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The company's net sales for the third quarter of 2009 were $409.6 million, compared to $528.1 million in the third quarter of 2008.
For the nine months ended September 30, 2009, American Axle & Manufacturing (AAM) has reported a net loss of $301.7 million or $5.83 per share, compared to a net loss of $1.1 billion or $21.55 per share in the first nine months of 2008.
Net sales for the first nine months of 2009 were $1.1 billion, compared to $1.6 billion in the same period of 2008.
Richard Dauch, co-founder, chairman of the board and CEO of AAM, said: "We believe the third quarter of 2009 marks a positive turning point for AAM. By finalizing new business agreements with General Motors Company and amending our senior credit agreements, we have successfully resolved the short-term liquidity concerns that were facing AAM."
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