General Motors (GM) announced widely differing results on opposite sides of the Atlantic, with strong growth in Europe offset by massive overall losses worldwide.

GM Europe posted record second-quarter sales of 590,000 units with 48% growth in Russia and a 19% increase to 137,000 units and record market share of 2.2% for Chevrolet-badged GM-Daewoo models.

Revenue rose to $10.6bn from $9.5bn in 2007 but reported pre-tax earnings fell to $20m from $315m. The strong performance in a tough market was overshadowed by General Motors global figures, as it posted a second quarter loss of $15.5bn – about £7.8bn - the third largest quarterly loss in the American giant's history.

Comments (0) »

Show/Hide comment form

Name

Email

Title

Comment

Write the displayed characters

Add Comment