July 29, 2020

General Motors reports $758 mn Q2 loss on lower car sales

New York (AFP) – General Motors reported a smaller-than-expected loss Wednesday as strong pricing for some newer auto models partially mitigated the hit from much lower sales amid the coronavirus pandemic.The big US automaker lost $758 million in the second quarter, compared with a $2.4 billion profit in the year-ago period. The company described the results as “solid” amid the pandemic, and said steps it had taken to cut costs meant the automaker was well-positioned to weather the storm.GM said some of the austerity measures, which included worker furloughs, would become permanent.”We have a …

source https://this.kiji.is/en/661198902505571425?c=648607265489716321

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