Despite recent reports to the contrary in the Wall Street Journal, General Motors (GM) is not considering discontinuing or selling any of its brands other than Hummer, according to a meeting Mark LaNeve, VP of Sales for North America, had with its dealers. Regardless of its official position on the matter, there are definitely some major changes on the horizon for GM. It is faced with a 16 percent decline in sales this year (compared with an industry-wide decline of 10 percent). Stock analysts believe the company needs to raise $5 billion to $15 billion in cash in order to stem its ongoing losses and high expenses, and if it doesn't, bankruptcy is a possibility.
General Motors has put its Hummer brand up for sale.
In yesterday's post, I addressed whether you should be concerned if you are buying a car from one of GM's eight b...