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I don't understand how a set of companies with a business model that hasn't been updated in 40 years still refuses to rethink the way they do things. There are plenty of car manufacturers that are making a profit at the same time that Ford was operating at a net loss of 5.8 billion dollars.
If I were on the board of a company in that situation I would be hoisting the CEO up by their petard and pushing for restructuring of both the company direction, budget, and 5-year business plan.
Instead, GM continues to be the last company to adapt to changing consumer demand, and this means that most of the time they are 3 to 5 years behind the rest of the market when it comes to introducing products into any given market segment.
They are stifled by both executive ineptitude and unions with a death grip on the nuts of those in positions to make the decisions needed to change the company.
GM is a sinking ship that's on ablaze. And the executives seem to think that letting it sink is a sensible solution for putting out the fire. The problem isn't the sinking or the fire, it's the inability to adapt.
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