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Filed under: GM , Earnings/Financials Ford Motor Company's third-quarter earnings report released earlier today basically said, "Times are bad, but we'll be aight." General Motors' just-released earnings report for the same time period says "Holy effin' hell, we're running out of things to cut, please help us!" We'll try and it keep it simple, but the main number is $2.5 billion, as in $2.5 billion lost during the Q3 '08. That compares with a $42.5 billion loss this time last year, but the bulk of that was attributable to a one-time charge against the books. Unfortunately, not only was GM North America revenue down, but the automaker claims the credit crisis has made its way around the world and contributed to losses in GM Europe and GM Asia Pacific, as well as its own financing arm, GMAC. Here's the bigger story: General Motors burned through $6.9 billion of its cash reserves during Q3 '08, which reduces its bank account from $21...
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Filed under: GM , Honda , Earnings/Financials As we reported earlier today , Toyota is not expected to reveal the actual number of vehicles it sold in 2007 until later this month, but a source has told Reuters that the number should be about 9.366 million units worldwide. GM announced earlier today that it sold 9,369,524 vehicles around the world last year, which official makes it the world's best-selling automaker for the 77nd year in a row, though by the slimmest of margins. We reiterate that owning this title makes little difference to either automaker. GM is in the midst of a turnaround in the U.S. market with sales in its own backyard still yet to rebound while Toyota is gaining marketshare in most regions around the world. Their global sales numbers are bound to cross paths at some point putting Toyota on top, and most analysts expect that to happen in 2008. Even if Toyota does pass GM in global sales for 2008, however, we don't expect it will be able to keep the title for...
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