On the day after GM’s CEO was forced to resign and the company’s bankruptcy more certain, I read a New York Time’s review of the 2010 Toyota Prius. The review is entitled “Hybrid Superstar Shines Brighter,” and hightlight’s the car’s increased size for passengers while increasing the car’s MPG to over 50 miles a gallon.
Meanwhile, back in GM-land , the New York Times yesterday ran an article about Hummer. enitled “Hummer’s Decline Puts Dealers at Risk.”
General Motors cheered him on, he says, telling him he could eventually sell as many as 1,300 Hummers a year — which start at more than $30,000 and can cost more than $100,000, not to mention the thousands that many owners spend on accessories — more than enough to cover his monthly mortgage payment of $60,000. He sold 70 new Hummers a month when he opened the store, but now sees only a handful of customers each month. “That doesn’t even pay the interest on my inventory,” Mr. Lynch said. “Now I’m lying awake at night trying to think of what I can do with this big, beautiful building.”
It is tragic to see a once grat American company like General Motors go under, but who do they have to blame but themselves?
The same could be said for the rest of our economic problems.