Are you prepared for Wrath of the Lich King? WoW Insider has you covered!

GM stock drops below $10 per share

After Merrill Lynch hinted bankruptcy concerns yesterday, and other Wall Street analysts spread additional gloom, shares of General Motors dropped $1.77 to close at $9.98 -- GM's lowest close in more than 50 years. While GM stock on Tuesday showed a bit of promise on the news that sales only dropped 18.2 percent in June (yes, it was supposed to be worse), nothing could slow the fall on Wednesday. Unfortunately for GM, the light at the end of the tunnel seems a far way off. Sales are plummeting, and those vehicles that do leave the lot are padded with generous financing and rebate offers (experts quickly point out that incentive-laden sales gains are often followed by slowdowns). With eight brands, 13,000 franchises, and a falling market share, many have begun (or continued) to question GM's ability to survive without insolvency.

[Source: Detroit News]

Related Headlines

Subscribe to these comments

Reader Comments (Page 1 of 5)

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.


Autoblog Features



Featured Galleries

In the Autoblog Garage: 2009 Jaguar XF Supercharged
BRABUS C63 AMG
Mazda Kiyora Concept
2009 Mazda MX-5
2009 Honda Legend
Renault Megane III
Vehicles of Burning Man 2008
HSV ClubSport R8 Tourer
First Drive: 2009 Cadillac CTS-V
The Ferrambo
Mehrzeller Caravan Concept
2009 Honda Civic Coupe

 

Find Your Next Car


Sponsored Links

Autoblog bloggers (30 days)

#BloggerPostsCmts
1Jeremy Korzeniewski1061
2Noah Joseph1020
3John Neff7414
4Jonathon Ramsey670
5Chris Shunk541
6Damon Lavrinc505
7Sam Abuelsamid3913
8Drew Phillips342
9Dan Roth342
10Michael Harley283
11Alex Nunez2212
12Sebastian Blanco190
13Chris Tutor100
14Frank Filipponio81
15Justin Gardiner60
16Merritt Johnson52
17John McElroy30