General Motors Corp. today reported a $30.9 billion loss last year, the troubled automaker's fourth straight annual loss, as deteriorating economic and market conditions and questions about the company's viability continued.
Its fourth-quarter net loss last year was $9.6 billion. For the quarter, GM said it lost $15.71 per share, compared to a net loss of $1.5 billion, or $2.70 a share for the same period a year earlier.
The results underscore GM's need for up to $16.6 billion in additional federal loans, a case chairman and CEO Rick Wagoner will make later today during a meeting with President Obama's autos team, which is overseeing the automaker's restructuring and federal loan repayment. GM already has received $13.4 billion, which helped the troubled automaker avoid running out of money in December and survive the weakest sales market since the early 1980s.
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