General Motors Reports Jump in Profits on Strong Sales

General Motors Reports Jump in Profits on Strong Sales
A pair of unsold 2022 Bolt electric vehicles sit outside a Chevrolet dealership in Englewood, Colo., on Sept. 12, 2021. David Zalubowski/AP Photo
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General Motors has registered a strong third-quarter 2022 performance, hitting record revenue and double-digit growth in earnings before interest and taxes-adjusted margins.

Net income for the quarter ended September 2022 was $3.3 billion, up by $885 million from $2.42 billion in September 2021, financial data from the company show. Revenues were at $41.89 billion, up by more than $15 billion from $26.78 billion a year back. EBIT-adjusted margins jumped from $2.82 billion to $4.29 billion, an increase of more than 52 percent.