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U.S. markets recover from steep losses
DETROIT, Oct. 19 (UPI) -- General Motors Corp. says it may add and expand factories in foreign markets outside of the United States where business is good.
Despite struggles in the critical U.S. market, GM reported a 4 percent increase in global third quarter sales, a record 2.4 million cars and trucks, the Detroit News said Friday.
Discussing the situation with Wall Street investors, GM analyst Paul Ballew said the U.S. automaker had sought to grow in emerging markets without investing heavily in new factories. But, he said demand was putting pressure on the fastest growing regions, including Latin American countries.
GM's sales increases included a 22 percent jump in Latin America, Africa and the Middle East. Sales were up 16 percent in the Asia Pacific region and 15 percent in Europe.
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