Carmaker General Motors reported a 945 million profit for the first quarter, but fell short of analysts' forecasts. Such a result is due to the negative effect of exchange rate changes, as well as weak results in South America. The company's revenue fell by 4.5% to 35.7 billion. Negative developments in South America, Europe and Russia have reduced revenues by $ 1.8 billion. General Motors announced the launch of a program to repurchase shares for $ 5 billion. We expect continued success of the company in North America and China, and forecast growth of quotations by 15-20% per year.