GM lowers its loss by $24 million

General Motors Corp. said Tuesday that its third-quarter loss was smaller than it had announced because of a late loan sale by its finance arm.

The world’s largest automaker, in its quarterly filing with the Securities and Exchange Commission, revised the loss to $91 million, or 16 cents a share, from the $115 million, or 20 cents, it had reported late last month as part of its preliminary quarterly results.

GM also reported third-quarter revenue of $48.9 billion, revised from $48.8 billion.

A spokeswoman for the company’s finance arm, General Motors Acceptance Corp., said the unit settled a deal to securitize a loan after GM reported preliminary earnings.

GM said it still estimated its exposure for benefit guarantees to Delphi Corp., a former GM unit operating in Chapter 11 bankruptcy, at $6 billion to $7.5 billion but added that the figure would probably be near the low end of the range.

The automaker, which spun off Delphi in 1999, has been in talks with the parts supplier and its unions over a cost-saving labor deal that would allow Delphi to emerge from Chapter 11. A deal by the United Auto Workers union, Delphi and GM would avert a strike that could shut down GM’s production.

On Tuesday, GM said Delphi continued to assure the automaker that it expected no disruption in its supply of systems, components and parts.

In another closely watched matter, GM repeated that it expected to close the $15-billion sale of a 51% stake in its finance arm in the fourth quarter.

The quarterly results come as Chief Executive Rick Wagoner is under pressure to show progress in GM’s turnaround.

GM shares fell 8 cents to $34.62.