GM reports 2Q loss of $758 million, but says things are looking up

GM reports 2Q loss of $758 million, but says things are looking up

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Even though General Motors was able to reopen its U.S. factories for the last half of the second quarter, the company still lost $ 806 million in the three months between April and June. The Detroit automaker had to close its plants from March 18 to May 18 due to the coronavirus, and production didn’t resume fast enough to stem the losses. Like other automakers, GM counts revenue when vehicles are shipped from factories, so it had little money coming in for about seven weeks in April and May.

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GM reports 2Q loss of $ 758 million, but says things are looking up originally appeared on Autoblog on Wed, 29 Jul 2020 09:19:00 EDT. Please see our terms for use of feeds.

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