Thanks to strong demand for its trucks and SUV’s, GM has reported a record net income of $2.61 billion in its first quarter. Earnings per share, a key indicator for Wall Street, topped expectations totaling $1.70 and well above the forecast of $1.48 a share. Here in North America, GM said revenue rose 10.7 percent to $29.3 billon.
“Our first-quarter results reflect our resolve to grow profitably and demonstrate the strong earnings power of this company. More importantly, we advanced our strategic plan to transform GM for the long term and unlock more value for our shareholders,” said Mary Barra, Chairman & CEO. In pre-market trading this morning, GM shares were up about one half percent.
With the cost of the Takata airbag recall behind it, Honda reported a quarterly profit, but was less than optimistic looking forward. Honda said profits for the full fiscal year may disappoint due to one-time pension expenses and foreign currency exchange rates.
Quarterly profits rose at Volvo by 11 percent, but fell 56 percent at Mazda due to lower sales, currency exchange rates and recalls.
Sales of Certified Pre-Owned vehicles hit a record high at Kia in the first quarter led by the Sedona minivan. Sales rose 17 percent compared to the first quarter of 2016.
Drivers in the Northeast tend to speed the most, while also using their cell phones, a disastrous recipe for fender benders or worse. Alternatively, drivers in states located in the West and Midwest most closely adhere to driving laws, coming in as the safest drivers in the nation, according to a study from online insurance company EverQuote.
Best Driving States:
1. Montana – overall safe driving score of 90
2. Wyoming – overall safe driving score of 89
3. Alaska – overall safe driving score of 88
4. South Dakota – overall safe driving score of 87
5. North Dakota – overall safe driving score of 87
Worst Driving States:
50. Rhode Island – overall safe driving score of 70
49. Connecticut – overall safe driving score of 71
48. Pennsylvania – overall safe driving score of 73
47. New Jersey – overall safe driving score of 73
46. New Hampshire – overall safe driving score of 74
Rhode Island drivers exceeded the speed limit on more than half of all trips taken (57%), used a phone on 38% of trips and went hard on the brake during 29% of trips.
Montana drivers most closely follow the rules of the road, the survey said, where speeding occurred only on 17 percent of drive whiles hard turns and risky acceleration occurred on just 10 percent of drives.