GM Earnings Fall 41%

General Motors Co. netted $1.5 billion in the second quarter of this year compared to $2.5 billion in the same period of 2011.

Revenue declined 4% to $37.6 billion in the April-June period, chiefly because of the stronger dollar. Worldwide sales rose 3% to 2.39 million vehicles. Earnings before interest and taxes slid $900 million year over year to $2.1 billion.

GM earnings were eroded by a $361 million second-quarter operating loss in Europe compared with a $102 million profit a year earlier. Revenue in the region plunged 21% to $5.9 billion, and vehicle sales fell 7% to 454,000 units.

Operating results also deteriorated at the company's auto units in other regions. North American income dropped 13% to $2 billion in the latest quarter. Revenue dipped 1% to $22.9 billion. Sales grew 5% to 820,000 vehicles.

GM's South America unit swung to a $19 million loss from a $57 million profit a year earlier. Revenue declined 4% to $4.2 billion as sales dropped 7% to 254,000 vehicles.

Earnings for the company's international unit, which includes Asia Pacific, slipped 3% to $577 million, including a $106 million charge for India operations. Revenue jumped 8% to $6.9 billion. Sales climbed 11% to 863,000 vehicles, aided by gains in China.