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Automotive News & Views GM News, New Models and Market Share
8509 messages, Last post on Nov 29, 2009 at 12:30 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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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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Replying to: steve_ (Jan 08, 2009 11:06 am) |
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Replying to: circlew (Jan 08, 2009 10:51 am) But of course since they've already planned for a "worse case" scenario the chances of it being worse than that should be infinitesimal by definition, right? (unless thier economists who project these things are not the best!) 
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Replying to: 62vetteefp (Jan 08, 2009 10:56 am) Could it be that the average vehicle price dropped? The increase was listed in units, while the sales drop was implied to be $$ value. If the vehicles were less expensive then the units could go up while the sales amounts could still go down. |
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Replying to: gagrice (Jan 08, 2009 7:29 am)
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