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GM Announces Big Drop In Car Sales

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General Motors, the world’s largest auto manufacturer, made an announcement today:  worldwide passenger car sales fell by more than 1 million units (that’s 6%) in the third quarter of 2008.  No surprise, consumers are delaying new car purchases given the credit crisis (and a loss of confidence in the economy).  Poor GM, they’re drastically having to cut costs – the most painful part is a huge cut in their workforce. 

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