General Motors Corp. (GM) said Tuesday that its third-quarter loss was $24 million less than previously reported because of previously unreported loan sales by its financing arm, which is being sold as part of its North American restructuring.

In a filing with the U.S. Securities and Exchange Commission, the world's biggest automaker said it lost $91 million, or 16 cents a share, in the three months ending Sept. 30. On Oct. 25, GM said it lost $115 million, or 20 cents a share, in the quarter.

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"The reduction in net loss is attributable to additional loan sales that had not been previously reported" by General Motors Acceptance Corp., GM said in its filing.

In April, GM agreed to sell a 51 percent stake in GMAC to a consortium of investors led by Cerberus Capital Management LP, a private investment company. The group also includes Citigroup Inc. and Aozora Bank Ltd.

The sale is expected to bring GM about $14 billion and be completed by year's end.

The automaker's third-quarter financial report showed signs that parts of GM's restructuring were starting to yield results. In last year's third quarter, GM lost $1.664 billion, or $2.94 a share.

Financial chief Fritz Henderson said last month that GM is benefiting from significant cost reductions from its turnaround plan. He said the company is on target to reach $9 billion in annual structural cost reductions this year.

GM's revenues for the latest quarter totaled $48.89 billion, compared with $47.18 billion in 2005's third quarter.

For the first nine months of 2006, GM said its revised loss was $3.025 billion, or $5.35 a share. In October, it reported a loss of $3.049 billion, or $5.39 a share, in the period. In the first nine months of 2005, GM reported a loss of $3.9 billion, or $6.90 a share. Nine-month sales totaled $155.53 billion versus $141.42 billion in 2005, GM said.

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