- March 23, 2009
- GM
An All-New SUV for 2007 from GMC
An all-new full-size SUV, General Motors Company has introduced the new 2007 Yukon to the public with its distinctive styling, spacious and totally refined interiors, and enhanced safety features.
General Motors Corporation (GM) (NYSE: GM), founded in 1908, is the world's second-largest automaker after Toyota, ranked by 2008 global unit sales.[2] GM was the global sales leader for 77 consecutive calendar years from 1931 to 2008. It manufactures cars and trucks in 34 countries. With global headquarters in Detroit, Michigan, GM employs 252,000 people around the world, and sells and services vehicles in some 140 countries. In 2008, 8.35 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling.[3]
In late 2008 GM, along with Chrysler, became and continues to be dependent on government loans to avoid bankruptcy.
On March 5, 2009, GM's independent public accounting firm (Deloitte & Touche) issued a qualified opinion as part of GM's 2008 annual report that stated "these conditions raise substantial doubt about its ability to continue as a going concern". A qualified going concern audit letter like this is only issued by the auditors when the company is in extreme financial distress and it is likely that they may file for bankruptcy protection.
On March 12, 2009, GM's CFO Ray Young said that it would not need the requested $2B in March noting that the cost-cutting measures are starting to take hold.