A series of worse than expected losses among car-makers has highlighted the automotive industry's struggle with a rapid change in market conditions.
The world's largest car-maker, General Motors, says its losses widened to 15.5 billion dollars in the second quarter of this year. At the same time last year it posted a profit of nearly 900 million dollars. GM said the costs of a massive restructuring plan to cope with the downturn in the US auto market were mostly to blame for the company's third largest quarterly loss 'Bankruptcy' fear hits GM shares ...
GM US sales beat Toyota in June ...
Auto Industry Faces Challenge in Mass-Producing Electric Cars ...
Ebadi calls on media to foster peace ...
US dealer says buy a car, get a gun for free ... in history. Meanwhile, German luxury car-maker BMW has announced a sharp 35 percent drop in quarterly profits, also due to deteriorating US conditions. Japan's giant Nissan motor company said on Friday its second quarter profits dropped by nearly 43 percent mainly on the back of the rising yen.
(Deutsche Welle)
more info >>
<< Back