News In Brief

GM's quarterly profit at record $737 million

General Motors said Monday it earned a record $737 million profit in the third quarter, surpassing the old third-quarter record of $528 million set in 1978. The GM profit works out to $2.33 per share of common stock. GM said the record profit is due to increased sales of 1983 model cars and trucks, low dealer inventories, an early strong performance of its new 1984 models, and a record income by its General Motors Acceptance Corporation financing arm.