GM is now back in black
Posted by admin . Published on 12 August 2010, Received
The General Motors automobile company of US has been the automobile leader for many decades till the year 2007 and within the next two years the company went into bankruptcy. The automobile demand was slowing down in US and Europe while the competition was also eating into the market share of GM.
Now after one year of restructuring coupled with robust demand pickup in US and Europe in the last few months, the company has got back into profit making mode once again. The company has sold 21.5 million vehicles in the said quarter against 19.4 million in the corresponding quarter last year.
The company has reported a 1.3 billion dollars profit this quarter versus 13 billion dollars loss same period last year.
