GM takes a hard look at motorsports spending
General Motors takes a hard look at its motorsports spending during launch and it reduces costs on the market event, part of a series of reductions in money-economy automobile manufacturer announced Tuesday.
The details of expenditure motorsports aren’t immediately known. But the boss of Troy Clarke GM North America said that traditional methods of sale aren’t as effective they were.
Once asked directly to support NASCAR and other motorsports, Clarke would not provide specific details.
There will be changes and changes in our, promotional imprinting step Clarke said.
GM cut its marketing and sales budgets and widens channels most of its expenditure to product launches.
The automobile manufacturer has taken several other measures on Tuesday with an aim to boost its financial liquidity by $ 15 billion in 2009:
– The previously announced closures truck factory will be accelerated, and other plants will be placed at the end.
– GM will cease to provide allowances for health care for retired intellectuals when they reach 65 years. Retirees will receive an increase in payments to compensate.
– The automobile manufacturer has suspended its dividend payment in shares.
– Workers at GM employees won’t have to increase this year or next, and executives earned ‘ t get bonuses.