GM News Announcement: General Motors Earnings Shock

GM has made an announcement, and the news is set to shock everybody. We all know how bad General Motors earnings are right now, but today the auto giant has announced huge third quarter losses, and that they are in danger of running out of cash.

GM, the largest automaker in the U.S. has reported losses of $4.2 billion, that’s equivalent to $7.35 per share. The same time last year, General Motors reported losses of just $1.6 billion, that’s $2.86 per share.

The biggest shock from the announcement was GM’s cash position, it seems that the automaker has gone through $6.9 billion during the third quarter; as a result General Motors have warned that they are fast approaching the minimum amount of money that’s needed to operate its business.

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