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Sales slump doubles losses at GM

BBC Troubled US carmaker General Motors has announced a loss of $6bn (£3.98bn) for the first three months of this year as a massive slump in sales hit revenues.

The loss is almost double the $3.3bn loss recorded a year earlier, while revenue of $22.4bn is almost half that posted in the first quarter of 2008. The company also said it burned through $10.2bn of cash in its attempts to stave of bankruptcy.

The carmaker has taken billions of dollars in aid from the US government. GM has a 1 June deadline to come up with a restructuring plan. If it fails to do so it will be forced to file for bankruptcy protection.

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