GM faces a further hit in sales

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Compared with last year’s sales figures for the same period of time, GM’s sales figures have dropped by 22 percent, thanks in part due to the global slump as well as its bankruptcy proceedings. However, there is light at the end of the rainbow – sales figures for the second quarter actually show an improvement over those in the first quarter.

By next year the worst should be over for the recession in general and the auto industry in particular. The figures tell the story: the first quarter sales fell 21.9 percent, while the drop in sales for the second quarter was less at 15.4 percent. GM is estimating that it will trim its losses even further later this year when sales should pick up after the cash for scrapped cars comes into effect. Globally its second quarter share has fallen 12 percent.