Financial Times FT.com

Strikes to cost General Motors $2.2bn

By Bernard Simon in Toronto

Published: May 23 2008 15:02 | Last updated: May 23 2008 15:02

General Motors estimated on Friday that recent labour disruptions at one of its key suppliers and at several of its own plants will chop about $2.2bn from second-quarter pre-tax earnings.

The Detroit-based company also disclosed that the stoppages had cost it 363,000 vehicles in lost production since February, increasing the likelihood that it will be overtaken by Toyota as the world’s biggest carmaker this year.

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