Auto Industry
GM Weathered the Workers' Strike in Q3
General Motors on October 29 posted a third quarter net revenue of $35.5 billion, despite the United Auto Workers’ strike lasting nearly two weeks in Q3. They also delivered nearly 739,000 vehicles in the United States, according to GM’s third-quarter
The strike, which lasted from September 16 to October 26, cost GM $750 million. The rest of the loss will be accounted for the in the fourth quarter of 2019, they said.
The Q3 results is a slight dip from their second quarter, where GM boasted a net revenue of $36.1 billion and delivered about 747,000 vehicles. In Q1, the Detroit-based auto company reported a net revenue of $34.9 billion and delivered 665,00 vehicles.
While the 40-day strike didn’t have an immediate effect in the third quarter, GM cut their profit forecast, predicting a loss of $3 billion for the year. Their share earnings would likely be $4.50 to $4.80, down nearly $2 from their original prediction.
Description
This chart shows the net revenue and car deliveries of GM in Q3.
Related Infographics
Any more questions?
Get in touch with us quickly and easily.
We are happy to help!
ƽ Content & Design
Need infographics, animated videos, presentations, data research or social media charts?