GM gives robust '17 profit forecast, lifting shares

By Nick Carey
DETROIT (Reuters) – No. 1 U.S. automaker General Motors Co on Tuesday gave an upbeat profit outlook for 2017 that was significantly above Wall Street forecasts, countering analysts’ concerns that the U.S. car industry peaked in 2016 after several years of record or near-record sales, sending its shares up more than 5 percent.
GM said it expects its earnings for 2016 at the high end of its previous forecast and that profits will rise 2017.
“We see from a (U.S.) ma