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GM Regains Crown As World's Top-Selling Automaker!

by TLTheLiberator
16 replies
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story here...

GM regains crown as world's top-selling automaker | Reuters
  • Profile picture of the author theprimehost
    I read that the other day. I large part was due to Toyota's recalls (they slipped to #3 or 4 I believe this year)
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  • Profile picture of the author TLTheLiberator
    Record profits announced...

    http://www.nytimes.com/2012/02/17/bu...ofit.html?_r=2
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    "It's easier to fool people than to convince them that they have been fooled. -- Mark Twain

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  • Profile picture of the author seasoned
    At least they were SOMEWHAT honest:

    For all of 2011, G.M. earned $7.6 billion, nearly all of it from North America. That was 62 percent higher than the $4.7 billion it earned a year ago and nominally more than G.M.’s previous record of $6.7 billion in 1997 (in today’s dollars, the 1997 profit would be about $9.4 billion).
    They STARTED to tell a lie here..., and I guess they realized that someone like me might see it, and so they then basically say "OH YEAH, ********DOLLARS DON'T MATTER*******"!

    Anyway, it may be a decade before we know the TRUTH. With the bailout, probably better performance by current workers(that ***WILL*** drop), convenient problems by others, subsidies, and other possible things, too many things are hidden. With the salaries, bonuses, inflation, and subsidies, they are NOWHERE NEAR a record! That above parenthetical bit of "apparent" honesty takes ONLY inflation into consideration.

    After all, NOBODY really cares how much GM gets, except maybe GM. They care about how much THEY make! SO, on a chevy volt, if a BILLION people buy it for X and they make a profit of say $10K on each car, it sounds GREAT, HUH? Maybe they have great salespeople! Maybe it saves the company! ****BUT**** if the us government offers say $11K towards the purchase of the car, it actually HURTS the economy, etc... On a fair ground, it represents a LOSS of $1,000,000,000,000! The company is really NOT saved, since it is not sustainable, and the economy will falter. The salespeople did nothing because the buyers may have gotten a short term GAIN from it.

    The sales of golf carts actually went up because THEY are subsidized! The american tax payer paid 100% for them. The buyers may even have gotten a kickback, so we may have paid MORE than 100%!

    Steve
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  • Profile picture of the author seasoned
    Well, the local one likely took ome of the foreig work, to look better, and the foreign one couldn't get all the subsidies, etc... so it is understandable.

    BTW a couple days ago, I saw a place on ramseys kitchen nightmares. It was CLOSE to me! OK, about 3 hours away, but still... I figured I would check it out. I looked on the internet first. Well, I saw the lower part of the page first, for whatever reason. And WHAT did it say?

    "We DON'T have any more bottles of the great BBQ sauce Ramsey had developed for us, SORRY. The recipe is locked up in a safe place, and we are looking for investors. ODD!"

    OK, I scrolled up to see more of the story. It said that prices went up a lot, and they either had to cut back, returning to how they WERE, or go out of business. They HOPE to be back some day. They just couldn't do the right thing and stay in business in this economy. 8-(

    Old main site: j willy's | formerly j willy's Barbeque House
    Farewell letter: http://jwillys.com/thank%20you.pdf

    It's a shame. After reading that farewell leter, I wish I had checked it out earlier. 8-(

    Steve
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  • Profile picture of the author waterotter
    GM may be announcing record profits now, but do they have the foundation to sustain said profits through the next recession? I think that will ultimately determine their overall success. JMO!
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    • Profile picture of the author TLTheLiberator
      Originally Posted by waterotter View Post

      GM may be announcing record profits now, but do they have the foundation to sustain said profits through the next recession? I think that will ultimately determine their overall success. JMO!
      Good points.

      A normal recession is one thing and never much of a problem, but a great recession...

      ...is a horse of a different color.

      The main reason GM had problems is because the bottom fell out of the economy and no one was buying cars at all.

      GM was also a bit fat and top heavy, but I hear they have streamlined ( some people say they were forced to ) the operation as much as possible.

      Now that the economy is slowly recovering, folks are buying cars again.


      All The Best!!


      TL
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      "It's easier to fool people than to convince them that they have been fooled. -- Mark Twain

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  • Profile picture of the author gotmerunnin
    So how much taxpayer money was lost on bailing them out? Couldn't this whole turnaround have happened without spending our tax money? A real bankruptcy isn't the end of a company. It's a reorganization of their business including debts.
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    • Profile picture of the author TLTheLiberator
      Originally Posted by gotmerunnin View Post

      So how much taxpayer money was lost on bailing them out? Couldn't this whole turnaround have happened without spending our tax money? A real bankruptcy isn't the end of a company. It's a reorganization of their business including debts.
      Technically it was a loan of about 80 billion by the taxpayers.

      80 billion to save at least 1 million jobs and maybe 2 million if you count all the other jobs that derive from the U.S. auto industry.

      We own something like 25% of GM stock and I hear we're waiting until the stock price gets a lot better before we sell.

      Lots of people believe if they went into bankruptcy it would be over and the industry would never recover - never.

      As long as the taxpayers get our money back in a reasonable amount of time I consider the 80 bill - in order to save 1 or 2 million jobs and the American auto industry a very wise investment of national economics.


      All The Best!!

      TL


      Ps. Here's info on the 1979 "bailout" of Chrysler...

      http://detroit.about.com/od/bigthree...ylser_bail.htm
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      "It's easier to fool people than to convince them that they have been fooled. -- Mark Twain

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      • Profile picture of the author seasoned
        Originally Posted by TLTheLiberator View Post

        Technically it was a loan of about 80 billion by the taxpayers.

        80 billion to save at least 1 million jobs and maybe 2 million if you count all the other jobs that derive from the U.S. auto industry.

        We own something like 25% of GM stock and I hear we're waiting until the stock price gets a lot better before we sell.

        Lots of people believe if they went into bankruptcy it would be over and the industry would never recover - never.

        As long as the taxpayers get our money back in a reasonable amount of time I consider the 80 bill - in order to save 1 or 2 million jobs and the American auto industry a very wise investment of national economics.


        All The Best!!

        TL


        Ps. Here's info on the 1979 "bailout" of Chrysler...

        1979 Chrysler Bailout - What was the 1979 Chrysler Bailout?
        The stock was STOLEN, along with bonds, etc.... Who is to say that it won't be stolen AGAIN? Frankly, I am surprised the stockmarket did so well after that fiasco!

        Steve
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  • Profile picture of the author KimW
    Think of how many homeless that 80 bil could have saved? Think of how many other corporations that got bailed out went on to make record breaking profits while more and more hard working Americans that had paid into the system over the years lost everything?
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  • Profile picture of the author TLTheLiberator
    Story here...


    U.S. Auto Sales Gain 13% in March, Led by Chrysler - Bloomberg
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    "It's easier to fool people than to convince them that they have been fooled. -- Mark Twain

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  • Profile picture of the author MoneyMagnetMagnate
    GM's China sales top U.S. total, a first for the automaker
    General Motors' sales in China increased nearly 29% in 2010 while U.S. sales rose just 6%. GM is one of the best-positioned automakers in emerging markets, even better than Toyota, says one expert.
    Gm China | GM's China sales top U.S. total, a first for the automaker - Los Angeles Times
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  • Profile picture of the author KimW
    Where are my stock dividends?
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