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The world's largest car-maker, General Motors, says its losses widened to 15.5 billion dollars in the second quarter of this year. At the same time last year it posted a profit of nearly 900 million dollars. GM said the costs of a massive restructuring plan to cope with the downturn in the US auto market were mostly to blame for the company's third largest quarterly loss in history. Meanwhile, German luxury car-maker BMW has announced a sharp 35 percent drop in quarterly profits, also due to deteriorating US conditions. Japan's giant Nissan motor company said on Friday its second quarter profits dropped by nearly 43 percent mainly on the back of the rising yen.
(Deutsche Welle)
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