GM earn $3.2B in 1Q

[daisylu]

it's highest profit in more than a decade:

finance.yahoo.com/news/GM-Cruzes-to-firstquarter-apf-9884883.html?x=0

It's the biggest example of GM's strategy to build better small cars, a market it ceded to the Japanese for years. While trucks and SUVs still provide much of its profit, GM is banking that higher fuel prices will drive customers toward smaller models. The company plans to launch its first compact Buick and the subcompact Chevrolet Sonic later in the year.

The strategy is showing signs of paying off. GM reported its best profit in more than a decade on Thursday. As gas prices marched toward $4 in the first quarter, the Cruze and crossovers like the Chevy Equinox helped GM earn $3.2 billion.

By contrast, it lost $4.4 billion in the summer of 2008, when gas prices last spiked over $4 and the company had a paltry selection of cars with good gas mileage.