Article: GM reports strong profit, mostly from mortgages.(Knight Ridder Newspapers)

Byline: Jeffrey McCracken

General Motors Corp. once again made little on the sale of new cars and trucks but reported stronger-than-expected profits Wednesday, due to another strong quarter of refinancing mortgages at its GMAC financial unit.

GM was upbeat about the rest of the year, saying new-vehicle incentives tailed off last quarter and could be a sign of an improving economy. GM raised slightly its full-year earnings projection.

It also said it could narrow its $19.3 billion pension deficit to about $8 billion at year's end due to billions it contributed to its pensions the last two months, plus a strong return on its fund's investments so ...

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