Jul
26
GM and Ford Grow Ever-More Dependent on Declining Home Market
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North American units supply nearly all the carmakers’ profits
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Both companies have cut U.S. auto industry sales forecasts
For General Motors Co. and Ford Motor Co., home is where the profits are. That’s a source of heartburn as U.S. auto sales stall.
Ford Chief Financial Officer Bob Shanks put it plainly when explaining his company’s quarterly financial results Wednesday: “Effectively, every dollar we earned in the automotive segment was earned in North America.” It’s a similar story at GM, which reported all but about $200 million of adjusted profit came from the region…
GM and Ford Grow Ever-More Dependent on Declining Home Market
