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Auto giants sell more cars but profits shrink in 1969 70
Four major U.S. automakers show rising sales yet falling profits. General Motors posted record worldwide dollar sales of 23.4 billion in 1969 with 1.7 billion in profit, while 1970 results show profits down to 609 million on 18.8 billion in sales due to a UAW strike. The strike caused a 77 million loss in Q3 and 135 million in Q4.
MENTIONED IN THIS ARTICLE
David W. Chute
Detroit
UPI
U.S
General Motors
United Auto Workers
James M
UAW
United Steel Workers
United States