GM to auction cars from its private Heritage Collection
Naveen , Shimla: Dec 19 2008
Made Popular Dec 19 2008
In order to raise funds, General Motors will be auctioning off a significant portion of its classic car collection next month. The Detroit automaker has plans to auction as many as 250 cars at the upcoming Barrett-Jackson auction in Scottsdale,...
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There have got to be some really cool cars in this collection, but I don’t see how they would be able to make enough money from auctioning off 250 of them to cover their $1 billion in monthly expenditures.
Seems like a real gimmick!
I don’t think this is a gimmick. With the auto industry in a slump, its really no surprise that companies are taking all means possible to keep themselves from going bankrupt.
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