Word: gm
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Dates: during 2000-2009
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...GM declares plans to close 1,200 U.S. dealerships...
JULY 5 A federal judge allows GM to sell the Cadillac brand and other assets to a new company owned primarily by the U.S. government...
...JULY 10 GM emerges from bankruptcy. Former AT&T head Edward Whitacre takes over as chairman...
...most vulnerable? While 50 to 60 days' supply of cars is considered ideal, Chrysler is sitting on a 71-day supply and GM has an 82-day supply even after keeping most of their factories shut since the beginning of May. Some foreign-based automakers had even higher numbers: Suzuki has a 108-day supply, Jaguar dealers are sitting on a 92-day supply, Mitsubishi stands at 84 days and Mazda has 78 days of supply, according to estimates from dealers collected by J.D. Power & Associates. Honda, which traditionally has kept inventories lean, has a generous 64-day supply; Daimler...
...plans to match the federal rebate dollar for dollar. Any consumer shopping for a new vehicle will qualify for the program, which offers up to $4,500 for the purchase of an eligible 2009-model-year Chrysler, Jeep or Dodge vehicle through the Double Cash incentive. Mike DiGiovanni, GM's general director of market analysis, says the federal program is also expected to encourage consumers who have leased vehicles in recent years to get back into the buying market. At the very least, DiGiovanni hopes to arrest a frightening trend: more than 50% of the buyers who have turned...