America's No 1 auto maker General Motors on Friday reported a $4.2 billion loss (20,160 crore rupees) for the July-Sep quarter.

GM said it had burned through $7 billion during the quarter and warned that "it is running out of cash".

General Motors is a 100 year old company with 266,000 employees and factories in 35 countries. Two General Motors brands (Opel and Chevrolet) are popular in India. As per Fortune 500 list GM is world's 9th largest company in terms of revenue. Till last year GM was world's largest automaker but surpassed by Toyota in 2008.

Trading of GM shares were suspended for few minutes yesterday after it published the results. GM shares finally closed with a loss of 9.17 percent.

In last October GM shares were trading at $43 but now it is only less than $5, a drop of 1 lakh core in market value over one year.

Now automakers are asking for a part of money from US financial rescue package to save the troubling auto sector.