What Happened to GM?
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 recent history, things are changing. GM’s stock is in junk status, they are over $300 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 companies do a lot of their assembly in Mexico. So, the competition that is taking over GM’s top spot is incurring similar expenses. I think the real problem is the poor quality and the design of the cars. As someone who used to only buy GM vehicles I can say I wouldn’t even consider buying one again. I find th
