General Motors post losses in domestic market

General Motors post losses in domestic market

General Motors has now posted a fourth-quarter loss in the US market. The company however continues to show improvement in their overseas performance.

The company continues to work on their plans to enhance sales and profits internationally while cutting cost in their US operations.

Market analyst Pete Hastings spoke about GM performance: “Wagoner is doing the right things; he’s just doing them at a time when the economy might be masking some of the favorable benefits from his actions.”

The company has also announced buyouts to speed the hiring of lower-paid new workers in the US market.

GM Chief Financial Officer Fritz Henderson had this to say on their performance: “It was a tough quarter in North America. Volumes were down, and there was tougher pricing because we had a full incentive load for our pickups.”