General Motors closes its door soon !

[lovejoy]

GM will close Saturn, Hummer, Saab and Pontiac !

They are going to file bankrupty but those 4 Divisions will be closed and Opel will be sold either to the Italian or the Canadian buyers !

 

[E-Ann-Hilden]

This has been going on since 1994. GM/Ford/Chrysler have been either 2 steps behind or they turned left when the industry leaders (The Japanese and Germans) went right.

I've always felt that, for the most part, American quality has been better-than-reputation goes but American design is actually worse than the reputation goes. There is not a single decent car in the American portfolio that isn't being clowned by 3 or 4 competitor products. Only the Corvette and the Mustang can "hold their own" in the marketplace. Every other American car is a distant 4th or 5th option in the marketplace.

In "Big Picture" terms...GM/Ford/Chrysler will all declare bankruptcy before they sell out to the Euros or the Japanese. The Big 3 will go to Congress with tears in their eyes and empty pockets flapping in the wind and ask for a bailout. The precedent for American bailouts has been set with Bear Stearns, it's being drawn up now for Bank of America/Countrywide and the rest of the Mortgage Lenders, the Airlines are apparently calling in their lobbyists to float the idea of a bailout in 2009....it only makes sense that the Big 3 Auto companies will now decide "it's safe" to go on their knees to Congress.

What's Congress going to do? Turn their backs on American business and Capitalism? Not likely to happen.

Congress will agree to a bailout on a few conditions..namely, the cease/desist of all SUV production in 2009, the closure of Buick/Pontiac/Mercury/Lincoln...and an industry agreement on the development of some new alternative fuel system. The American Auto industry is going to have to work a little more like a gov't funded Oligopoly...

See Chevrolet Malibu, Chevy Corvette, Buick Enclave, Cadillac CTS, Ford Fusion, Pontiac G8, Cadillac SRX etc... They are as well designed as anything on the road these days, IMHO

Toyota is pretty vanilla these days except for a few Lexus models these days. Honda makes decent looking cars, but not supermodels. Nissan has some of the better designs japanese wise.

I will give you a full point compared to some German models, but that is the next price level in allot of cases except for VW.

I owned Honda/Acura's until last fall and found the Cadillac CTS as good as anything; value, style, quailty and performance wise.

 

[lovejoy]

I am starting to question President Obama's auto policies.

Despite President Obama denied his involvement in closing 790 Chrysler dealerships and thousands of GM dealerships, it will push hundreds of thousands of people out of work.

Also small dealerships will close and big ones will merge together and prices will go up.

Chrysler will NOT buy back the cars from dealerships but GMAC will.

This is what Obama's hope ! There will be thousands of empty lots all across America
Main Street in next 12 months ! Empty car lots to become crime heaven !

Is this what the people voted for Obama to do last Novemeber?

 

[E-Ann-Hilden]

I am starting to question President Obama's auto policies.

Despite President Obama denied his involvement in closing 790 Chrysler dealerships and thousands of GM dealerships, it will push hundreds of thousands of people out of work.

Also small dealerships will close and big ones will merge together and prices will go up.

Chrysler will NOT buy back the cars from dealerships but GMAC will.

This is what Obama's hope ! There will be thousands of empty lots all across America
Main Street in next 12 months ! Empty car lots to become crime heaven !

Is this what the people voted for Obama to do last Novemeber?

Really they have wanted to close many dealerships for quite awhile. There is just too many in major citiesor even smaller ones. Some have over 15. State by State rules make it tough to close them , but the bankruptcy's will make it possible.

I am torn on it really! Most GM dealerships make so little on cars since there is so much competition compared to say a Nissan one. They might make it up on service and parts. GM must sell in bulk at little profit to cater to these people.

But they are ruining family run dealerships that have been around for year and supporting so many people.

It is a tough deal, but bankruptcy always is for many..

 

[tiger1977]

It's about time they filed for bankruptcy. Bankruptcy is the market's way of cleansing itself. This should have happened years ago, but the gov't decided to step in and not allow it. Good riddance. If you're a business and you're not making a profit, then you don't need to be in business at all. (unless you're non-profit of course)

 

[lovejoy]

Last month GM sold 170,000 cars in the US and lost something like $1.5 billion on those operations. They literally lost almost $10,000 for every car they sold in the US. Last month GM sold 150,000 cars in China and made money on every one of them. Instead the restructured GM will be run as a welfare front for UAW workers.

GM will import the Buick and other small cars from China next year and will comprise 25% of all GM cars.

GM sold more than 11-12 million cars in China and made a big profit but sold less than 10 millions and lost billions and billions.

It is time to get rid of UAW, CAW, and Union ie.Teamsters for the truck drivers and become a non-union GM company !

 

[lovejoy]

General Motors (GM) will file bankruptcy (Chapter 11) on Monday.

This signals the end of dominance of American auto-industry in the world.

Also GM Opel will have a new partner, Canadian part company Magna based at Aurora, Ontario and partially funded by the Russian State bank and German Government.

GM will start importing Buick Made In China into United States. W-T-F, Buick (Made In China) to be sold across US and Canada !

But the real issue is in order to save current GM employees, it will cost taxpayers 1.4 millions dollars per 1 job saved at GM.

1.4 millions dollars of taxpayer money per 1 job saved at GM. This is Obama's economic plan.

 

[knowone]

Just announced, GM will close down Saturn, their deal for Penske to take over fell apart.

 

[gunslingingbird]

Oh, goodie! An unearthed lovejoy thread! It's like Christmas in July!