Seeking Sales Bump, GM Targets Middle East

As US sales slide, GM looks overseas to unload gas-guzzler unit

(NEWSER) - There may soon be more Hummers heading to the Persian Gulf, this time as two Gulf Arab investors signal interest in buying GM's troubled brand of SUV—modeled on the military vehicle. Analysts have expected the gas-guzzler to be tough to unload, but low fuel prices, economic prosperity, and Hummer’s position as a status symbol in the Gulf have made it quite popular. More»

(NEWSER) - Recession be damned, desire for the 2010 Chevrolet Camaro far outstrips supply—and some dealers are even charging a premium for the sporty new ride, USA Today reports. “Our current production schedule can’t meet the demand,” a General Motors spokesman said. But “that supply-demand tension is good. We don’t want to over-produce, nor do we want people waiting an unreasonable amount of time.” More»

Only Cadillac, Chevy deemed safe as automaker struggles to return to profitability

(NEWSER) - GM is considering slashing thousands of white collar jobs, while simultaneously selling off or discontinuing even more brands, the Wall Street Journal reports, in a furious attempt to return to profitability. For years GM has resisted shrinking its large stable of brands, even as rivals Ford and Chrysler committed to downsizing, but with its stock price at a 50-year low, a shakeup is in the wind. More»

2011 disasters knock Toyota into 3rd place

(NEWSER) - General Motors is back on top of the world less than three years after its bankruptcy and restructuring. The company is once again the world's top-selling automaker, with 9 million sales worldwide in 2011, almost a million more than second-placed Volkswagen. Toyota, which took top spot from GM in 2008, fell into third place after production cuts caused by the earthquake and tsunami in Japan and flooding in Thailand. More»

Chrysler, VW saw huge gains

(NEWSER) - Americans may be worried about the economy, but they still need to get where they’re going. Auto sales beat expectations last month, rising 14% to 994,721, their fastest sales pace since August 2009, reports the AP . Chrysler led the pack: The automaker’s sales jumped 45%, Reuters reports. Close behind was Volkswagen, whose sales soared 41%; Hyundai, Nissan, and Ford also saw double-digit gains. More»