TITLE

US market puts brakes on GM profits

PUB. DATE
March 2005
SOURCE
Engineer (00137758);3/29/2005, Vol. 293 Issue 7671, p18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that General Motors Corp. (GM), the world's biggest automotive company, issued a profits warning to investors as it felt the heat of unprecedented competition in its U.S. heartland. GM sources revealed that it now expects to post a loss in the first quarter of 2005 after earlier predicting it would end the period at break-even or better, and said profits for the year as a whole would be significantly lower than forecast. The company Is facing problems on two fronts. Firstly, its production costs are higher than those of its Asian rivals. Secondly, some market commentators believe it has been slower than its rivals to launch the types of innovative, desirable car models that appeal to style-conscious consumers.
ACCESSION #
16659420

 

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