GM Disappoints In The 4th Quarter

Analysts had already expected a disappointing 4th quarter, but when GM announced the results of the October – December quarter today, the results were worse than feared. Net income attributable to common shareholders was $500 million, or 28 cents a share. Analysts had expected two cents more. Strong results in North America were dragged down by losses in Europe. Said GM CFO Dan Amman: "We clearly have work to do in Europe. We have work to do in the South America business. Frankly, we have work to do all around the company in terms of cost opportunity." That work should not be easy. The business climate in Europe is getting rougher. Opel is losing market share in Europe, and the unions oppose any further plant closings. In China, the growth of the new car market has come to a halt.   from The Truth About Cars http://www.thetruthaboutcars.com

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