General Motors Sales Off in December But Expecting to Turn a Profit in 2010

January 7, 2010

(ChattahBox) – Just last summer, General Motors was in taxpayer-funded bankruptcy reorganization and December sales were down by 10 per cent and off 33 per cent for 2009. Meanwhile Ford sales soared 33 percent last month, and Toyota jumped 32 percent, the automakers said yesterday. But the beleaguered automaker’s chairman told reporters Wednesday he believes they will be profitable in 2010: “My prediction is we will be,” Edward E. Whitacre Jr. said when asked about being profitable this year. “Do we have obstacles in the way? Yes. But we have a good management team and a good plan in place.”
If it comes to pass, it would be a major turnaround for the beleagured automaker, which has not posted an annual profit in five years. GM has vowed to repay its government loans by the middle of this year, and began repaying some of the $6.7 billion in outstanding government loans last month.

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Comments

2 Responses to “General Motors Sales Off in December But Expecting to Turn a Profit in 2010”

  1. Fuel cells 2009 – Business Ethics | Business Ethics Wisdom on January 9th, 2010 6:45 pm

    […] General Motors Sales Off in December But Expecting to Turn a … […]

  2. Joseph DuPont on January 29th, 2010 2:26 am

    I find it hard to believe that any company paying out so many retirement pensions can turn a profit with losing sales. I think the claim is just to spark sales.
    The Administration has by lying to keep the public from losing faith so why not
    GM. God bless Ford.
    Think of all of all of those investors who lost their shirt so that GM can turn
    a profit. At whose expense..? And whose health insurance package do they have?

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