Top US car maker General Motors said its third quarter earnings fell 5.9% from a year earlier and said Europe's turmoil would keep earnings flat in the current period.
GM, maker of the Chevrolet and Cadillac brands, said net profits in the quarter to September 30 were $2.09 billion, compared with $2.22 billion a year earlier. The figure was sharply lower than the previous quarter's $2.50 billion.
On a fully diluted basis, earnings per share fell to $1.03 from $1.20 a year earlier. Revenues were up to $36.7 billion from $34.1 billion.
After a strong recovery over the past year from the 2008-2009 recession and government-led rescue, GM predicted that the fourth quarter would show little change from a year earlier, "as a result of seasonal trends in North America and weakness in Europe."
It said restructuring charges in Europe would also hit its full-year bottom line "due to deteriorating economic conditions."
