GM profits fall 41 percent in second quarter: Autoweek TV

HOME   |   CAR NEWS   |   CAR REVIEWS   |   RACING   |   AUTO SHOWS   |   VIDEOS   |   COLLECTOR   |   SUBSCRIBE Thursday, August 02, 2012                  A weak European economy cut into otherwise strong GM earnings. GM profits fall 41 percent in second quarter: Autoweek TV 08/02/12, 4:07 pm et Also in this episode: Reports show mixed July automotive sales figures, and Penske Racing has released driver A.J. Allmendinger following a failed drug test. TRANSCRIPT -- GM profits take a hit. -- Who were the winners and losers in car sales last month? -- And A.J. Allmendinger is out at Penske Racing. I'm Greg Migliore, and this is Autoweek TV for Thursday. General Motors' second-quarter profits fell 41 percent to just less than $1.5 billion. The situation in Europe is weighing heavily on GM earnings, and the company made almost $2 billion in North America. Car sales last month were a bit of a mixed bag. Overall they increased 9 percent compared with July 2011—that's good. And Toyota, Honda, Chrysler and Nissan were all up. But... CLICK HERE TO UNSUBSCRIBE or to sign up for other Autoweek e-mail products. IMPORTANT: Please add Autoweek.com to your E-mail Address Book to ensure you will continue to receive our newsletters. Please DO NOT reply to this e-mail. You will not receive a reply if you use this e-mail address. Crain Communications, 1155 Gratiot Ave. Detroit, MI 48207.