More Woes for GM: Hummer and Saturn Back on the Chopping Block
The respective sales of Hummer and Saturn appear to have derailed, leaving General Motors reeling as it tries to pick up the pieces following bankruptcy. GM may now have to eliminate the brands and shut down approximately 350 additional dealerships at a cost of over $100 million!
This is yet another setback for a giant business that was once a preeminent leader in its field. How did things turn so sour? GM focused too much on cheap solutions and short-term windfalls as opposed to building quality vehicles and listening to consumers’ needs. The glut of SUVs produced during the short-lived truck craze is but one example of their greedy knee-jerk management strategy.
Consumers drive the economy (pun intended). As such, it's hard to have sympathy for GM, who did not give the consumers what they asked for. However, it’s hard not to feel for the newly slashed dealers that survived the first round of cuts and were lulled into a false sense of confidence.
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