Troubled auto company seeks solace in Africa: General Motors is having a hard time yet its woes are being partly offset by encouraging news from Africa. Stephen Williams has the details.(Vehicles)

IT HAS NOT been a happy time for General Motors Corp (GM) in recent months. There is an ocean of red ink from European operations, a rapid loss of market share in North America, and problems with the China/Asia-Pacific division.

Following the announcement of first quarter 2005 losses of US$1.1bn, further humiliation was inflicted on the automobile giant when on 5 May Standard and Poor's, the credit rating agency, downgraded GM's US$290bn of debts to junk status. The same downgrade treatment was also meted out to the Ford Motor Corp.

Auto analysts say ongoing pension and health costs for workers, a deal with FIAT that turned sour, and GM's extravagant model range, …