General Motors took a hit to third quarter earnings compared with last year due to European struggles, but handily beat Wall Street forecasts thank to strong demand for its vehicles in the U.S. and better profit margins.
General Motors reported global sales of 2,296,000 vehicles in the third quarter, which is a 3-percent decline versus Q3 of last year. That's only 66,000 unit off what was sold during the same period in 2005, and the GM spinmeisters attribute the difference to the employee pricing war last year and the company's commitment to reduce rental and fleet sales this year. Aight, we can buy that, so perhaps GM really did hold its ground this year in the global market.
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