General Motors sees 2nd-quarter profits rise 15%

DETROIT, Michigan: General Motors (GM) reported a 15 percent rise in second-quarter profits, driven by U.S. customers paying an average of just under US$49,900 for new vehicles.

Despite industry analysts predicting growing inventories and increased discounts, GM Chief Financial Officer Paul Jacobson indicated that the company does not foresee significant price cuts.

GM earned $2.92 billion from April thr