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