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The No. 1 U.S. automakerGeneral MotorsCo posted a quarterly net loss on Tuesday caused by charges related to the sale of its Opel unit in Europe to France’s PSA Group , but excluding the charges the results beat analysts’ expectations.
Detroit-based GM posted a third-quarter net loss of $2.98 billion, or $2.03 per share, compared with a profit of $2.77 billion, or $1.71 per share a year earlier. Excluding one-time charges, the company earned $1.32 a share, above analyst expectations of $1.14.
GM shares gained 3% premarket.
“With an aggressive vehicle launch cadence through the fourth quarter and an ongoing intense focus on costs, we project strong results through the end of the year,” the company said in a statement.