GM Loses As Car Sales Slow_经济Business
gm marques such as cadillac are losing ground to foreign rivals [phot]
flagging sales and the rising cost of employee healthcare pushed general motors to a net loss of $1.1bn (￡576m) in the first three months of 2005.
the world’s biggest carmaker warned in march it would drive deep into the red, but the loss - the worst since 1992 - is at the top end of its prediction.
in the same period last year, gm made a profit of $1.2bn.
the headline figure includes several one-off costs such as 12,000 layoffs in gm’s operations in europe.
its opel and saab units are having trouble turning a profit, while extricating itself from a deal which could have forced it to buy fiat is also hurting the company.
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flagging sales and the rising cost of employee healthcare pushed general motors to a net loss of $1.1bn (￡576m) in the first three months of 2005.
the world’s biggest carmaker warned in march it would drive deep into the red, but the loss - the worst since 1992 - is at the top end of its prediction.
in the same period last year, gm made a profit of $1.2bn.
the headline figure includes several one-off costs such as 12,000 layoffs in gm’s operations in europe.
its opel and saab units are having trouble turning a profit, while extricating itself from a deal which could have forced it to buy fiat is also hurting the company.
learn more from this article