GM’S NET INCOME PLUNGES IN SECOND QUARTER

General Motors reported Wednesday its net income tumbled on slow sales and thin inventory in the second quarter, especially of its profitable pickups and SUVs following an eight- week factory closure due to the coronavirus pandemic. GM announced a net loss of $ 800 million, down 132% from the same time a year ago. Its earnings before interest and taxes adjusted were a loss of $ 500 million, down 118%. Net revenue was down 53% to $ 16.8 billion.

RICHARD DREW/ AP