Shares in automaker GM have fallen to a 54-year low as investors become increasingly concerned by falling sales and high levels of debt.

GM shares have dropped as low as $11.12 on Monday, which is the lowest they have reached since 1954, the BBC reports.

The value of the shares have dropped by 35 per cent in the last month and total sales dropped by 30 per cent in May.

May's disappointing sales results were preceded by a 22 per cent drop in April but strong sales outside the US ensured global sales only fell by one per cent.

Part of the problem is due to the changing attitudes of consumers.

Fuel-efficient vehicles are becoming increasingly popular and with rising fuel prices hitting consumers' wallets, GM has already admitted it is being hit by a change in focus.

The firm has pledged to produce smaller, more fuel-efficient cars and is subsequently reviewing the future of its Hummer sports utility vehicle.



Source:

GM shares skid to 54-year nadir, 1/07/08
http://news.bbc.co.uk/1/hi/business/7483010.stm