General Motors has recorded a $1.3 billion (£835 million) profit in the second quarter of 2010.
It is the second successive quarter of profitability at GM; its first-quarter profits were $865m (£555m).
GM’s North American division posted a $1.6bn (£1.03bn) profit in the quarter before taxes and interest – a $400m (£250m) increase over the previous quarter – while pre-tax and interest losses were reduced in GM’s European division from $300m (£190m) to $200m (£130m) in the second quarter.
GM’s International Operations recorded a before taxes and interest profit of $700m (£450m), down from the $1.2bn (£770m) profit in the previous quarter.
Chris Liddell, GM’s vice chairman and chief financial officer, said, “I am pleased with our progress on achieving our business objectives. We have delivered strong product, maintained cost discipline, progressed strategic initiatives, such as restructuring Europe and acquiring AmeriCredit, and delivered two consecutive quarters of profitability and positive cash flow.”