(DETROIT, MI) - General Motors has been demoted...to second in command.
According to our partners at Fox News, GM has fallen to second in global sales to Japanese powerhouse Toyota for the first time ever.
Despite 3% gains in sales in the Asia Pacific region and Latin America, "The General" just couldn't overcome a 7% sales drop in Europe and a further 21% nosedive in its core market of North America.
GM is also reporting that, if the company doesn't receive the second loan installment of $5.4 billion signed on to by now-former President Bush, that the company could be out of cash by the end of March.
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