(MENAFN) General Motors viewed profits fall in the second quarter after it took a hit from the cost of closing less profitable overseas operations and the remaining of the year seems challenging.
Meanwhile, as car sales fell in the cooling N. American market, net income for the largest U.S. auto maker fell 42 percent from the same period of 2016 to USD1.7bn.
In addition, the automaker also warned that it sees a hard business environment in the cited period of this year, when it aims to stop production at a number of U.S. factories.
Accordingly, the automaker viewed adjusting its production as the first lever in addressing a weak market, rather than restoring to consumer rebates to drive sales.
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