GM Takes $1.1 Billion First-Quarter Loss on Reduced Sales
Shortfall is Biggest Since 1992
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GM also makes trucks — it sold about 170,000 Class 1 trucks in March, 81,000 Class 2s and about 3,900 Class 3-8s.
eneral Motors Corp. reported Tuesday it lost $1.1 billion in the first quarter, its biggest quarterly loss since 1992, which it blamed on falling sales and reduced market share.
The largest U.S. automaker also was struggling to reduce its health-care costs, Bloomberg reported.
The loss corresponded to $1.95 a share. In last year’s first quarter GM earned $1.28 billion or $2.25 a share.
The company did not offer any forecasts for future earnings.
