GM’s Wild Ride to Turnaround


Gen­er­al Motors and the oth­er Detroit automak­ers are on a wild ride as they work to turn around their busi­ness­es. They face com­pe­ti­tion from import com­peti­tors, chang­ing buy­ing pat­terns as a result of high­er gas prices, and a slow­ing econ­o­my. In addi­tion, GM is fac­ing the loss of rev­enue from a pro­longed strike at Amer­i­can Axle and stag­ger­ing real estate loss­es at GMAC. The automak­er is hop­ing the sec­ond half of 2008 will be bet­ter and the ride smoother.