GM’s Wild Ride to Turnaround

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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.