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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: explorerx4 (Jan 14, 2009 6:58 pm) So you probably don't have anything to worry about for at least another ten days or so.  
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Replying to: driver100 (Jan 13, 2009 4:15 am) mine are < 1 year, 5 years, 6.5 years and 18.5 years. i realize not everyone has the same priorities regarding the vehicles they buy. mine are different that yours. doesn't make either one better or worse. i am in favor of the government assistance for the automakers since it will at least create a softer landing for the general economy as it relates to auto industry contraction due to lower sales. |
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Replying to: steve_ (Jan 14, 2009 7:02 pm) 
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Replying to: steve_ (Jan 14, 2009 7:02 pm) PS Have we given GM any cash or are we waiting for the Chinese to print more money for US?
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Replying to: gagrice (Jan 14, 2009 9:35 pm) In GM news, I got nothing, except more pictures of the Caddy presidential limo:  link
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Replying to: steve_ (Jan 14, 2009 10:16 pm)
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Replying to: gagrice (Jan 14, 2009 10:30 pm) Lawmakers push "clunker" plan to spur auto sales (Reuters) It's sort of a back door loan to Detroit and I'd think hard about doing it with my minivan. Get a Vibe if I had to go D3. |
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Replying to: gagrice (Jan 14, 2009 5:13 pm) Total U.S. sales plunged from 16.1 million units in 2007 to 13.2 million for 2008. Equally interesting -- and troubling, for Detroit -- was that not only did the pie get painfully smaller, the domestic automakers' portion, market share, once again lost ground. 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). I know what your thinking PUNK! How many bullets are left? Did I shoot five or six? Well, do ya feel lucky PUNK? Regards, OW |
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If you check any of the business sections today, and you have some understanding of how money is created and lost, you will see that the bailouts to date are not working. The banks have basically lost the bailout money, as their assets have continued to decrease in value. The best analogy is this brush-fire tunred into a regular fire and was being fought. However the efforts to put out the fire have not worked, and the fire is continuing to grow - into a firestorm. As people default on loans, and businesses go down, stocks drop, people spend less, more businesses fail, more loans are defaulted on, stocks drop more ... This is feeding on itself, and globally. So until this economy somehow "turns", 10M in vehicle sales looks optimistic. If I ran an auto company, I'd set my normal production plans for a market of 8M, and work some OT if sales really are 10M.
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Replying to: kernick (Jan 15, 2009 6:16 am) Big 3 failure with loss of jobs there and cascading effect on suppliers, dealers and others would be devasting for already low consumer confidence. Bail out BIg 3, but demand extensive restructuring, especially GM and Chrysler. A tough and knowledgable business/car guy such as Penske perhaps would be a good czar to oversee overall bailout and restructuring. Will Obama do this?
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