GM lost $4.3 Billion since leaving bankruptcy in July
Thursday, 08 April 2010, 15:28 IST
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Washington: General Motors posted a net loss of $4.3 billion from July to December, the U.S. carmaker said Wednesday in its first earnings report since exiting bankruptcy. Nearly all of the loss came in North America, where the car market struggled through much of last year. GM reported global revenue of $57.5 billion over the July-December period. GM emerged from bankruptcy July 10 largely in the control of the U.S. government. Wednesday's release marks the first step towards the carmaker rejoining the stock market, but executives would not say when GM might consider going public again. GM Chief Financial Officer Chris Liddell reiterated that GM would pay back all emergency government loans by June and said there was 'a good chance' that the largest U.S. carmaker could return to profitability in 2010. 'I'm increasingly confident that we're on the right track,' Liddell said in a conference call with analysts.
Source: IANS
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