Black day for US auto giant
Agence France-Presse
The 2008 results were nonetheless an "improvement" upon 2007, when GM posted a $43.3 billion loss due primarily to a massive accounting charge, even as annual revenues fell to $149 billion from $180 billion in 2007.The struggling automaker, which last week asked the U.S. government for billions more in emergency loans, said its dismal results reflected the global economic crisis and an industry-wide collapse in demand.
"2008 was an extremely difficult year for É auto markets, especially the second half," GM chairman Rick Wagoner said. "These conditions created a very challenging environment for GM."
