GM reports 2.5 billion US$ loss for third quarter

Wikinews
November 7, 2008

American car manufacturer General Motors has lost 2.5 billion US dollars in its third quarter of 2008. The hemorrhage of cash has prompted GM to suspend talks of a "strategic acquisition" that some business analysts say may be referring to a possible buyout of Chrysler. Revenue has fallen nearly 5.8 billion dollars, greatly due to the recent global economic crisis which has caused consumers to sharply cut back on spending. The report indicates that GM could go bankrupt in 2009 without government assistance.

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