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GM suffers £4bn loss in first quarter of 2009

General Motors has lost £4 billion in the frst quarter of 2009.

Revenue across the group fell by by almost half to £14.9bn as sales dropped in North America, Europe, Asia and Latin America reports Sky News.

The overall loss was almost double the £2.2bn shortfall for the same period last year.

So far the company has taken more than £10bn in emergency loans from the US Treasury.

The first quarter also marked GM's failure to win new federal backing for a turnaround plan.

 

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