GM, the successor to the automaker that slid into bankruptcy this year, revealed that the company lost USD 1.1 billion in the third quarter after its July 10 exit from the US government aided restructuring.

General Motors, 61 per cent now owned by the US government, said its operations generated a staggering USD 3.3 billion in cash and ended September with USD 42.6 billion on hand.

Erich Merkle, president of consultant Autoconomy.com in Grand Rapids, Michigan said,
“After everything that’s happened, they’re really just providing general, overall guidance. To a certain extent, GM is trying to position themselves with the government and the consumer.

The results were un-audited which reported data for July 1 through July 9, for the pre-bankruptcy GM, and for the period since July 10. Revenue was USD 28 billion for the full three months, GM said.

The pre-bankruptcy GM lost $2.54 billion a year earlier, its best three-month period of 2008.