Financial Times FT.com

GM trims its US sales forecast

By John Reed

Published: April 30 2008 13:01 | Last updated: April 30 2008 19:25

General Motors pared back its forecast for US vehicle sales on Wednesday and predicted a difficult second quarter for its business as soaring oil prices depress demand for cars and trucks in its biggest market.

The US’s largest carmaker also said that the strike at its supplier, American Axle, which began in February, hit earnings by $800m in the first quarter to the end of March and led to the loss of 100,000 production units in that period.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this