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Automotive News & Views GM News, New Models and Market Share
8236 messages, Last post on Nov 21, 2009 at 6:00 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: bpizzuti (Jan 08, 2009 8:43 am) Yes. First, GM and Ford are public companies, not owned by the execs; they are owned by the millions of shareholders. Probably you and I are owners thru our mutual funds. I invest in companies to make money; I really want GM (and every other corporation I have stock in) to spend the least amount possible on landscaping, office furniture, and the arts (examples) as possible. Too many corporations waste money, and then when times turn tough they don't have any savings. If GM can get by now without corporate jets, then they could have done so for years, and the $ spent over the years could have been saved. The things GM is now considering to stay viable, should have been implemented years before this downturn.
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Replying to: 62vetteefp (Jan 08, 2009 4:05 am) Regards, OW |
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Replying to: plekto (Jan 08, 2009 8:16 am) Sure, some money flows up to corporate, wherever that is, but that money usually doesn't contribute much to the economy. In fact, in the case of GM, since there are technically no profits, they pay no taxes on that money. Do not tell that to all the employees at the tech center, proving grounds, ren cen and elsewhere that they are not paying taxes. Seems like a lot of income and SS tax being paid. And if they were making money they would be paying taxes. They design the cars in the U.S., but if they build them in a foreign country for a decade, that's 5-10 billion in lost money per plant. If GM and Ford have ten such plants between them, let's say, well, that's essentially a bailout every couple of years in lost jobs and money. GM has ~20 plants in NA and 4 of them are in Mexico and Canada. And they do sell vehicles in both those countries so it is perhaps 1 plant of production from Mexico and Canada that actually make it here to the US (assuming cars from the US are also going to Canada and Mexico). There is also a plant shipping Aveos from overseas and the Astra and a few G8's made in Austrailia. So most all the money does stay here in the US. Lets talk 2010. The vehicles made in Canada are the Impala, Camaro, Equinox, SRX (LaCrosse moving here, Canada truck plant closing down). In Mexico the full size SUV's (1 plant in Mexico, 2 in the US), HHR, Vue. |
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Replying to: kernick (Jan 08, 2009 9:33 am) Forget probably. I own 250 shares of Ford directly, and would love to see them start paying dividends. |
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Replying to: tlong (Jan 08, 2009 9:25 am) In December, GM requested $18 billion in federal loans, saying that was what it needed to make it to 2010. That number factored in GM's 49 percent stake in its struggling financial unit, GMAC Financial. Bottom line is they got all the money they asked for, for the year approved and is now being paid out. GMAC was part of that $18 billion.
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Replying to: 62vetteefp (Jan 08, 2009 4:05 am) 2010 Buick LaCrosse 2009 Detroit Auto Show: 2010 Buick LaCrosse (with video) And the LaCrosse is up on Straightline today. Shifting gears, most of the news stories talk about how GM is doing well in China. But Inside Line has a counterpoint: "General Motors has posted its first year-on-year sales decline for its passenger vehicles in China, and analysts are saying the company's new models — especially those badged as Buicks — have failed to appeal to Chinese consumers." China: Consumers Snubbed Buick Brand in 2008 |
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Replying to: 62vetteefp (Jan 08, 2009 9:38 am)
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Replying to: 62vetteefp (Jan 08, 2009 10:48 am) Bingo! Regards, OW
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Replying to: steve_ (Jan 08, 2009 10:25 am) "General Motors has posted its first year-on-year sales decline for its passenger vehicles in China, and analysts are saying the company's new models — especially those badged as Buicks — have failed to appeal to Chinese consumers." Interesting copy which seems to disagree with most headlines. I think it may be because the Edmunds report only looked at the Shanghai venture and not the other 7? General Motors said Tuesday its sales in China rose 6% to 1.09 million vehicles in 2008, but growth slowed as consumers held back amid an economic downturn. GM is looking to China's booming auto market to drive global sales growth as demand in North America and other developed markets slump. In 2007, the Detroit-based automaker's China sales, including joint ventures, rose 19%. GM has been aggressive in China, setting up eight joint ventures, a vehicle development center in Shanghai and an alternative fuel research lab. Robert Socia, vice president of Shanghai GM, its passenger car joint venture, said in November the Chinese market is "very, very important to us." As far as Buick dropping it may be because as the article said this downturn in the economy is also effecting China and they are purchasing lower cost, more fuel efficient vehicles like the Chevys which are up 15%?
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Replying to: 62vetteefp (Jan 08, 2009 10:56 am) It made me do a double-take too. But the byline looks like the story was written by someone on the ground in Shanghai. Ah the WSJ has picked up on the story. Shortened story at the link but if you search for Shanghai GM on Google News, you should find the whole story.
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