GM losses deepen in 4Q
Written on February 27, 2009
On an earnings per share basis, the losses were $15.71 and $53.32, respectively.
The Detroit carmaker (NYSE: GM) is working with the U.S. government on a funding plan to remain in business as sales continue to fall to record lows worldwide.
Global sales in 2008 were down 5 percent, or 3 payday loans for bad credit.6 million vehicles, compared to 2007 levels, and in the U.S., sales fell by 18 percent, or nearly 3 million units.
GM said fourth-quarter revenue was $30.8 billion, down from $46.8 billion, year-over-year. Total revenue in 2008 was $149 billion, compared with $180 billion in 2007. GM’s core automotive business generated revenue of $148 billion in 2008, down from $178 billion in 2007.
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