GM posts quarterly net loss of 6 billion dollars

 GM posts quarterly net loss of 6 billion dollars Detroit  - Threatened US carmaker General Motors posted a quarterly net loss of 6 billion dollars on Thursday, its eighth quarterly loss in a row.

GM's loss figure for the same period in 2008 was 3.3 billion dollars. Analysts had feared even worse quarterly news this year.

Revenue dropped by 47 per cent, to 22.4 billion dollars. GM, the mother company of similarly struggling European manufacturer Opel, is operating under a US federal bail-out plan.

The largest US carmaker is threatened with bankruptcy, as has already happened to competitor Chrysler. US President Barack Obama has given GM an ultimatum of the end of May for a new restructuring plan to be implemented. (dpa)




Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate