Real estate prices have plunged by more than 50 percent on many properties.
At the time it said that revenue from its American operations had plunged by 31 percent, or $550 million for the year.
Sales could plunge by 9 percent, or 1.2 million cars, he said.
At the same time, the value of the rupee has plunged by 30 percent.
The company's stock plunged by $7.44, or 16 percent, to $37.98.
High school enrollment has plunged by 27 percent over the last decade.
Its car sales plunged by 64 percent, to 380,563 in 1993, from a high of more than one million in 1985.
From 1989 to 1993, Cuba's foreign trade plunged by 72 percent to $4.1 billion.
The company also said that its earnings for the first quarter had plunged by 57 percent.
But since then its shares have plunged by 69 percent, more than many big Internet companies.