In a sign of the difficulties facing U.S. automakers in the current market, General Motors is reportedly looking to sell its headquarters building. Autoblog reports: "Last May the world's biggest automaker finally bought its world headquarters in downtown Detroit called the Renaissance Center for the sum of $626 million. It had initially bought into the complex of seven buildings back in 1996 for $75 million, but had continued leasing office space there until the purchase earlier this year. Here we are not five months later after the purchase and GM is reportedly considering selling the RenCen to raise $500 million fast."

The Detroit News explains that the company "wants to borrow about $500 million from one or both of Detroit's pension funds to refinance the Renaissance Center, the automaker's iconic world headquarters, in a move that could pump cash into the financially strapped company's coffers." If no deal is reached, GM will "consider selling the landmark and leasing space within" to keep its operations in the building, as someone else's tenant. 

The federal government has authorized $25 billion in loans to help troubled automakers through this difficult market, but much of that money will not be available for up to 18 months. Meanwhile, "Vehicle sales have fallen 18.1 percent this year, and GM posted a $15.5 billion second-quarter loss in August."

If the company does sell the building, Jalopnik asks, "Who would the new owners be? Who knows, but with the dollar where it is, we'll bet our Volt futures that they won't be American."

Tough times for automakers, though, have led to some great buying opportunities for consumers. Research the best car deals for October with U.S. News' car rankings and reviews.