DETROIT — Despite a decline in U.S. sales and financial struggles within a previously reliable joint venture in China, General Motors declared a third-quarter profit of $3 billion on Tuesday, marking a slight decrease compared to the previous year.

For the period spanning July to September, the automaker’s revenue reached $48.8 billion, reflecting a 10% increase from last year. This growth was bolstered by steady average vehicle prices in the United States, which remained above $49,000, similar to the previous quarter.

Chief Financial Officer Paul Jacobson explained that while GM experienced a 2.2% drop in overall sales within the U.S., their most lucrative market, a significant portion of this decline stemmed from lower sales to large fleet buyers. However, sales to individual consumers—a group that typically offers higher profit margins—actually increased by 3%.

Jacobson also noted that unlike competitors who face challenges with excess inventory of high-priced vehicles in a shifting consumer market, GM has not encountered a similar predicament. He emphasized the resilience of their customer base, stating, “I think that the consumer has held up remarkably well for us.” Additionally, he forecasted that the upcoming year would remain consistent with current trends, particularly as the Federal Reserve continues to implement interest rate reductions and lower borrowing expenses. “Nothing that we’ve seen has changed from where we’ve been the last several quarters,” he added.