I rented a Chevy Malibu for a week long vacation. What a fantastic car !!! It is peppy, good on gas, and handles better than the Toyota Camery I rented last year. With such a great product, I think GM is on the road to recovery.
Back to 0% financing. Another nail to GM's coffin. http://today.reuters.com/stocks/Quo...4577_RTRIDST_0_AUTOS-GM-INCENTIVES.XML&rpc=66
Have you tried this years new Camry? Just wondering because its gone through some improvements as well.
"June and July aren't going to be a picnic" http://www.marketwatch.com/News/Story/5G8JtRvF3bQl0wj2b7R0nWc?siteid=mktw&dist=TNMostRead
Ford, GM financial arms may incur writedowns: Lehman Friday June 20, 7:43 am ET (Reuters) - Ford Motor Co's (NYSE:F - News) and General Motors Corp's (NYSE:GM - News) financial arms may need to write down $1.1 billion and $1.5 billion, respectively, said a Lehman Brothers analyst, who expects U.S. auto credit to be pressured by a weakening used-car market. The weakening used-vehicle market creates a growing problem for the financial arms of GM and Ford as residual values of lease vehicles are likely to be significantly lower than originally expected, analyst Brian Johnson said. "This is especially true for traditional trucks, which have been disproportionately hurt by the accelerating mix shift towards more fuel-efficient cars," Johnson said. Surging oil prices are driving the U.S. auto market to near-decade lows and forcing Americans to avoid trucks and sport utility vehicles in favor of more fuel-efficient cars. In addition to the mix shift seen in the new vehicle market and rising gas prices, large sports utility vehicles (SUVs) and pickups have seen the greatest price decline in the used-vehicle market, Johnson said. "Compounding the issue is the fact that about 75 percent of the financed vehicles were light trucks for 2006-2008 FMCC vintages," Johnson said. With large pickups and SUVs accounting for 40 percent to 50 percent of light truck sales and assuming that 75 percent of financing was for light trucks, the financial arms of Ford and GM will likely incur writedowns, Johnson said. Ford relies on sales of light trucks, including the market-leading F Series pickup trucks, for about 64 percent of its sales in the U.S. market, the world's largest. On Thursday, GM said it delayed plans to redesign its line-up of pickup trucks and SUVs as demand for the vehicles has dropped. Shares of GM closed at $14.79 Thursday on the New York Stock Exchange, while those of Ford closed at $6.32. (Reporting by Tenzin Pema in Bangalore; Editing by Vinu Pilakkott)
I just looked up GM's income and balance sheets. How the fuck is this company not bankrupt yet. They're losing billions and liabilities exceed assets by a little over $42 billion! Who the hell would give them money? Aren't they technically bankrupt?
We all lose if they go under. The rest of the world has been paying high gas prices and have done nothing about it. The rest of the world is asleep. It's going to take USA ingenuity to fix this problem. We have only had + $4 gas for a short period and already GM is coming out with the Volt in 2011 which will not need gas for 80% of the commuting public.
Goldman cuts General Motors, other auto and parts companies Thursday June 26, 7:37 am ET (Reuters) - Goldman Sachs downgraded General Motors Corp (NYSE:GM - News) to "sell" from "neutral," and added the stock to its "Americas Sell List," saying the main risks for the automaker include likely equity dilution, dividend cut and cash burn. "We think GM's automotive cash flow burn this year and next is likely to lead it to look to raise capital, which we believe could lead to significant shareholder dilution and/or a cut to the company's dividend," analyst Patrick Archambault said. Archambault also cut his price target on Ford Motor Co (NYSE:F - News) to $5 from $8. He downgraded Lear Corp (NYSE:LEA - News) to "sell" from "neutral" and Tenneco Inc (NYSE:TEN - News) to "neutral" from "buy." (Reporting by Eric Yep in Bangalore; Editing by Himani Sarkar)