Analysts Predict Big Loss for GM: Auto...
From Times Staff and Wire reports
Analysts Predict Big Loss for GM: Auto industry analysts are slashing their fourth-quarter and 1991 earnings estimates for General Motors Corp., saying lower production will spell even deeper losses than had been anticipated for the nation’s largest auto maker. GM could see a loss of as much as $1.5 billion for the final quarter of 1990, analysts said. The impact of the Middle East crisis on consumer confidence, the weak economy and higher fuel prices have dampened demand for cars and trucks and taken a toll on the performance of the nation’s auto makers.
