GM: posts net loss for Q2

(CercleFinance.com) - General Motors has reported a non-GAAP adjusted loss of 50 cents per share for Q2 2020, down 130% year-on-year, with an adjusted operating margin that is down 11.
5 points to -3.2%.

The car maker's sales fell by over half (-53% precisely) to 16.8 billion dollars due to the health crisis, while its adjusted automotive free cash flow was negative at -9 billion dollars.

However, the Detroit-based group points out that its business in North America (GMNA) is close to break-even in terms of adjusted EBIT (-100 million dollars), despite eight weeks of lost production.


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