General Motors Company (GM) forecast Wednesday that its 2015 operating profit will increase from last year mostly due to growth in its two biggest auto markets, China and the United States.
As the biggest U.S. automaker moves past a year marred by massive recalls from a defective ignition switch linked to at least 45 deaths, GM said modest growth in global vehicle sales in 2015 will help the company post improved results in all of its regions.
The automaker also said it remained on track for 2016 targets, including 10-percent profit margins in North America and a return to profits in Europe.
In 2014, Mary Barra’s first as chief executive, GM dealt with the recall of 2.6 million cars because of the faulty switch that led to several investigations and lawsuits.
GM, which also affirmed its plan to achieve 9- to 10-percent profit margins by early next decade, will increase its capital spending plans this year by 20 percent to about $9 billion.