DETROIT -- General Motors on Monday posted a $1.6 billion third-quarter loss as high gasoline prices slammed sales of big SUVs and rising costs for everything from raw materials to health care eroded profits.
GM lost more than $1.4 billion in the first half of the year. The third-quarter loss equaled $2.89 a share, in the third quarter.
Excluding special items, GM's loss totaled $1.92 cents per share. On that basis, analysts' average forecast was a loss of 81 cents a share, according to Reuters Estimates.
The pressure is mounting on GM, with its main auto parts supplier in bankruptcy, its share price at multiyear lows, and once-robust sales of gas-guzzling SUVs stalled.