Auto Industry
GM $2.5 Billion Loss in Q3 2008, May Run Out Of Cash in 2009
DETROIT — General Motors today reported its fifth straight quarterly loss because of “unprecedented economic and credit market turmoil” and warned that it may not have enough cash to operate by mid-2009.
GM ended the third quarter with $16.2 billion in cash on hand, down from $21 billion on June 30.
GM’s reported net loss in the […]
Ford Posted a loss of $129m (£81.8m) for Q3 of 2008
The dire situation facing America’s car makers has been emphasized by the revelation that Ford could run out of cash next year if it doesn’t slash spending.
The company’s latest financial update revealed that it posted a loss of $129m (£81.8m) for the last quarter of 2008, with the worst performance coming from the north American […]
