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Automotive News & Views GM News, New Models and Market Share
8074 messages, Last post on Nov 11, 2009 at 10:27 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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One GM executive even told Businessweek the car’s styling will make “people want it regardless of the energy source.” Ahhhhh, there's that cocky, arrogant attitude that we've come to know and love... 
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In a bid to increase loan money for car sales: General Motors today launched a nationwide test program that gives 90 million credit union members access to the company's Credit Union Member Discount Program with participating GM dealers. The "Invest in America" program also gives members access to financing on new-vehicle purchases. This follows a four-state Midwest program GM began early last month. The expanded program now encompasses nearly 8,000 credit unions nationwide. It makes a credit union member discount available for eligible new-vehicle purchases as well as more than $80 billion in credit union low-cost auto loans. Mark LaNeve, GM vice president of North America sales, service and marketing, said in a statement: "We've had very positive responses from our dealers to the four-state Midwest credit union pilot that is currently running. Jim Bunnell, executive director of GM's channel support group, said the program includes almost all 2008 and 2009 models, except for the Corvette and medium-duty trucks. According to a Datatrac survey of more than 17,000 financial institutions, the average credit union loan rate is 5.4 percent, compared with 6.9 percent for the average bank rate the past two months, the Michigan Credit Union League said in a press statement. The Web site for the program, lovemycreditunion.org, yielded about 1.3 million hits, Bunnell said. "And based on the prospects who came into the credit union and asked for an authorization code to get the discount, 30 percent of those ended up buying a GM vehicle," he said. "So that's a high conversion number and a good success rate." |
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If you want to see specific areas hit the link. General Motors Corp. announced today that it set a new company record for vehicle sales in Asia Pacific in 2008. Its sales in the region rose 2.7 percent from the previous year to 1,475,093 units. A further 766,400 vehicles and 599,080 complete knockdown (CKD) vehicle sets were exported from the region to other parts of the world. http://media.gm.com/servlet/GatewayServlet?target=http://image.emerald.gm.com/gm- news/viewpressreldetail.do?domain=2&docid=51194 |
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* GME president Carl- Peter Forster: “a success in difficult times” * GM sales in Europe reach 2.04 million vehicles in 2008, with a market share of 9.3 percent * Chevrolet breaks through 500,000 sales volume * Opel sets sales record in Central and Eastern Europe, with volume up 13 percent * All-new Opel/Vauxhall Insignia wins European Car of the Year 2009 and has excellent start with nearly 44,000 orders Insignia is on the Epsilon II architecture which is also in the new LaCrosse. Insignia was to be the next Aura but now? Perhaps the G6? Keep the G8 and Sky and quite a line up. Or bring the Insignia over as the new Malibu? Might be a bit too sporty for a Chevy. |
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Great vehicles coming out, award winning vehicles, sales up overseas! So I guess the crisis is over, GM won't ask for any more loans, and they'll start paying the loans back in 2010!  It just seems like a few short weeks ago that GM was saying they'd have to close the doors, as no one in the private sector was willing to loan GM $. Doh - it was just a few short weeks ago! So which story GM is pushing is right? It seems GM is presenting 2-face stories. |
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"Little Miss can't be wrong" - Spin Doctors. It's being played on many forums, including Edmunds.
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Replying to: kernick (Jan 09, 2009 12:39 pm) In December GM said they did not have enough liquidity to pay their bills here in the US. If they did not pay their bills they would have to go bankrupt. Now that they have the loan they are paying their bills. They do seem to have a lot of award winning vehicles coming out. Sales are up overseas. They have said they do not plan on asking for anymore money. Where did you read the loans would be paid back in 2010? Per the restructuring plan: Assuming the lower, depressed industry volumes under the Downside scenario, GM would make full use of the $18 billion temporary Federal loan facilities through most of 2012. While not shown, Downside industry volumes in 2013 are projected at 13.5 million units. Under this Downside Scenario, the company would expect to begin partial repayment of the temporary Federal loan facilities in 2012. They have said all along that the issue is in the US only. Overseas they have increasing sales and the end of the year sales confirms that sales are increasing overseas.
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So far, same news as the last few decades: According to data from Edmunds.com, the Detroit Three lost a collective total of 3.7 points of market share in 2008. Chrysler led the group, ceding 1.9 points of share (from 12.9 percent of the market in 2007 to 11 percent in 2008). GM lost 1.4 percent (from 23.8 percent in 2007 to 22.4 percent). Ford gave back 0.4 points of share (from 15.5 percent to 15.1 percent for 2008). Meanwhile, the three automakers who comprise the rest of the U.S. "Big Six" - Toyota Motor Corp, Nissan Motor Co. Ltd. and Honda Motor Co. Ltd. - all gained market share in 2008, despite their own heavy declines in actual sales volume. Toyota picked up a half-point of share (16.3 percent of the market in 2007 to 16.8 percent in 2008), Nissan gained 0.6 percent (from 6.6 percent to 7.2 percent of the market) and Honda grabbed an extra 1.2 percent of market share (from 9.7 percent in 2007 to 10.9 percent for 2008). The totals, then, maintained Detroit's decades-long giveaway of market share: in 2008, Detroit slid from owning 52.2 percent of U.S. auto sales to 48.5 percent. The three largest Japanese automakers gained 2.3 percent of market share in 2008 (from 2007's 32.6 percent to 34.9 percent for 2008), leaving 1.4 percent to be distributed among the smaller automakers. Long road ahead, indeed. Regards, OW
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Replying to: anythngbutgm (Jan 09, 2009 11:24 am) |
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Replying to: lemko (Jan 09, 2009 10:21 am) Impala - What the heck is wrong with the Impala? Issue is not whether there is something wrong with it. Issue is whether it is in the bottom third of currently offered models in that class. Aveo is at the bottom compared with Fit, Yaris, Versa, Mini Cooper -- just to name four tiny cars. It might be better than the Smart. Impala - not as good as Camry, Accord, Sonata, Optima, etc. My 66 VW Beetle was reliable and got me from A to B. So was it crappy if nothing was wrong with it? In today's market it would be crappy. |
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