GM Sales Hit the Brakes, Posts $3.3B Loss

General Motors Corp. struggled to a $3.3 billion first-quarter loss, due in part to a weak U.S. market, a strike at a major supplier and plummeting sales of sport utility vehicles and pickups. The loss reported Wednesday for the January-March period, which amounted to $5.74 per share, also reflected one-time charges. It compares with a profit of $62 million, or 11 cents per share, in the first quarter of 2007. GM said a two-month strike at American Axle and Manufacturing Holdings Inc. has...Full Story
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