subject: Capitalsys: Cash For Clunkers Is Working For General Motors. [print this page] Last week CapitalSys reported on the success of Cash for Clunkers program in the U.S, which Ford Motor Co has seen production increase.
This time around the good news is for the well-documented troubles of General Motors who until now have had poor results from the program.
On Tuesday GM announced that it is increasing production in the second half of this year as the program is helping them turn things around.
GM who is the number one car maker in the U.S made a surprise announcement that an extra sixty thousand cars will be produced this year to keep up with demand. This has come as welcome news to the factory workers in GM.
GM who have applied for bankruptcy and they are expected to be re-branded next year will be happy with the success of the Cash for Clunkers program.
Sources told CapitalSys that the Cash for Clunkers program is really helping the companys fortunes. The extra car production will help employ thousands of employees who were previously released due to lack of sales.
Confidence was high at GM today where one spokesperson told CapitalSys that the ramp up in production may not be enough and it may increase again this year.
The rise in input will be greeted with joy not just from the car industry but the whole of the U.S economy, as its a clear indication that the U.S may be out of the worst recession since the war.
