Cars
The light at the end of the tunnel seems to be getting dimmer and dimmer for General Motors as the company announced a $30.9 billion net loss for the 2008 calendar year, the second biggest in its 100-year old history. Furthermore, GM burnt $5.2 billion in cash during the fourth quarter of 2008, largely due to lower volume across the firm's global operations and negative working capital. The automaker's worldwide sales totaled 8.35 million vehicles in 2008, down 11 percent, or 1.01 million vehicles from 2007.
- Gm Records $6 Billion Net Loss In First Quarter, Burns $10.2 Billion In Cash
The first quarter numbers are in for General Motors and things aren't looking bright for the largest U.S. automaker as the Obama administration's June 1st bankruptcy deadline nears its end. General Motors recorded a net loss of $6.0 billion in...
- Daimler Posts €1,4 Million Loss In First Quarter Of 2009, Sales Down 34%
Only hours after announcing that it had agreed to unload its remaining 19.9 percent stake in Chrysler LLC, Daimler published its quarterly results which saw the company that owns Mercedes-Benz posting a €1,426 million loss before interest and tax...
- Fiat Announces 21% Drop In Pre-tax Profits For 2008, Foresees 20% Less Sales In 2009
Two days after announcing its plans to acquire a 35 percent stake in Chrysler LLC, Fiat S.p.A. released the group's 2008 calendar year results and at the same time, revealed its gloomy outlook for 2009. The Fiat Group's total revenues for 2008...
- Deutsch Bank: Gm's Shares May Become Worthless
General Motors shares plummeted $1, or 23% to $3.36 on the New York Stock Exchange today-their lowest point since 1949- after a Deutsche Bank AG analyst downgraded the automakers stocks, saying they may be worthless in a year. "Even if GM is able to secure...
- Ford Reports $2.7 Billion Operating Loss In Q3, Burns $7.7 Billion In Cash, Announces Job Cuts
It can't get any worse for Ford Motor Company - or can it? The American automaker today announced a third quarter net loss of $129 million which is actually smaller than the same period a year ago when FoMoCo lost $390 million. However, the company...
Cars
GM Reports $30.9bn Loss in 2008, Burns $5.2bn in Cash during Q4
The light at the end of the tunnel seems to be getting dimmer and dimmer for General Motors as the company announced a $30.9 billion net loss for the 2008 calendar year, the second biggest in its 100-year old history. Furthermore, GM burnt $5.2 billion in cash during the fourth quarter of 2008, largely due to lower volume across the firm's global operations and negative working capital. The automaker's worldwide sales totaled 8.35 million vehicles in 2008, down 11 percent, or 1.01 million vehicles from 2007."2008 was an extremely difficult year for the U.S. and global auto markets, especially the second half, " Chairman and CEO Rick Wagoner said."We expect these challenging conditions will continue through 2009, and so we are accelerating our restructuring actions. At the same time, we are continuing our commitment to exciting, fuel-efficient cars and trucks, and the leadership in advanced propulsion technology ."
- Gm Records $6 Billion Net Loss In First Quarter, Burns $10.2 Billion In Cash
The first quarter numbers are in for General Motors and things aren't looking bright for the largest U.S. automaker as the Obama administration's June 1st bankruptcy deadline nears its end. General Motors recorded a net loss of $6.0 billion in...
- Daimler Posts €1,4 Million Loss In First Quarter Of 2009, Sales Down 34%
Only hours after announcing that it had agreed to unload its remaining 19.9 percent stake in Chrysler LLC, Daimler published its quarterly results which saw the company that owns Mercedes-Benz posting a €1,426 million loss before interest and tax...
- Fiat Announces 21% Drop In Pre-tax Profits For 2008, Foresees 20% Less Sales In 2009
Two days after announcing its plans to acquire a 35 percent stake in Chrysler LLC, Fiat S.p.A. released the group's 2008 calendar year results and at the same time, revealed its gloomy outlook for 2009. The Fiat Group's total revenues for 2008...
- Deutsch Bank: Gm's Shares May Become Worthless
General Motors shares plummeted $1, or 23% to $3.36 on the New York Stock Exchange today-their lowest point since 1949- after a Deutsche Bank AG analyst downgraded the automakers stocks, saying they may be worthless in a year. "Even if GM is able to secure...
- Ford Reports $2.7 Billion Operating Loss In Q3, Burns $7.7 Billion In Cash, Announces Job Cuts
It can't get any worse for Ford Motor Company - or can it? The American automaker today announced a third quarter net loss of $129 million which is actually smaller than the same period a year ago when FoMoCo lost $390 million. However, the company...