Even Asia Is Weak For GM (GM)

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By Douglas A. McIntyre Updated Published
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Gm20jpeg20imageIt 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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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