GM posts quarterly loss due to coronavirus shutdown

[July 29, 2020] By Nick Carey and Ben Klayman

(Reuters) - General Motors Co <GM.N> on Wednesday swung to a loss for the second quarter, reflecting a forced shutdown to slow the spread of the coronavirus pandemic that left its North American plants idled through to May 18.

The No. 1 U.S. automaker reported a net loss for the quarter of $806 million, or 56 cents per share, down from a profit of $2.4 billion, or $1.66 per share, a year earlier. Analysts had expected a loss of $1.77 per share for the quarter.

(Reporting by Nick Carey and Ben Klayman, editing by Louise Heavens)

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