This is from a Canadian newspaper that covers the auto business news. Honda is cautiously optimistic about sales, because profit slipped about 4%. GM said that only losing 115 million last quarter was due to the success of their reorganization. Daimler Chrysler's losses are so extensive, many scientists believe they may have actually "broken off" from our reality, and may in fact now operate from a parallel universe where women buyers yearn for Dodge Chargers and the new look of the Chrysler 300.
Full story below is from The Chronicle Herald:
GM, DaimlerChrysler post losses; Honda profits up
DETROIT (AP) — After months of restructurings, job cuts, management changes and other moves to lift their fortunes, U.S. automakers still are posting losses as market share slips further toward their Asian rivals.
General Motors Corp. and DaimlerChrysler AG’s Chrysler Group reported third-quarter losses Wednesday, joining Ford Motor Co., which on Monday posted a whopping US$5.8 billion loss. In contrast, Tokyo-based Honda Motor Co. reported a profit Wednesday, although less than the same period last year.
A $1.5 billion quarterly loss at Chrysler prompted some industry analysts to question whether its parent company would put it up for sale.
GM posted a $115 million loss for the third quarter on Wednesday, saying its results reflected benefits of its turnaround plan.
Honda said Wednesday that second-quarter profit slipped 4.3 per cent, but sales were strong especially in North America and Asia, where demand for fuel-efficient Japanese cars has been growing.
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