Does America have Total Confidence in GM?
General Motors came up with a new plan for cutting costs, and may just be able to keep the White House writing checks a little while longer so the company can stay afloat. The plan calls for GM to close over 40% of their dealerships and eliminate the Pontiac brand.
The dealership closures will result in over 137,000 jobs being lost. State tax revenue losses will be in the Billions. Of course, the only way to save GM or Chrysler is for Americans to buy American brands. It may already be too late for GM and Chrysler, but luckily the US has one brand of vehicle that will be able to weather this economic storm.
The new Ford Fusion, Taurus, Flex, Edge, Mustang, and F-150 are great vehicles. You will think so too once you have driven one. Read the reviews and you will find that Ford Motor Company is actually making outstanding vehicles. I just bought my wife a new Edge, and she loves it.
Holden the Australian arm of GM have just been granted a $200m line of credit by the government (last Friday). Whether it will really help the company remain profitable remains to be seen as the company is still reliant on it’s large car production of which sales are still trending down..