The arrogance of GM management in keeping that POS is unbelievable. They had a chance to get rid of it in 2009, chose to retain it and lost another 6 BILLION!
I think enough heat has been brought to bear and they just posted the first two quarters of this millennium without losses. In aggregate, this must have cost them close to 10 billion in the past 15 years! Not to mention the 6 Billion that Fiat cost them. Not good.
I think they get it. I think the losses are over. I congratulate Mary and the rest for fixing this major issue.
Considering the overall market today, not too bad at all. Still out of GM as general market appears weak, at least momentarily. Still love the stock and sure I will be back in at some point.
There are people getting worked up about auto loans. Why? There have been 40 million or so cars sold the last 5 years. At an average loan amount of $25,000, you ,have your trillion dollars (hope I still did math correctly!! too large for the calcs....). Big deal. Gm being very conservative with this these. If I recall correctly, on many models, the Asian brands have led incentives in each of the last few years...and by a fairly wide margin.
In any event, rightly or wrongly, the last crisis showed that people are more inclined to pay for their car than house.
BTW, going to put this acronym away for the time being. I'll post to a different name when I do. Best to all (even you bashers) this Christmas and Holiday Season!
That doesn't appear to make sense to me. Gm products, especially the trucks you mention are in extremely high demand. My guess is that GM is able to demand decent down payments and limit their risk.
Near me, I do know that the only companies offering crazy stuff right now are Kia, Hyundai, Toyota. To a lesser extent Nissan and Volkswagen.
Saw Kias for $99/month, no money down. Camry was like $158 or something. Prepared to be wrong here and would love to hear from finance guys about the situation. I do not claim to have great detail about this.
You are 100% correct Scale. About the product line, engineering, shorts, safety etc...... The big guys are following your lead(smile). Good for you. Cut all holdings at 38.50 on average. Happy with that to be sure. All of it was from under $20.00 . Rebought it below 31.00 and cut just above there before the drop to 25. Never bought back in.........very irritated with myself! Won't be letting it get above 38.50 where I sold.
Jeye pointed out yet another significant award, Green Car of the Year. Pretty cool. Not a surprise.
"Hey Jeye, here's another guy that thinks the problem with American manufacturing is just stupid consumers."
I am a bit surprised that is the conclusion you drew from my post. I apologize for being so obtuse. Let me attempt to be clear so that even you can understand.
In 1997, the US Senate voted unanimously ( 95-0, imagine that) against the Kyoto antipollution Protocol. Why? Was it because they were against clean air? Did our Senate actually like to breathe diesel bus exhaust? No. Our Senate thought that passage of Kyoto could devastate our economy. Large developing nations like China and India refused to ratify Kyoto. By refusing to ratify Kyoto, China and India hoped to gain another advantage in the business of manufacturing. Protecting against pollution is extremely expensive (you already know this don't you wngr).
Almost 20 years later, the world cannot adopt Kyoto. In fact, in 2012, Canada opted out of the accord entirely. One of many example's of why "it is not rational to devastate a manufacturing base and the knowledge, security and taxes that derive from that manufacturing base." (of course the fact that the world, led by china and india, will not pass Kyoto is devastating at another, completely different level)
I like competition for America. I'd like us to be able to compete at an even level. Nothing more.
Some people will act with pure self-interest. Then again, there are many people who dedicate their lives to others. Rational self-interest should incorporate long term thinking. Rational is the key world there. For example, it is not rational to devastate a manufacturing base and the knowledge, security and taxes that derive from that manufacturing base. It is also interesting to note how willing, even resigned, Americans are, to losing their manufacturing, with so little fight. And knowledge quite frankly. To equate the loss to an ingrained belief that we are not competitive or efficient. To believe that economic forces, beyond our control, take advantage of our lack of efficiency. Not the case.
A few of the forces American workers are forced to bear:
Dumping: Steel and Solar for starters, but also tires and cars......
The annual US fiscal imbalance is smaller than the US trade deficit.
TPP does not address these issues.
US industrial production fell for the 9th time in 10 months. I think that qualifies as a trend.
Oil a part of it, but only small. Drillers only now coming offline. Corporate leaders have raced each other to offshore manufacturing and are now unable to advantage themselves of low cost commodities and great distribution systems that exist here. It is a good thing that GM is able to build here. They're lucky.
Subsidies that foreign corps utilize in order to export to us need to be addressed as well. Bad Trend.
Agreed. Great news. The Camaro, already a car that's embarrassed Porsche and Nissan on multiple occasions, has taken yet another huge step forward.
The Colorado diesel will sell well. Amazing truck.
Unfortunately, our oil drillers and farmers are getting crushed. That will cap sales of all trucks fairly soon.