General Motors reported its third-quarter earnings today, and while revenues were up in the three-month period, overall profits were down 14 percent compared to last year. GM's Q3 net revenue was $37.6 billion (almost $1 billion more than 2011), but its net income was $1.5 billion, down from $1.7 billion last year. This is the opposite trend from Chrysler and Ford, which were both up considerably. According to Automotive News, GM's lower profit came from a combination between the flailing European car market and the increased production of small cars.
Autoblog , GM profits down 14% in Q3, GM profits down 14% in Q3
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