GM August Sales Reach 27-Year Low
General Motors released its sales report for August and it showed some of the worst numbers since 1983. According to the recently-troubled auto manufacturer, sales toppled 25 percent from a year ago, partially due to the Cash for Clunkers program of last summer.
GM Struggles to Sell
Despite the fact that General Motors has fought back from bankruptcy to see a $1.3 million profit in the second quarter, it is still struggling to sell cars. According to the manufacturer, August sales dropped 7 percent from just a month prior as tracked by Edmunds.com and TrueCar.
There are a few reasons that car sales have struggled for the auto maker:
- Cash for Clunkers: The Cash for Clunkers program, which was very successful in moving cars with every dealer, left many with grim comparisons to make later.
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