GM posts $3.25 billion loss in Q1
4/30/08, 10:57 AM
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Serbian Steamer
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4/30/08, 11:56 AM
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But I thought GM was doing everything that enthusiasts on the internet said they should do:
But who had a loss in Q1 and who had a 100 Million net income? It's funny how things work out.
- Put a new high performance RWD 4 door sedan on the market? CHECK
- Brought over "hot hatch" from Europe? CHECK
- Turned their old folks' luxury brand into a high performance/luxury brand to compete with BMW? CHECK
But who had a loss in Q1 and who had a 100 Million net income? It's funny how things work out.
Last edited by Vermillion06; 4/30/08 at 01:09 PM.
4/30/08, 12:23 PM
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"$1.45 billion hit from its 49% stake in floundering GMAC. The two-month long American Axle strike also cost GM about $800 million, while further support of bankrupt supplier Delphi's restructuring took $731 million from the corporate coffers."
They're taking most of the damage from the mortgage unit GMAC & DiTech (I worked there a while back). Car-wise they're coming along.
They're taking most of the damage from the mortgage unit GMAC & DiTech (I worked there a while back). Car-wise they're coming along.
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