GM boosts outlook as sales in US fuel strong first quarter

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Strong U.S. sales helped General Motors increase its first-quarter net profit 19% over a year ago, leading the company to raise its full-year earnings guidance on expectations that people will keep buying new vehicles. The Detroit automaker said Tuesday that it made $2.37 billion from January through March, up from $1.99 billion a year ago. Excluding a $900 million charge for severance packages that went to about 3,000 white-collar workers who took buyouts during the quarter, GM made $2.21 per share. That soundly beat analysts’ estimates of $1.72 a share.