The News Review:
- US Auto Sales Near 10 Million; Executives Keep Eye n Creeping Gas …
- General Motors stays on track for auto racing
- May Auto Sales: General Motors
- States feel the pain on auto dealer row
- Auto workers communities ponder life without GM
US Auto Sales Near 10 Million; Executives Keep Eye n Creeping Gas …
CNNMoney.com
auto sales edged toward the 10 million mark in Maylifting car maker hopes that the industry has finally reached bottomed. The annualized selling rate came in at 9. 91 million new cars and trucks forthe month of May jumping from April’s level of 9. 3 million according toAutodata Corp. The increase coupled with some economic recovery signs in different regionsin the world prompted General Motors Corp.
General Motors stays on track for auto racing
Detroit Free Press
com | Detroit Free Press. ‘s long and successful involvement in auto racing.
May Auto Sales: General Motors
The Associated Press
said Tuesday that its May U. vehicle sales dropped 29 percent but showed significant improvement from their April levels. GM sold a total of 190881 light vehicles down from 268892 in May 2008. Light truck sales dropped 20.
Related from Sales-monster: March Auto Sales: Kia sales remain about flat
States feel the pain on auto dealer row
CNNMoney.com
com) — The downfall of the American auto industry is wreaking havoc on state and local budgets from coast to coast. The decline in auto dealerships coupled with the drop in car sales is costing states and municipalities millions of dollars in lost sales taxes not to mention lost income and property taxes and other fees. Though exact numbers aren’t available car purchases account for about 12% to 15% of sales tax revenues in many states estimates the Center on Budget and Policy Priorities. And sales taxes usually account for about one-third of a state’s revenue. As the recession deepens state tax revenues have fallen off a cliff.
Auto workers communities ponder life without GM
The Associated Press
How will this affect our revenue stream which is already down $100 million this past month? It’s got to hurt” said state Sen. Bill Ketron a Republican whose district includes Spring Hill. James Kendall is president of a United Auto Workers local that represents a metal-stamping plant in Indianapolis. The factory had been set to close in December 2011 but Kendall said GM told union officials Monday that the plant could close sooner. Kendall said the local’s members have agreed to significant contract concessions in a bid to keep the plant which employs about 800 people. “The people here deserve this facility to stay open but unfortunately it’s not up to us. “___Associated Press writers Corey Williams in Detroit Ben Leubsdorf in Pontiac Mich.