GM Parks 510,000 Cars With Dealers, 31% Higher Than Year Earlier

[Twisted Titan]

http://www.zerohedge.com/article/gm-parks-510000-cars-dealers-31-higher-year-earlier



One more month, one more chance for GM to stuff its dealers with cars. Sure enough, in the just release January sales PR, the company announced that "General Motors dealers in the United States reported 178,896 total sales in January, a 23-percent increase from a year ago for the company’s four brands. The gain was driven by solid retail sales which were 36 percent higher than a strong January a year ago." And behind the scenes, GM has continued to shove a whopping 510,000 cars with dealers: In January 2011, the firm had 510k cars at its dealers, compared to just 390,000 in January 2010, a 30% increase. Furthermore, as the only component of consumer credit that is surging, non-revolving loans, indicates that virtually all car purchases are made based on the old formula of "no money down." And with the government backstopping both the car maker and the lender banks, we would be very interested in discovering just how bad the delinquency rate in non-revolving car debt is over the past year, especially as it relates to GM.

[ShortJohnSilver]

"Crack up boom" ... might as well make cars and try to sell them, since they can borrow at near 0% interest rates.

[kregener]

GM is toast. Has been for years. Bailouts notwithstanding.

[Twisted Titan]

Who they hell is going to soak up that 31% increase??

Who can possibly do it???

[Ponce]

Because the company is now part of the US government I don't believe the number.

[ShortJohnSilver]

Who they hell is going to soak up that 31% increase??

Who can possibly do it???


Korea's currency, the Won, is on a tear, appreciating vs. USD. Euro currency, Japanese currency, also strong vs. USD.

Toyota's Yen-calculated earnings decrease from US operations everytime the currency gets stronger; now this will start happening to Hyundai, Kia, as has already happened to German makers like VW, Audi, BMW.

GM and Ford will be left with the domestic market pricing advantage.

Maybe? What are your thoughts?

[Ponce]

Remember that GM is selling more cars in China than in the US and if you were to add all the cars that they are selling around the world then who really cares about the US market?

[skid]

I'm in the midst of purchasing a new GM pickup truck for my company. Plus it appears that GM makes the most powerful diesel pickup as a magazine just tested both the GM and Ford and the GM outpulled the Ford like crazy.

[mick silver]

buy a ford . i just dont see them selling that many more cars . they had the cash for cars that help to drive sale last year . what are they going to do this year to get buyers out .

[iOWNme]

GM is toast. Has been for years. Bailouts notwithstanding.


Lets ask Will Durant who he blamed for his beloved GM going under.......

http://en.wikipedia.org/wiki/William_C._Durant


In the 1920s, Durant became a major "player" on Wall Street and on Black Tuesday joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks, against the advice of friends,[2] in order to demonstrate to the public their confidence in the stock market. His effort proved costly and failed to stop the market slide. By 1936, the 75-year-old Durant was bankrupt.[2]

After the fall of Durant Motors, Durant and his second wife lived on a small pension provided by Alfred P. Sloan on behalf of General Motors. He suffered a stroke in 1942, which left him "a semi-invalid",[2] and managed a bowling alley in Flint, Michigan until his death in 1947. He was buried in a private mausoleum at the Woodlawn Cemetery in the Bronx, New York.

Durant was inducted into the Junior Achievement U.S. Business Hall of Fame in 1996.

Durant Park in Lansing, Michigan is named after him.

[Ash_Williams]

buy a ford . i just dont see them selling that many more cars . they had the cash for cars that help to drive sale last year . what are they going to do this year to get buyers out

That's easy... if your car is more than x years old you should have an emissions test and safety check each year. It will make our roads cleaner and safer. And if it also means a bunch of people financing a new car at $300 a month because they can't afford a $1200 repair bill... well that's just a coincidence.

[Ponce]

Well Ash, my 20 years little Toy truck has never broken down till I forgot to check the water leverl and my engine went kaput (radiator leak).........cost me $1,500 to get it fix but, better than buying another truck........but of course my little truck will only pull 1,000 lbs.

[Ash_Williams]

Well Ash, my 20 years little Toy truck has never broken down till I forgot to check the water leverl and my engine went kaput (radiator leak).........cost me $1,500 to get it fix but, better than buying another truck........but of course my little truck will only pull 1,000 lbs.

It's all good if you have the cash.

If you don't then it becomes a strange world. You might not be able to borrow $1500 to repair your car... but borrowing $20,000 to buy a new one is no problem. So to some people, this becomes a "solution". They can't come up with $1500, but they can come up with $400 for their first payment thanks to "no money down".

Being short on cash is expensive!

[jimswift]

GM who? That outfit went out of business.

[FreeEnergy]

I'm in the midst of purchasing a new GM pickup truck for my company. Plus it appears that GM makes the most powerful diesel pickup as a magazine just tested both the GM and Ford and the GM outpulled the Ford like crazy.


Read Ford's book "My life and work". He clearly outlines there what's wrong with american manufacturing, and it was written in the beginning of the 19th century. He also had a company with patsies that when he split from started calling themselves Cadillac.

GM is a bunch of overpriced, undermanufactured, customer-stuffing, insider-gubbermint-sales hot shots and these days also harward educated trader/lawyer jews (who don't understand a thing about manufacturing cars), and that bunch is going down. Why would you want to buy a truck from them when you know they are stiffing you? He-he, they "outpulled" :))) buy a Mack (now Volvo I think) truck then if you need that much pull.

re: ponse -
I don't buy trucks, but my buddy who does says there's no more "small truck" category on the market, you can't buy one, period. It's all "giant", "we can pull more" etc. gas guzzlers. You also can't buy a truck that you can easily modify, this is also on purpose. Let 'em Rockfeller bastards rot, don't give 'em a single dollar.