The resource has been added to your collection
On Tuesday, December 12, General Motors announced that it would be phasing out its Oldsmobile line of automobiles over the next several years. The first Oldsmobile was produced in 1897, making it the oldest surviving line of cars. However, historical value was not enough to justify producing cars that now have 1.6 percent of the American car market, ranking just below Hyundai; in 1985, Oldsmobile had seven percent of the market. Oldsmobile began struggling in the late 1980s as American families started to buy imports instead of American-made cars. GM tried to update Oldsmobile's image and appeal in the mid-1990s, and they did manage to lower the average age of Oldsmobile buyers from 60 to 49 in the last four years. Twenty-five percent of American car buyers are under the age of 35, and Oldsmobile was never able to recapture that demographic. GM also announced that it would be cutting its salaried American workforce by ten percent and closed its Vauxhall car plant in Luton, England.
This resource has not yet been reviewed.
Not Rated Yet.