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GM struggles as market downturn hits auto giant
September data show GM facing the steepest decline among major automakers with analysts predicting a bottom. Operating cash may dip to about 14 billion next year as GM’s sales fall 3 percent. The company has lost 575 billion in a protracted negotiation over a 49 percent GMAC stake. Cerberus previously acquired a stake in GM’s financing unit in 2006 and could seek an equity stake in GM again, hoping for a strong recovery when U.S. auto demand rebounds from a serious slump.
MENTIONED IN THIS ARTICLE
Gmac Financial Services
Cerberus
U.S