GM posts a US$15.5B loss for the second quarter

GM posts a US$15.5B loss for the second quarter

With Ford having recently posted its worst Q2 loss ever, it seems that GM is following suit with a $15.5B (NZ$21.3B) loss; nearly double the Ford loss.

Predictably, and as is the case with Ford, the General only has itself to blame for the loss with over production of large SUVs accounting for an overall drop in revenue by 18%. Add to this the cost to GM from striking workers and settlements thereof and the payouts to workers (around 24,000) who have been laid-off.

The future looks grim for GM, especially so since smaller models are still a ways off yet.

With Ford having recently posted its worst Q2 loss ever, it seems that GM is following suit with a $15.5B (NZ$21.3B) loss; nearly double the Ford loss.

Predictably, and as is the case with Ford, the General only has itself to blame for the loss with over production of large SUVs accounting for an overall drop in revenue by 18%. Add to this the cost to GM from striking workers and settlements thereof and the payouts to workers (around 24,000) who have been laid-off.

The future looks grim for GM, especially so since smaller models are still a ways off yet.

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