GM is making a profit in North America but losses in Europe
- General-Motors has achieved a net profitof $ 1.5 billion in the third quarter of 2012 ,down 12% due to poor results in Europe. Its
revenue rose by 2.4% to $ 37.6 billion.
- For the European branch Opel / Vauxhall, the Group plans a loss of 1.5 to 1.8 billion this year.
This situation makes the position of this division more sensitive, and gives more depth to a project of alliance with PSA.
- General Motors said that a total of 2,300 jobs were lost in its European division since early 2012, mostly through retirements or
transactions, and another 300 were expected to be lost in addition by the end of year.
In 2013, further job cuts could occur depending on the market demand. General-Motors also said that it expects to face in Europe an a
very difficult environment in the last quarter of the year.
