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Last updated 7:32AM ET
March 6, 2021
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GM Shares
(wgvu) - DETROIT (AP) - General Motors Corp. shares have fallen to a
52-week low after a Deutsche (DOY'-chuh) Bank analyst lowered his
sales forecast through 2010.
Rod Lache (la-SHAY') also says the automaker will need further
restructuring as customers continue to abandon trucks and sport
utility vehicles for smaller cars.
GM shares had dropped nearly seven percent in morning trading to
$14.75 per share before rallying to $14.95 in the early afternoon.
The previous 52-week low was $15.50 per share.
Ford Motor Co. shares also had fallen five percent to $6.27 in
afternoon trading, while shares of AutoNation Inc. fell five
percent to $12.89.
Lache (la-SHAY') says in a note to investors that he expects
total U.S. sales to fall to 14.5 million in 2008 from his previous
estimate of 14.9 million.
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