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MONEYTALK: GM $15.5bn loss
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by SOLARLIFE | August 1, 2008 at 07:40 am
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The credit crises, the petrol $4/Gln GM Sales down on record high. Pick-up trucks almost not to sell. New fuel efficient cars, german daughter Opel still doing well.
New Hybrid, electric, Hydrogen cars under high pressure development. For sure the
Cashback sales $2000 per car start to backfire on the results too.
DETROIT -- General Motors Corp. recorded a stunning $15.5 billion second-quarter net loss, slammed by sinking auto sales, money lost on bad lease deals and costs tied to its North American restructuring.
The auto maker's revenue sank $8.5 billion from a year ago to $38.2 billion, as GM's sales slide in the U.S. continued and growth slowed in other regions around the globe.
Most RecentMost Recommended Comments (3)
at 07:58 on August 1st, 2008
SOLARLIFE, I like this story. It's good stuff.
Why Toyota is now # 1!
at 08:06 on August 1st, 2008
Hi , Paschen, Toyota # 1, Gm $15bn loss, Toyota took the risk to sell the prius hybrid in 1995 in the US, they had no fear to endanger their selection; the lexus hybrid a masterpiece of smoth ride, Mercedes far behind too, Diesel will never sell in the US, being more expensive than gas. We see the economy getting a new world order.
at 08:14 on August 1st, 2008
Mercedes has Hydrogen powered cars though and Hybrid even though a good move is just a transition it wound stay!