GM: US truck sales drive up profit

BIG profits from rising SUV and truck sales in North America helped General Motors (GM) nearly double its third-quarter net profit and more than offset its struggles in Europe and South America. The car maker posted net income of $1.38 billion (R15.2bn), or 81c a share. In the same previous period, GM made $698 million, or 45c a share. The September quarter was the first this year without significant charges for recalls. GM has issued 75 recalls this year covering more than 30 million vehicles, costing the company more than $2.8bn. Without $331m in one-time items, GM would have made 97c a share. Revenue grew 2 percent to $39.25bn, above expectations of $38.79bn. GM shares rose more than 2 percent in early trading. – Sapa-AP