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.

About a month after receiving bailout funds from taxpayers, General Motors Corporation (NYSE: GM) has slashed its sales estimates for 2009. The previous range had been 10.5 million to 12 million cars and trucks, but now GM says it is expecting just 10.5 million.

Doesn't that seem a little funny to you? It's always a big red flag when a company goes out and raises cash from investors and then slashes its projects once the money is in the bank. Has so much changed since GM received the $13.4 billion in loans?

GM will have to present its viability plan to lawmakers by March 31st, and is using the new sales estimate to demonstrate that it can return to profitability and repay the loans.

But will GM make the presentation to appease Congress and then turnaround and slash its estimates again? If history is any indication, it could do just that.

This post is part of a feature on companies and products that our bloggers think are in need of a makeover. See all 26.

General Motors Corp. (NYSE: GM) will never be the same. The American manufacturing icon is in the worst shape of its life in the past five decades, it's not selling the larger vehicles that have been its bread and butter for years and its stock is absolutely in the tank. It's also shutting down factories as it feverishly tries to reinvent itself. After all, Madonna has done this many times -- so why can't GM?

Okay, that's an unfair comparison. But for long-term survival, companies always need plans to rapidly change with the times, even if the money needed for that flexibility conflicts with the incessant market need for quarterly expectations. After all, like we've seen this week, the market is more emotional than a 14 year-old girl. It always will be. So, what can GM do? It's hard to say, but time is of the essence. Makeover times in this age should take double-digit months, not double-digit years.

Wipe off the dribbling eye shadow, visit Neiman Marcus, and get an extreme makeover -- that's what. Since GM really doesn't have a cash pile like some other blue chip companies, can it pay for a makeover? Doubtful. Can companies reinvent themselves with marketing and image? Sure, this happens all the time.

Is General Motors Corp. (NYSE: GM) really making a better car than it was just six years ago? According to GM CEO Robert Lutz, that is precisely what is happening. GM's current stable of brands and cars is being particularly well-received this year, from the Buick Lucerne to the Saturn Aura. Problem is, sales aren't living up to the newfound reputation.

In a way, this is to be expected. I can't go a week without someone telling me of a recent horror story with a GM car or truck that burned them "for life" on GM. It's not that GM is so bad (every company has bumps in the road), but it's that there are so many competitors with a consistent track record to choose from. Changing the "hearts and minds" of the American car consumer will take a while, but GM's investors may not want to wait -- like any impatient financial entity.

Can GM overcome the fear of risk aversion so many American consumers have about its brand, regardless of the actual reliability and competitiveness of its cars and trucks? That's a hard question to answer, and one only the consumer, over time, will be able to answer. The foreign competition will do anything but sit still in the interim, so if GM is really serious about winning back the American consumer, it's going to take more than expensive and slick marketing. A track record of years and years of superior reliability and satisfaction numbers will be only the start.

Toyota (NYSE:TM) has enough problems. It lost its No.1 place in the Consumer Reports reliability survey. It had to recall several thousand of its cars in Japan. It trades near its 52-week low.

According to Bloomberg "GM (NYSE:GM) sold 7.06 million vehicles through September, taking a lead of 10,000 units over Toyota's 7.05 million, the two companies said in separate statements. At the end of the first half, Toyota led by 39,000 vehicles. "

Toyota loyalists might well ask what happened. GM is doing well in South America and holding it own in Europe. But, to a large extent the biggest US car company has built a China strategy which puts it in the lead in that market neck-and-neck with VW.

But, most important, GM has stopped its sales slide in the US. In each of the last two months sales have been flat to slightly up, and it appears that its new models are catching on. Its crossovers are selling especially well as are its new and more fuel-efficient sedans.

With a new UAW contract under its belt, GM now has a chance to build cars in the US for about the same cost as Japanese rivals. GM may not only sell more cars. It might also make money on most of them.

Douglas A. McIntyre is an editor at 24/7 Wall St.

General Motors Corp. (NYSE: GM) saw a profitable Q2 period when it reported results yesterday, blowing past analyst estimates and recording its third straight profitable quarter. What made such a turnaround happen? It was not U.S. sales (which dropped from a revenue standpoint), but overseas sales bolstered GM's Q2 sales in excellent fashion.

So, that begs the question: what is going on with the automaker's sales in the U.S. right now? Are incentives working? Is GM having unexpected issues with the UAW? How much more can it cut costs in the U.S. region to ensure it can strive to make sure consistent profitability occurs in its home market?

Some of those questions may be asked today as GM reports its July U.S. sales results, which will probably have quite a bit more somber tone than the great quarter the automaker just reported on yesterday. We'll see. Remember to use the "Refresh" key on your web browser to see all the updates below, which will happen ever few minutes. All times below are in EST.

Although General Motors Corp. (NYSE: GM) saw a pretty disappointing June in the U.S. -- sales were down 24% -- the automaker's India division saw an increase of 43% during the same period. Quite a disparity, eh? GM's Chevrolet brand is cited as one of the reasons why the global automaker did so well in India this past month. Even so, in terms of absolute volume, GM's India sales of 4,779 vehicles in that country pale in comparison to over 326,000 vehicles sold in the U.S. in June.

The bulk of GM India's sales were smaller, fuel-efficient cars and midsize SUVs like the Chevy Aveo, Optra, Tavera and Spark (some of those are not available in the U.S.). Can GM continue increasing its market share and volume sold in one of the most heavily-populated nations on the face of the planet? If so, GM's rescue won't come at the hands of product and fuel innovations in the U.S., but from international sales.

Yes, that sounds pretty goofy -- GM's sales volume in India is a pittance compared to the U.S., but what keeps the automaker from becoming the manufacturer of choice in certain growing international locations? GM predicts a 10% share in India by 2010, and with a new India plant having a yearly capacity of 85,000 units, it may just get there.