When the sales of all American SUVs began to plummet as the price of fuel escalated, GM was the hardest-hit of all the Detroit-based auto manufactures. In 2006, GM recorded the second-largest loss of any corporation in U.S. history ("General Motors, 2008, Histomobile). On December 21, 1955 it was the first American company to make over one billion dollars in a year ("General Motors," 2008, Histomobile). Today, GM "is feeling good about the automaker's progress, especially in the troubled heart of its business: making and selling cars in North America," as it reached a historic agreement with the United Auto Workers "to push responsibility for retiree health care off GM's books, a burden" that had been adding an estimated "$1,400 to the cost of every car and truck" GM manufactured in North America (Taylor 2008:1). But only time will tell if the latest GM cars designed to create new consumers and draw old consumers back, specifically the Buick Enclave, Cadillac CTS, Chevrolet Malibu, can match the allure and reputation of a Toyota, a Honda, or even a BMW (Taylor 2008:1). GM has lost its image for quality manufacturing, and even when industry trade magazines have praised some of its models, consumers have still shied away, particularly American consumers on the East and West...

But abroad, GM is actually doing better than it is at home, in areas of the world where the desire for classically styled, luxury American models is expanding, along with a newly affluent middle class -- "GM's sales jumped by 75% in Russia and by 21% in China," the same year GM was $39 billion dollars in the red" (Clark 2007:1).
Works Cited

General Motors." (2008). Histomobile. Retrieved 20 Jan 2008 at http://www.histomobile.com/histomob/internet/307/histo02.htm

Clark, Andrew. (8 Nov 2007)." GM records second-biggest loss in U.S. corporate history with $39bn deficit." The Guardian. Retrieved 20 Jan 2008 at http://www.guardian.co.uk/business/2007/nov/08/generalmotors.usnews

Explore GM History." (2008). GM. Official Website. Retrieved 20 Jan 2008 at http://www.gm.com/corporate/about/history/

Loomis, Carol. (6 Feb 2006). "The Tragedy of General Motors." CNN.com. Retrieved 20 Jan 2008 at http://money.cnn.com/magazines/fortune/fortune_archive/2006/02/20/8369111/index.htm?postversion=2006020612

Taylor, Alex. (7 Jan 2008). "Gentlemen, start your turnaround." CNN.com. Retrieved 20 Jan 2008 at http://money.cnn.com/2008/01/07/news/companies/gm_turnaround.fortune/index.htm?postversion=2008010803