General Motors reportedly is set for disappointing November sales and profitability.
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The Philadelphia Inquirer said that GM will feel intense pressure to speed up or expand the job cuts and plant closings it announced last week.
Just-auto reported on 10 November that GM plans to restate its 2001 earnings due to an accounting error leading the company to an overstatement of up to 35%.
GM, Ford and Chrysler all launched new incentive packages in mid-November to lure customers into dealerships.
Their strategies worked, but not enough to counter other factors like jittery consumers and the hangover effect from a summer of near-record sales, industry analysts say.
Analyst John Casesa said in the Inquirer report: “It seems that November got off to an excruciatingly slow start, with new incentives programmes from Ford and GM just now beginning to boost showroom traffic.”
