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Plant closings send GM to 2Q loss, but signs of improvement - Black News Channel

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By Tom Krisher AP Auto Writer DETROIT (AP) — 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 from April through June. The Detroit automaker closed its plants on March 18 and they remained idle for two months due to the coronavirus. 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. The company reported a loss of […]

The post Plant closings send GM to 2Q loss, but signs of improvement appeared first on Black News Channel.

Source: Black News Channel - Black News Channel

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