VIENNA, Austria (AP) - A General Motors Corp. executive said Thursday that the automaker will post good results for the second quarter.
''At GM, the turnaround is progressing ... you'll see a good second quarter,'' Bo Andersson, vice president of global purchasing and supply for the Detroit-based carmaker, said during a speech at the Automotive News Europe congress. He didn't elaborate. But he said in an effort to improve ''the ratio between revenues and costs'' he was hoping to improve the company's supply chain. However, he noted that focusing the supply chain solely on low-cost Asian countries ''isn't a solution'' as exports to North America or Europe cause a premium of 10 percent in transportation costs.GM posted a first-quarter profit of $445 million, ending a five-quarter streak of losses. Last year, the world's biggest automaker saw a turbulent year with decreasing market share and an unfavorable cost structure resulting in a $10.6 billion loss.
GM hasn't provided earnings guidance since last April.