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Truck Sales Have GM and Its Managers Rolling In Dough


Gorehamj
  • John Goreham
    Contributing Writer, GM-Trucks.com
    4/25/2016
    Late last week General Motors fiscal quarter-end numbers were released, and the General is raking in the profits from expensive, high-end trucks. Even though unit sales have started to level off or decline in the U.S. and China, GM's two strongest markets for sales, the company doubled its profits compared to the same quarter last year. GM's $1.95 million in profits for the quarter set a company record. This according to the Wall St. Journal. The climb in profits is credited to selling a higher percentage of pricey trucks and full-size SUVs.

Individual managers at the company are also doing well. Mary Barra, the CEO of GM, is now compensated at a rate of about $28.6 million per year according to the Detroit Free Press. Although the rank and file union members that build GM's vehicles ( for the most part) have also benefitted from profit sharing bonuses, Barra now earns about the equivalent of 356 union members (making, say $80K per year). As a point of comparison, Akio Toyoda, the CEO of Toyota (global) takes home the equivalent of roughly two to three million U.S. dollars per year according to multiple sources, and has for some time. Are you surprised that GM's top executive makes ten times what Toyota's does?


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