DETROIT -- General Motors' strength in North America forestalled red ink despite heavy European losses in the first quarter.
GM posted net income of $228 million on sales of $46.3 billion during that period.
GM sold 652,078 light trucks in the United States during the quarter, compared with 581,547 in 2001.
"In terms of profit year-to-year, obviously the volume and mix in North America were the main drivers," CFO John Devine said.
General Motors Acceptance Corp. had net income of $439 million, up from $431 million in the first quarter of 2001 despite lower earnings from auto lending.
GM raised its earnings forecast to $5 per share, excluding its Hughes subsidiary, up from $3.50, Devine said.
GM's profits took a major hit from a $407 million restructuring cost as part of its Project Olympia for Adam Opel AG, its German subsidiary.
Project Olympia's goal is to turn around Opel by 2003.
The project's charge for cutbacks includes: $189 million for employee severance, $149 million for asset writedowns and $69 million for dealer network restructuring.
GM's U.S. market share dropped from 28.4 percent last year to 28.3 percent for this year's quarter. Its light-truck share rose from 28 percent to 31.4 percent, but car share fell from 28.9 percent to 24.7 percent.
GM Europe lost $125 million in the quarter, excluding the Opel restructuring charge.
GM Asia Pacific earned a profit of $7 million, while GM Latin America/Africa/Middle East recorded a loss of $40 million.