Is this the end? GM posts massive first-quarter losses


Earlier today, General Motors (GM) posted first quarter losses of $5.9 billion dollars. Although significantly less than the $6.7 billion that many analysts anticipated, the losses were devastating. Some are suggesting that this may be the ailing automakers final revenue report.

The losses came out to $9.66 per share, a quantum leap over last year's first quarter losses of $381 million, or $0.67 per share. The automaker has attributed its falling revenue to a 40 percent drop in the number of units produced over the past year. This has been linked to a 47 percent decline in domestic sales and a 28 percent decline in global sales. Ultimately, the plummeting sales figures led to a $20 billion drop in revenue.