General Motors' Sales Dip In August

General Motors Co. announced that August sales were down 7% compared to July, citing the shaky economy as keeping away customers. GM also said that its sales had fallen 25% compared to August 2009, though this was unsurprising due to the Cash for Clunkers rebate program that had been running at the time. GM brands GMC, Buick, and Cadillac reported increases from last year, but Chevrolet, the largest brand, had fallen due to Chevrolet-branded cars being popular under the clunker program. GM, who filed for an IPO in August, is looking to foreign markets for the future, particularly China, where its vehicle sales surpassed the U.S. market for the first time during the first half of this year.