Fuel prices and a slump in Hummer sells have left GM’s stock below $10. According to MSN Money, the automaker has not seen such numbers since September 1954. Certainly, GM has suffered because of its prejudices towards change or failure to offer a fleet of fuel-efficient automobiles. Furthermore, problems such as a collapsing American economy, falling US dollar, interruption in oil supplies, poor refining capacity, rising demands for energy and subsequent rising fuel prices in addition to climate change have been ignored by GM management. Fuel prices have been rising for some 5 years or more without GM being more aggressive in providing what their customers need and want. GM has literally been asleep behind the wheel. Pun intended.

Contrarily, automakers like Toyota introduced the Prius hybrid to the Japanese market in 1997 and some time after to American and European markets. While GM’s stock fell below $10, Toyota’s stock is worth over $90. However, GM is getting into the fuel-efficient car market by offering the Chevy Volt. There is still plenty of opportunity for GM to make money because the demand for fuel efficient or alternative energy cars is enormous and the move is commonsensical. However, GM and other automakers face a few big problems: A failing economy and whether Americans can afford the high prices associated with purchasing some energy efficient alternative automobiles. From TransWorldNews (press release):

When fully charged, the Volt could drive about 40 miles without using any gasoline, and a small conventional engine would recharge the vehicle, allowing it to get the equivalent of 150 miles per gallon. GM plans to sell about 100,000 Volts a year by 2012.