estimates of $40.1 billion, as well as year-ago revenue of $40.5 billion. The Company, which has had 75 recalls, covering 30 million vehicles during 2014, did not have any major recalls in the quarter, though $874 million was added to the recall reserve. For the quarter, GM's US truck market share grew by 1.8 points to 24.9% while US car market share fell by 0.3 points to 13.4%. Worldwide, GM's market share was flat at 11.4%, with gains in China offset by declines in Europe and South America. North American pre-tax profit (EBIT)… Read More …