rorty:::tort: ALERT: GM Q3 profit falls 14% on weak Europe, higher N.A. costs

Wednesday, October 31, 2012

ALERT: GM Q3 profit falls 14% on weak Europe, higher N.A. costs

BREAKING NEWS ALERT

October 31, 2012

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GM Q3 profit falls 14% on weak Europe, higher N.A. costs
Mike Colias

GM's third-quarter net profit slid 14 percent, hurt by wider losses in Europe, higher costs in North America and a less-profitable mix of sales in several markets. Net income was $1.48 billion for the July-September period, down from $1.73 billion a year earlier, the company said today in a statement. Stronger volumes and prices in North America and Asia were offset by a shift in production to smaller cars, which are less profitable.