GM to return to huge financial losses
The automaker's new Silverado pickup trucks are included in the incentive program, which runs through April 3. GM, which swung to a profit in the fourth quarter, saw U.S. sales increase nearly 4% in February. The automaker said it had reduced incentives too much in January, leading to a 20% decline in U.S. sales.
So in essence GM has to give cars away at zero profit or else sales decline 20%. So much for NASCAR helping them sell cars. Despite dominating NASCAR for the past two years, it's clearly not equating into car sales. In fact the Monte Carlo, which it races in NASCAR, is selling so poorly Chevy, like Ford with the Taurus, will be ditching that nameplate and switching to the Impala. That's right Chevy is going to race a grandmother car in NASCAR. Toyota is doing the same with its Camry nameplate. We wonder if NASCAR can help kill off that one too. After all, the Toyota Camry teams seldom even qualify for a race. Yeah that sells cars. Right. If you believe that, we have a bridge we would like to sell you.