DETROIT – General Motors’ profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall.
The Detroit automaker said Wednesday it made $6.43 billion as demand for its vehicles surged late in a year dominated by coronavirus upheaval. In the fourth quarter, the company made $2.85 billion.
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The United Auto Workers union called this profit a “testament” to its membership in a statement released Wednesday morning:
“Despite a year of a pandemic and loss of production in 2020, General Motors reported a solid profit for North America. This is a testament to our UAW-GM Membership, who produce some of the finest and most sought-after vehicles in the world, right here in the U.S.A.”
Last year: GM churns out profit in 2019 despite strike, slumping sales