General Motors continues recovery

General Motors has announced its sixth consecutive profitable quarter. Revenue increased by $6.2 billion to $39.4 billion and earnings before interest and tax (EBIT) was $3.0 billion.

Chairman and CEO Dan Akerson said “GM’s investments in fuel economy, design and quality are paying off around the world as our global market share, growth and financial results bear out.” Her also anticipates further growth as GM roll out new products this year including the Opel Zafira in Europe, the Baojun 630 in China and the Chevrolet Sonic in North America.

GM expects that EBIT adjusted results for the second half of 2011 to be modestly lower than the first half but still show considerable improvement over 2010.

Dan Ammann, senior vice president and CFO said: “our earnings and cash flow are solid and we’re going to keep working on the fundamentals of strong brands, great products and operating leverage to create profitable growth around the world.”