Shares of General Motors (NYSE: GM) are up 5.6% in premarket trading Thursday after the company reported much better earnings compared to Street’s expectations.

Adjusted EPS came in at $2.83 per share to blow past $1.38 expected from the market analysts. Revenue was reported at $35.48 billion vs $35.51 expected.

“This year, and the third quarter, is a testament to GM’s resilience. We entered the pandemic in a strong position and acted decisively to keep our teams safe, conserve cash and preserve liquidity, all while keeping our critical product programs on track. Now we are well positioned to meet rising customer demand, accelerate our transformation and deliver our vision of a world with zero crashes, zero emissions and zero congestion,” Mary Barra, Chairman & CEO, said in a statement.

Revenue of North American operations soared 44% to $4.37 billion despite U.S. sales tumbling 9.9% during the period. Net income erupted as much as 74% to $4.05 billion from $2.35 billion posted a year ago.

GM recorded strong demand for its full-size pickups and SUVs and a faster-than-expected recovery in the U.S and China.

“Sales in the U.S. and China are recovering faster than many people expected, and GM is benefiting from robust customer demand for our new vehicles and services, especially our full-size pickups and SUVs. These strong fundamentals and the positive impact of our transformation and austerity measures are helping us to deliver solid earnings, generate significant cash and quickly repay the debt we incurred during the early days of the pandemic,” said John Stapleton, Interim CFO.

GM said it repaid $5.2 billion of its revolving credit facilities during the third quarter, in addition to $3.9 billion in October. Automotive liquidity at the end of the Q3 stood at $37.8 billion.

GM share price jumped 5.6% in premarket trading to trade at $37.22.