General Motors Co. reported a $292 million net profit in the first quarter, despite a big hit from Covid-19 fallout, as strong pickup-trucks sales and restructuring before the crisis helped it avoid quarterly losses suffered by its Detroit rivals. GM said on Wednesday its pretax profit, excluding one-time items, was $1.25 billion for the first quarter, down 46% from the previous-year period. The company cited a $1.4 billion impact from the pandemic, which forced the closure of factories in China for much of the quarter,...

Source: Wall Street Journal May 06, 2020 12:22 UTC