News
A Quarterly Loss Was Reported By General Motors
General Motors posted a loss of $3 billion in the final quarter of last year, after posting a $2.1 billion profit in the same period a year earlier.
The result was worsened by the restructuring of the Chinese company SAIC General Motors Corporation.
The restructuring of SAIC General Motors Corporation included cost and inventory cuts. As a result, General Motors lost about $4 billion, according to the French news agency AFP.
His business was successful in the last quarter of last year. The company achieved higher car sales in the domestic market, where prices remained high. Revenues rose 11 percent to $47.7 billion.
General Motors forecast earnings of between $11 and $12 a share for the year, above analysts’ expectations, and said it would adjust its production of electric vehicles to meet demand.
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