US car manufacturers lose billions so far in 2005
Date: Sunday, April 24, 2005 @ 00:05:36 GMT
Topic: General


GM loses $1.1bn as car sales slow

Flagging sales and the rising cost of employee healthcare pushed General Motors to a net loss of $1.1bn (£576m) in the first three months of 2005.

The world's biggest car maker warned in March it would drive deep into the red, but the loss - the worst since 1992 - is at the top end of its prediction.

In the same period last year, GM made a profit of $1.2bn.

The headline figure includes several one-off costs such as 12,000 layoffs in GM's operations in Europe...

Source: http://news.bbc.co.uk/1/hi/business/4460891.stm

Ford sees profits fall to $1.2bn

US car giant Ford Motor saw its profits fall almost 40% in the first quarter, as falling US sales and rising prices for raw materials ate into margins.

The company said its net profit was $1.21bn (£630m), on sales of $45.1bn...


Source: http://news.bbc.co.uk/1/hi/business/4464743.stm





This article comes from ZPEnergy.com
http://www.zpenergy.com

The URL for this story is:
http://www.zpenergy.com/modules.php?name=News&file=article&sid=1295