![]()
2008 is half way over and its been a very difficult six months for most automakers. GM which saw its sales decline 16.3 percent so far this year may be thinking about cutting even more jobs and possibly selling off some of its brands.
Spokesman Renee Rashid-Merem said that she could not confirm if GM is actually going to do any job cuts or sell off brands, but she did confirm that GM would look at these options if the US market gets worse. Last month GM announced the closure of four truck and SUV plants and that the automaker is going to boost production of several existing car models. Further job cuts will be discussed by GM’s board of directors early next month.
Currently GM has $24 billion in cash and $4.6 billion in credit. According to JPMorgan analyst Himanshu Patel, GM will burn through $18 billion in 2008 and 2009, but the automaker doesn't need to raise money immediately.
It's already been confirmed that HUMMER is on the auction block, but GM will not confirm if any of its other brands could soon be joining HUMMER.
Full Story: msnbc
Related Stories:
GM is Going to Close Four Truck Plants and Maybe Kill or Sell HUMMER
Pontiac Mulls the Idea of a V6 Powered G8 Sport Truck aka El Camino
| « Previous | Next » |

Comments (26)
The question is who's clueless enough to buy one of GM's brands? Then again, Kia Hummer has a certain ring to it.
Posted by Tommy Boy | July 7, 2008 3:42 PM
Posted on July 7, 2008 15:42
Good riddance, Hummer!!
Posted by D! | July 7, 2008 3:44 PM
Posted on July 7, 2008 15:44
That's funny...last time I checked, if you were looking to sell something you had another party that showed some sort of interest in buying... who hell is trying to buy HUMMER ?!?!
Posted by gilly | July 7, 2008 4:01 PM
Posted on July 7, 2008 16:01
Everyone has been like, "Why haven't they seen this coming...?"
I'm more like, why do we have GMC and Chevy? REALLY? Do we need the exact same truck, with just different body panels? REALLY? It's okay to have the same platform work on a couple of cars, but that's really just a waste of money.
Posted by Brian | July 7, 2008 4:51 PM
Posted on July 7, 2008 16:51
I for one will not buy anything with a bow tie on it for any number of reasons, and there are many other GM faithful who will say and do the same. My Sierra looks nicer then a Sliverado. My Sunfire looks nicer and has higher resale then my sister's same year, same spec Caviler. GM's problem is the try to give every brand every platform and you just can't do that. You are competing with yourself at that point then. Chevy doesn't need a Transverse and Pontiac doesn't need a G3 for example.
Posted by Avatar | July 7, 2008 5:55 PM
Posted on July 7, 2008 17:55
another moronic statement by a US company:
'selling-off' means you have a willing buyer.
When you dont have a buyer, it is called 'liquidating'
Posted by lowest iq | July 7, 2008 6:04 PM
Posted on July 7, 2008 18:04
I pity the salesmen that are stuck with the task of selling those things. For people driving them, it's like advertising the fact that you are stupid.
Send em to the compactor and save everybody the trouble.
Posted by Bill | July 7, 2008 6:30 PM
Posted on July 7, 2008 18:30
@ Avatar
"Sunfire looks nicer and has higher resale than my sisters Caviler"
ROTFL, ROTFL, ROTFL, only a redneck would use all these words in the same sentence.
Let me guess, your sister is also your wife but even you're too ashamed to admit it?
Posted by Noya | July 7, 2008 7:38 PM
Posted on July 7, 2008 19:38
sun fires are ugly
Posted by cobaltssman | July 7, 2008 9:09 PM
Posted on July 7, 2008 21:09
Oh, I am sorry Noya. I believe I live north of the Masion-Dixon Line and don't support the stars and bars. And I don't have a wife. But I still have a house and 5 vehicles sitting in the garage.
And cobalt, I don't do the looks wars. Styling is an opinion. You have yours, I have mine.
Posted by Avatar | July 7, 2008 10:32 PM
Posted on July 7, 2008 22:32
Both the Sunfire and the Cavalier are ugly as sin. Satisfied now?
Posted by Tommy Boy | July 7, 2008 11:45 PM
Posted on July 7, 2008 23:45
GM: Because someone has to make rental cars.
Posted by Dan | July 8, 2008 4:16 AM
Posted on July 8, 2008 04:16
GM: Because someone has to make rental cars.
Posted by Dan | July 8, 2008 4:17 AM
Posted on July 8, 2008 04:17
Dan, I dunno. I was given a choice between a Sierra and a Highlander yesterday and it took me about 3 nanoseconds to choose the Toyota.
If GM would make quality cars at a reasonable price that people want, maybe they wouldn't be drowning right now. Thank you American labor unions. You are killing off an American icon.
Posted by WVO | July 8, 2008 6:59 AM
Posted on July 8, 2008 06:59
The Sunfire and Cavalier are both horrendously ugly, unengaging, classless, and disposable... just for the record.
Posted by matt | July 8, 2008 7:01 AM
Posted on July 8, 2008 07:01
Yup. Guess that's why the handling on my Sunfire reminds me of an Audi A4, not quite as tight but much more nimble. Then as for the Japs, I went and spent 2 grand, and I am making 255 hp to the wheels. Is that a faster, more fuel efficient car then what they make at this class? Why yes it is, it costs less, and is 4 years old at this point.
Sierra vs Highlander, that's a great comparison. One is a full size truck, the other a 'mid' size SUV. Hope the frame doesn't rot out on you and/or you have cam shafts and/or your crank snap.
Anyone else want to try to give an opinion that isn't looks based and/or an argument that actually has a fact in it?
Then again, if we want to do looks: BMWs are covered in plastic and all look the same. Audi's interior reminds me of my Sunfire with some leather. Honda can't make up there mind as to whatever they want all their cars to look like trucks or tiny pos. Toyota makes the most boring cars in the land, Saturn's look better and more interesting and those things are horrible too. Volkswagen makes over priced pos that look nice, I will give them that, but break down every 5 miles, 6 if your lucky. Chevy's are rather bland and utilitarian. Dodge's are just plain ugly. Acura is a joke now, we will change the grill and make the car ugly and call it new. Hummers are tanks, they look and drive like them. Caddy's actually look nice, but it is GM, so must bash. Ford is another one with bland styling. Pontiac actually tries to break from the norm, but gets based because at the end of the day its still GM. Buick is for old people, need I say more? Lincoln is nothing more then a Ford with chrome, aka riced out. Mercury is the middle ground of ricing for Ford. GMC's look much more refined then Chevy's, but it is still a GM product.
Posted by Avatar | July 8, 2008 7:51 AM
Posted on July 8, 2008 07:51
@ Avatar
"Toyota makes the most boring cars in the land..."
You sure do have bad taste in cars Avatar!!! "Toyota Camry S" has sexy styling with a powerful, yet efficient V6 and a sporty suspension for fun handling. The 381 HP TUNDRA has such a big massive, bold look to it with that meaty V8 and a six-speed tranny to back up my complementary statement, not to mention huge brakes!!! The Land Cruiser is the complete definition of a luxury off-roader with crawl-control and hill-start assist.
"Ford is another one with bland styling."
You must have forgotten about the exotic looking "Ford GT" and the American muscle "Ford Mustang GT" convertible!!!
You typed a very foolish blog Avatar!!!
Posted by Saheed | July 8, 2008 9:16 AM
Posted on July 8, 2008 09:16
@Avatar
You forgot Lexus- rebadged Toyotas or aka japanese Buicks, Mercedes Benz- worst reliability but great looks, Nissan- ugly ass vehicles with s hi t interiors, Infiniti- overpriced rebadged Nissans, Saab- (the other dead GM brand) born from UGLY!, Vulva- I mean Volvo can you say BOX not the safest anymore either, Chrysler- Same as dodge just pimped out, Land Rover- hmmmm same look since forever, Jaguar- Sexy but depreciating pieces of sh it, and Porsche- either love the look or hate it but been around for a while. Did I forget any?
Posted by Cappy | July 8, 2008 9:25 AM
Posted on July 8, 2008 09:25
It seems pretty dumb to sit here and bash all the car companies. What a waste of time. Back to the subject at hand. GM is smart to try to dump off Hummer and Saab they were dumb for buying Saab in the first place seeing as they haven't learned anything from them (like using turbos to reduce weight and slighty improve fuel efficiency) and have even wrecked what Saab is about with a rebadged trailblazer the 9-7X which drives nothing like a Saab. What the hell is GM thinking?
Posted by Cappy | July 8, 2008 9:31 AM
Posted on July 8, 2008 09:31
...why would anyone admit they drive a sunfire??
Posted by vlad | July 8, 2008 9:36 AM
Posted on July 8, 2008 09:36
@Saheed
Did you get those lines out of Toyotas brochures? Come on man. Toyota is bland!!!!!! I do however agree with you on the Ford GT I like it a lot!
Posted by Cappy | July 8, 2008 9:38 AM
Posted on July 8, 2008 09:38
I simply wrote my feelings for... I mean what I think about Toyota, but I am glad that you agree with me about my dream car: The "Ford GT"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted by Saheed | July 8, 2008 9:47 AM
Posted on July 8, 2008 09:47
@ Vlad
I admitt (but not proud of it) that I purchased, and now drive a Pontiac Sunfire in my favorite video game for playstation 2,
Gran Turismo 4.
Yeahhhhhhhhhh!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Bye
Posted by Saheed | July 8, 2008 9:51 AM
Posted on July 8, 2008 09:51
Yea, a meety v8 that has the crank and cams snap in it. Then the frame rots out after a few years. I am not exactly into the big rig look either. If I want a big rig, I will get a big rig. That is the reason why I won't be trading in my curent Sierra anytime soon.
I wouldn't call a Camry sexy either. That is something I would reserve for, I don't know, Aston Martin maybe. Nice, sure, sexy, no.
The Ford GT isn't made anymore, lack of demand I believe it was. Didn't care for the look of it, though it was a performer no doubt. As for the Mustang, this generation are fun to drive, but I don't care for the retro thing. Last gen had had fake vents all over it and no power. I prefer the GTO, the original muscle car, over it. Granted, the new ones didn't get back to their roots, but I was happy they moved it upscale instead of another Trans-Am. Much nicer, better ride, funner to drive, faster, more powerful then a Mustang GT.
And thank you Cappy for bringing my point up.
Posted by Avatar | July 8, 2008 9:52 AM
Posted on July 8, 2008 09:52
@Avatar
The Ford GT stopped selling mostly because of it's high production cost (mid-engine rear-drive means advanced chassis and design and a stronger protective firewall with sound deadening material) but then again, that drives us right back to lack of demand for it, hence making this blog pointless. I posted it anyway!!!
Posted by Saheed | July 8, 2008 10:35 AM
Posted on July 8, 2008 10:35
Its going down with the "real" cars right now. I'm a huge fan of American Muscle Cars and of all these powerful V8s. But in a matter of fact world wide high gasoline prices let car builders have to rethink their products, especially for the American market.
The time of the big engines will be over.
The American automobile industry is thinking of V6 instead of V8 now. But the future will be small engines which archive high mileage.
can not believe why GM has difficulties to implement cars with high mileage. They already have these cars build in Europe.
80% of the cars in Europe are four bangers which are not bigger than 2.0 liters. These technologies reach 35mpgs and have more than 100 HPs. It is all an result of high gas prices we have round here for years. Why would these technologies are not sold in the US?
OK a few cars were built. But GM shouldn't be amazed about low selling SUVs when they still have V8s under the hood. Why don't they give diesel V6 options or built lighter frames and stuff.
And "hell yeah" why does GM is creating platforms of car types to sell one car under different brands?
Posted by Jack | July 9, 2008 12:40 AM
Posted on July 9, 2008 00:40