GM Makes the Most of a Bad Business

The second quarter could have been much worse for General Motors. Yet the Detroit car maker most likely to give investors a lift this earnings season is, surprisingly, Ford. Lockdowns to control the new coronavirus made it the most difficult period for car sales in decades, and an even more difficult one for car production. GM said Wednesday that it delivered 62% fewer vehicles to dealers in its all-important North American market than in the same three months last year, thus generating 60% less revenue….

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