It has been clear for some time that GM’s (GM) sales in the US and Europe have been poor and are likely to stay that way. The company said that in the third quarter the situation was worse than many analysts expected. North America sales down 18.9% and Europeans sales were down 12.3%
GM had pinned it hopes on Latin America, where it has done well for some time, and Asia where auto sales or most global car companies have been good as ownership levels rise.
No such luck. GM said sales for the Latin America, Africa and Middle East region moved up 3.4% in the third quarter and Asia-Pacific sales up only 2.6%
Worldwide the company lost over 11% of its unit volume in Q3 compared to last year as sales fell to 2.1 million units.
Douglas A. McIntyre
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