GM's 2017 profit forecast exceeds analysts'

Southfield, Michigan

GENERAL Motors Co (GM) predicted profit will rise more than analysts estimate in 2017 after meeting the high end of last year's targets, enabling the largest US carmaker to buy back an additional US$5 billion in shares.

Net income should increase to between US$6 and US$6.50 a share for 2017, chief executive officer Mary Barra said on Tuesday at an analyst conference in Detroit. GM met the top of its guidance for 2016, which was US$6 a share, and growth in the US and China will boost results going forward, she said. The company's stock rose.