Automaker Slumps in Europe ; Fourth-Quarter Earnings Drop 37 Percent

Summary

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Challenging market conditions in Europe downshifted General Motors Corp.'s earnings 37 percent in the fourth quarter as the world's largest automaker lost market share in North America and around the globe.

For the 2004 fourth quarter ended Dec. 31, GM reported a net income of $630 million, or $1.11 per share, compared with $1 billion, or $2.13 per share, during the same period a year earlier.

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Automaker Slumps in Europe ; Fourth-Quarter Earnings Drop 37 Percent

GM reported fourth-quarter sales of $51.3 billion, down 5 percent from $48.8 billion during fourth quarter 200...

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