General Motors posts $15.5 billion quarterly loss
August 1st, 2008 Leave a comment Visited 19 times, 1 so far today
General Motors posts $15.5 billion quarterly loss
US based automaker GM has posted a massive loss of $15.5 billion in its most recent quarter.
The company said that their North American sales dropped by 20 percent.
GM also suffered from falling sales of their SUVs and trucks.
The losses come to around $27.33 per share. This is a major drop compared to profits of $891 million, or $1.56 per share a year earlier in the same period.
The company added that they took in $9.1 billion in charges for the second quarter. The revenues were also down from $46.7 billion to $38.2 billion.
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