General Motors leads automakers back onto the road to profits
Up. That word has not been used around Detroit much since 1978, at least not when the subject was profits. Recession, imports, high interest rates and public disenchantment have battered U.S. automakers and their products. But better times have finally arrived—and in a very big way. General Motors, the world's largest carmaker, last week reported profits of $3.7 billion for 1983, almost four times the 1982 total. Ford and Chrysler will also report handsome earnings. When all the tallying is done, Detroit's Big Three will show profits of about...
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