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Sales of vehicles from the new General Motors Co. fell more than 20% in August, compared to the same time last year. Of course, a lot has changed in that year. Customers were flocking away from car dealers at the end of last summer as the recession tightened its grip, consumers tightened their wallets, and car sales and associated activities were in the toilet.
Fast forward a year later: GM recently exited bankruptcy as the "new GM" while having jettisoned quite a bit of the baggage that helped push it over the edge earlier this year. GM is still digging itself out of a hole, and the just-completed "Cash for Clunkers" U.S. government subsidy helped it not have a 40% decline year-over-year compared to August 2008.
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