GM Lost $4.3b In The Second Half Of 2009

Edward Niedermeyer
by Edward Niedermeyer

GM has announced its “fresh-start” post-bankruptcy accounting results, and between July and December of last year, the bailed-out automaker lost $4.3b [press release here, full numbers here, in PDF format]. The loss comes despite $57.5b in global revenue, and $1b in “net cash provided by operating activities.” According to GM’s release:

The $4.3 billion net loss includes the pre-tax impact of a $2.6 billion settlement loss related to the UAW retiree medical plan and a $1.3 billion foreign currency re-measurement loss.

Of course, you have to dig into the numbers to find the bad news, like the $56.4b in “cost of sales,” or the $700m interest cost, or the 48 percent North American capacity utilization in 2009, or the 16.3 percent US car market share. Which is why we’ve included the consolidated statement of operations, consolidated balance sheets and more, for your no-download-necessary perusal, after the jump.

Edward Niedermeyer
Edward Niedermeyer

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  • Obbop Obbop on Apr 07, 2010

    While I continue, during casual conversations, and the opportunity allows it, inform others of my 2004 decision to assist the "home team" by buying a Ft. Wayne-made Chevy truck and how several dealers AND corporate GMC spat upon me by refusing to even make a honest attempt at diagnosing several of the defects that negatively affected the truck and that added several thousand dollars of indirect cost to the total "cost of ownership" during the warranty period (lost time/wages, car rentals, etc)

  • Motorhead10 Motorhead10 on Apr 08, 2010

    they still have to invest in the business - so a run rate of $2b per year cash from operating and forecast cap ex of $6b (cap ex was $7.5b in '07 & '08) results negative free cash flow. But yeah, "favorable managed working capital of $4.3 billion primarily driven by the effect of increased sales and production on accounts payable and the timing of certain supplier payments" = no cash burn from operations...

  • CanadaCraig You can just imagine how quickly the tires are going to wear out on a 5,800 lbs AWD 2024 Dodge Charger.
  • Luke42 I tried FSD for a month in December 2022 on my Model Y and wasn’t impressed.The building-blocks were amazing but sum of the all of those amazing parts was about as useful as Honda Sensing in terms of reducing the driver’s workload.I have a list of fixes I need to see in Autopilot before I blow another $200 renting FSD. But I will try it for free for a month.I would love it if FSD v12 lived up to the hype and my mind were changed. But I have no reason to believe I might be wrong at this point, based on the reviews I’ve read so far. [shrug]. I’m sure I’ll have more to say about it once I get to test it.
  • FormerFF We bought three new and one used car last year, so we won't be visiting any showrooms this year unless a meteor hits one of them. Sorry to hear that Mini has terminated the manual transmission, a Mini could be a fun car to drive with a stick.It appears that 2025 is going to see a significant decrease in the number of models that can be had with a stick. The used car we bought is a Mk 7 GTI with a six speed manual, and my younger daughter and I are enjoying it quite a lot. We'll be hanging on to it for many years.
  • Oberkanone Where is the value here? Magna is assembling the vehicles. The IP is not novel. Just buy the IP at bankruptcy stage for next to nothing.
  • Jalop1991 what, no Turbo trim?
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