You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

1

2

Final

General Motors narrows its loss in Europe

Results for Europe suggest GM’s cost cuts are starting to offset declining industrywide sales.

Orlin Wagner /Associated Press/File 2013

Results for Europe suggest GM’s cost cuts are starting to offset declining industrywide sales.

DETROIT — General Motors, after losing more than $18 billion in Europe since 1999, narrowed its first-quarter loss in the region, helping it beat analysts’ estimates.

GM’s European adjusted loss before interest and taxes was $175 million, versus $294 million a year earlier. Companywide profit excluding one-time items was 67 cents a share, exceeding the 54-cent average of 16 estimates compiled by Bloomberg.

Continue reading below

The results in Europe suggest GM’s cost cuts are starting to offset declining industrywide sales, which are heading toward 20-year lows.

The largest US automaker in the fourth quarter took a $5.2 billion write-down of ­European assets to reflect tougher conditions.

GM’s first-quarter net income fell to $1.18 billion, from $1.32 billion a year earlier. Revenue was $36.9 billion, beating the $36.6 billion average of eight analysts’ estimates.

Profit in North America before interest and taxes slipped to $1.41 billion from $1.64 billion a year earlier.

GM is rolling out about 20 new or refreshed vehicles in the United States this year.

Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com