During the Eisenhower administration, Charles Wilson stated, "For years I thought that what was good for our country was good for General Motors, and vice versa," highlighting the close tie between industry and national interests.
Despite historical supremacy, GM now faces significant challenges, including legal issues, increased financing costs, and operational hurdles related to the electric vehicle transition.
The automotive landscape has shifted, with rising interest rates pushing car loan averages up to 7.82%, affecting both buyers and the overall market.
General Motors is navigating through legal troubles concerning its Duramax diesel engines, and has had to make substantial workforce reductions amidst a focus on electric vehicle development.
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