Ballooning losses at its North American division pushed General Motors deeper into the red in 2005.

The automotive giant says it lost US$4.8 billion, or $8.45 per share, in the fourth quarter of 2005. That compared to a loss of US$99 million, or 18 cents per share, in the October-December period of 2004. Revenue was US$51.2 billion for the quarter, down slightly from US$51.4 billion a year ago.

For all of 2005, GM said it lost US$8.6 billion, or $15.13 per share. Full-year revenue was US$192.8 billion, down slightly from US$193.5 billion in 2004.

Like its rival Ford, GM has been struggling with falling market share and has been unable to turn a profit in the North American market.

Excluding special items, GM reported a loss of US$1.2 billion, or $2.09 per share in the latest quarter, compared to adjusted earnings of US$726 million, or $1.28 per share, in the fourth quarter of 2004.

Meanwhile, billionaire investor Kirk Kerkorian has re-purchased the 12 million shares of GM stock he sold in December. His stake in the company now stands at nearly 10 per cent.