Loading…
Thursday, December 25, 2014
Current Weather
Loading Current Weather....
Published: Friday, 7/26/2013

GM net income falls 19%, Asia is blamed

DETROIT — General Motors Co., the nation’s largest automaker, reported that its net income fell 19 percent in the second quarter, mostly because of a sharp drop in pretax profits in Asia.

GM said it earned $1.2 billion in the quarter, compared with $1.49 billion in the same period a year ago, although it narrowed its losses considerably in Europe, where weak economic conditions have driven new-car sales to their lowest levels since the 1990s.

The company said that its global revenue was up 4 percent to $39 billion, and that worldwide vehicle sales, including joint ventures, increased 4 percent to $2.49 million.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories