PROFITS at General Motors Europe, which includes Vauxhall, dropped in the third quarter of 1999 as sales volumes dipped, although market share increased to 10% from 9.7% in the third quarter last year. However, the slip in profits in Europe was offset by strong year-on-year increases in GM North America and General Motors Acceptance Corporation, which bought UK-based Arrive Automotive Solutions earlier this year.

As a result General Motors reported record third quarter revenues of $42.8 billion resulting in profits of $877 million. That compares with a strike-impacted net loss in the third quarter last year of $309 million.