GM Loses $1,227 Per Vehicle
Please take notice of the profit margins mentioned about the other auto makers --- this industry is rapidly falling apart --- perhaps by design?!?
Here is the report from BLOOMBERG NEWS:
DETROIT - General Motors Corp. lost an average of $1,227 per vehicle sold in North America during the first half of 2005, the most of any U.S. automaker, according to an industry analyst.
Ford Motor Co. had a loss of $139 per vehicle, while DaimlerChrysler AG's Chrysler unit produced a profit of $186, Laurie Felax, vice president of Harbour Consulting in Troy, Mich., said Monday.
GM and Ford are trying to cut costs as they struggle with excess capacity while raw material prices and benefits costs rise. Ford has trimmed employees and has said more cuts will come, while GM is in talks with the United Auto Workers in an effort to lower health-care expenses.
Nissan Motor Co. led the world's biggest automakers with a profit of $1,826 per vehicle, followed by Toyota Motor Co. with $1,488 and Honda Motor Co. with $1,203.
General Motors bankruptcy