The manufacturer blamed weak sales in the US for the huge losses and growth overseas being hindered by strikes at one of its main parts suppliers, American Axle and Manufacturing Holdings.

GM sold 2.25 million vehicles in the first quarter of 2008, down less than one percent from 2.27 million units in the first quarter 2007. Despite the setback, GM chairman and chief executive officer Rick Wagoner remained upbeat. “We continue to leverage our global product portfolio to take advantage of tremendous growth in key emerging markets, while at the same time taking the appropriate actions to deal with the challenging economic conditions in the US,” he said.