US automaker General Motors saw profits more than double in the first quarter, but said Tuesday that lower sales in China and North America ate into total revenues. GM has been projecting auto sales in China to hold steady in 2019 compared to 2018, despite an economic slowdown that has dented auto demand. While there are expectations that government stimulus will help spur a recovery in the Chinese market, "we have yet to see that translate into auto demand," said Chief Financial Officer Dhivya Suryadevara.
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