BUSINESS BRIEFING / AUTOMOBILES
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Times Wire Reports
Although General Motors Co.’s North American sales dropped sharply in the first quarter as it headed into bankruptcy protection, strong growth in its Asia-Pacific region offset much of the decline, and the automaker ended up with global sales down 15% for the second quarter.
GM, which has received $50 billion in government aid and emerged from Chapter 11 on July 10, said that it sold 1.94 million vehicles worldwide in the April-to-June period, despite a 32% decline in North America.
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