GM Sales Drop

By: Associated Press
By: Associated Press

General Motors says its August sales dropped 7 percent compared with July, as the shaky economy discouraged customers from buying new cars and trucks.

U.S. auto sales in July were a strong point for the economy, helping to boost consumer spending. But high unemployment and a declining stock market have made people afraid to spend money on big-ticket items, industry analysts say.

Sales last month also fell 25 percent from August of 2009. But last year's sales were boosted by the government's Cash for Clunkers rebates.

GM says sales from its four remaining brands -- Chevrolet, Buick, GMC and Cadillac -- fell 11 percent compared with August of last year. Buick, GMC and Cadillac reported increases. But Chevrolet sales slipped because last year's clunkers program gave a boost to its lineup of smaller cars.

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  • by Anonymous on Sep 1, 2010 at 04:07 PM
    Just let more jobs go overseas.Let prices of so many things go up.Then let gas prices go up.Let more homes be lost by many.Gee what is wrong with the economy?I think it started with greed and is still going strong.What did the government and many big wigs think would happen to the USA?
  • by Anonymous on Sep 1, 2010 at 01:56 PM
    Why does the news sound so stupid. Let me ask a question for you people, does anybody out there doesn't know the economy is very bad right now?
  • by Sales Slump on Sep 1, 2010 at 11:08 AM
    Here's the problem. It's called social engineering, re-distribution and down right stupidity. This whole problem started decades ago when car companies started offering rebates. They manufactured a glut of automobiles and started offering rebates to get the old model years off the lot. The government has been social engineering the citizens of the USA for decades with TAX CREDITS. Guess what it don't work and has back fired because why would any one buy when someone sooner or later will issue another tax credit or rebate. The government needs to revamp the tax code with no credits or incentives. Business need to stop putting out the rebate, sale or discount signs and just charge a fair affordable price up front. When ever I see a sale sign I ask how greedy were they in the first place.
  • by non anonymous on Sep 1, 2010 at 09:37 AM
    GM has stock for sale. LOL
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