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Thursday, 16 October 2008 |
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Filed under: Car Buying, Marketing/Advertising, GM, GMC, Earnings/Financials  After announcing earlier this week that GMAC would only finance customers who hold credit scores higher than 700, General Motors has decided it would be prudent to reassure consumers that they are still in the business of securing loans and selling vehicles. Starting Friday, GM will launch a "Financing That Fits" campaign on a national level. Through advertising on television, newspaper, radio, and the Internet, GM will promote dealer financing with GMAC Financial Services and, for the first time, with other lenders. To further restore consumer confidence, the ads are also designed to promote the experience and expertise of the dealership professionals who work in finance and insurance. The economy has taken a serious toll on GM's showroom traffic over the past few weeks, and the announcement Monday of stricter lending policies dried up business even further. The automaker is hopeful that its new ad campaign, and cash-back deals of up to $6,000 on every 2008 vehicle left in stock, will bring them back in.
[Source: Automotive News, subs. req'd] Permalink | Email this | Comments |
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Monday, 13 October 2008 |
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Filed under: SUVs, Plants/Manufacturing, Chevrolet, GM, GMC 
General Motors has announced that it wil close its SUV plant in Janesville, Wisconsin by the end of this year in response to the woeful market for utility vehicles. The plant produces the GMC Yukon and Chevy Suburban and employs 1,200 UAW workers. GM was originally planning to shutter the plant sometime before 2010, but deteriorating market conditions have expedited the plant's demise. The news comes only one week after the General announced that it would be closing its Moraine, OH SUV plant early, as well.
Some analysts think GM could pull the plug on its Oshawa truck plant and Mexico facility in Toluca early too since truck sales are down as well, as GM has already announced that those plants are slated for closure. GM top dog Rick Wagoner stated last week that some stamping facilities could also face closure to help align production capabilities to demand.
[Source: CNN Money]Read | Permalink | Email this | Comments |
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Monday, 06 October 2008 |
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Filed under: SUVs, Hirings/Firings/Layoffs, Chevrolet, GMC, Saab, UAW/Unions  Looks like that Moraine, Ohio plant that was going to be shut down next year is actually going to be shuttered on December 23rd, just in time for Christmas. This is the plant responsible for production of the GMC Envoy, Chevy Trailblazer and Saab 9-7X. The General had already slowed the plant to just one shift as SUV sales, particularly sales of old SUVs like these, continue to tumble, but the plant was expected to remain open until at least early next year. On Friday the remaining 1,100 workers were gathered and told of the revised plan.
The closure isn't a total surprise, as General Motors had already announced that the Dayton-suburb plant would be closed so the company could focus more on production of small cars. That initial announcement seemed to indicate a 2010 closure, but the company has continually revised the closing date until this most recent word came. Moraine is one of four GM plants that are going to be shut down. When Janesville, Wis.; Oshawa, Ontario; and Toluca, Mexico join Moraine in closure, a total of 8,350 workers will be looking for new jobs.
[Source: Detroit News]Read | Permalink | Email this | Comments |
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Friday, 03 October 2008 |
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Filed under: Hybrid, Chevrolet, GM, GMC, Saturn 
In yet another dismal sales month here in the U.S., General Motors actually did better than many companies with only a 15.8 percent drop in September compared to last year. There were even some bright spots in the numbers with the Malibu being up 192 percent and the Vibe jumping 91.1 percent. GM's hybrid models are also continuing to gain ground with 1,957 units moved during the month. The combined total of Tahoe and Yukon Two-Mode Hybrids topped 1,000 for the first time and the Malibu and Vue mild hybrids held steady at 382 and 443 respectively. The new Escalade hybrid still hasn't climbed into triple digits and the Saturn Aura still doesn't seem to be more than an afterthought with 31 sales. All together, GM has sold 9,053 hybrids through nine months. That doesn't go far toward offsetting the 50 percent drop in sales of the normal Tahoe and Yukon, but it's a start.
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[Source: General Motors]Continue reading GM moves nearly 2,000 hybrids in September Permalink | Email this | Comments |
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