January 10, 2017 / 6:11 PM / 7 months ago

GM gives robust '17 EPS outlook, sees '16 EPS at high end of range

DETROIT, Jan 10 (Reuters) - No. 1 U.S. automaker General Motors Co on Tuesday gave an upbeat profit outlook for 2017 that ran contrary to widespread analyst concerns that the country's car industry peaked in 2016 after several years of record or near-record sales.

GM said it expects its 2016 earnings to come in at the high end of its previous forecast and said profits will rise 2017.

The company also announced a $5 billion increase to its share buyback program and additional planned cost savings of $1 billion. (Reporting By Nick Carey; Editing by Nick Zieminski)

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