Gm was once the biggest automaker in the world by far. This reign at the top lasted for decades. But, with news that Toyota is on pace to take over the number one spot sometime next year, based on projections and Gm's modern history, things are changing. Gm's stock is in junk status, they are over 0 billion in debt, they are losing market share to the Toyota's , Nissan's, and Honda's of the world.
Gm likes to blame a lot of their problems on increased employee expenses in the United States due to the unions. This is a small factor I am sure, but mostly just an excuse. Toyota and other foreign automakers manufacture their cars in this country as well. In fact, the American car fellowships do a lot of their assembly in Mexico. So, the competition that is taking over Gm's top spot is incurring similar expenses.
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I think the real question is the poor capability and the manufacture of the cars. As man who used to only buy Gm vehicles I can say I wouldn't even reconsider buying one again. I find the manufacture and look of the cars to be unattractive, I also feel the capability of their cars is inferior to their foreign competitors. While they clearly have not put as much endeavor into their cars as their competition, their prices somehow still remain equal with the competition. The emblem prices on the cars are similar I should say, but the promotions being used by the Big Three American automakers to sell cars is much different. Even with the sales promotions all three fellowships are still losing market share. Toyota gains market share every year and they have not had to offer an employee discount or a red tag sales event. They just build high-quality vehicles and that is all the promotion they need.
People work very hard for their money these days. It has become increasingly more difficult for families to make ends meet. The internet offers big opportunity for buyers to research a goods before production a purchase. Given how vital people's money is to them you can't blame them for spending it as wisely as potential and seeing for the best value.
It is unfortunate that such an massive business is now doing so poorly but they have nobody to blame but themselves. The supervision over the years has made poor decisions that has brought them to the place they are now. The supervision turned their back on the habitancy of this country by attractive jobs face the business and also by charging them excellent prices for inferior products. Now the habitancy of this country has turned their backs on Gm.
What Happened to Gm?