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For fiscal year 2007, GM's losses for the year were US$38.7 billion, (~$54.8 billion in 2023) and sales for the following year dropped by 45%. [19] On November 7, 2008, General Motors reported it had projected it would run out of cash around mid-2009 without a combination of government funding, a merger, or sales of assets. [20]
The 2007–2008 financial crisis played a role, as GM was unable to obtain credit to buy Chrysler. [citation needed] Sales fell further as consumer credit tightened and it became much harder for people with average or poor credit to obtain a bank loan to buy a car. During 2007, nearly 2 million new U.S. cars were purchased with funds from home ...
The Colorado ZH2 is the product of a joint venture between GM and TARDEC—the U.S. Army’s Tank Automotive Research, Development, and Engineering Center. [8] SURUS - Silent Utility Rover Universal Super Structure Modular military platform GM-U.S. Army collaboration on a modular experimental light- and medium-duty fuel-cell truck platform. [9]
Without a federal loan, GM expects its cash reserves to fall to $10.1 billion by year's end and to fall to $3.6 billion by February. [ citation needed ] Chrysler LLC predicted that for the 2009 model year, 73% of its vehicles will be more fuel efficient than their 2008 models, and the company planned to launch more small, fuel-efficient ...
Some GM and Ford EVs will lose the $7,500 federal tax credit this year, but GM is taking steps to make sure it's only temporary. GM to offer $7,500 discount on EVs that don't qualify for tax ...
Thursday’s data, coupled with a cooling but resilient labor market, is an encouraging sign that the Fed will be able to fulfill its dual mandate and begin easing sky-high rates in September. The ...
10% to 20% off depending on the location. Outback Steakhouse. 10% off for military personnel and their family members. El Pollo Loco. 15% off with your military ID. Jersey Mike’s. 10% off your ...
The General Motors ignition switch recalls refers to February 6, 2014 when General Motors recalled about 800,000 of its small cars due to faulty ignition switches, which could shut off the engine while the vehicle was in motion and thereby prevent the airbags from inflating. [1] The company continued to recall more of its cars over the next ...