GM Reports 24% Rise in Profits

General Motors Corp. today reported third-quarter profits 24% above those of a year ago but said gains were reduced by the cost of offering special low-interest financing to promote sales late in the period.

GM, the nation’s largest auto maker, said its net income totaled $516.5 million, or $1.46 per share of common stock, in the three months ending Sept. 30, compared to $416.8 million, or $1.31 per share, in the earlier period.