GM's down for another quater!

[TAG UR IT]

Originally Posted by stovt001

Hmm, thought I posted this, but it must not have gone through: I personally think being #2 is good for GM. It takes the pressure of keeping the numbers crown off and lets them focus on the real task at hand. Pursuing the #1 spot has done bad things to Toyota. I'll take quality over quantity, and if the product is good, the sales will follow.

You did post that...it's just been a while and in a different thread over the same topic.

[stovt001]

Ooops, sorry about that. Well, I mean it. A smaller but better GM is just fine with me.

[DGthe3]

Originally Posted by Roflmao

Ah didn't realize GM had THAT heavy of an international influence in the market. Still, home base is here and with the economy going the way it is, still makes sense?

Maybe that thing with Toyota was the overall world market? I remember a big article on something with Toyota dethroning something for the first time in history somewhere

They became the most profitable a little while ago, and 1st quarter last year I think they had more sales than GM, but GM made up for that in the second half of the year. In terms of global sales GM is still #1. basically for every two cars they sell in the US, they sell 3 elsewhere. Remember, there are other brands like Saab, Vauxhall, Opel, Holden, that have fairly strong sales in their local markets of Sweeden, England, Germany, and Australia. More Buicks are sold in China than in the US. To them, they rank with BMW's and Acura's. The Aveo (and its clones) is one of the best selling cars in the world. They are still in very good shape in terms of vehicle sales around the world, and in the US market. They will still sell over 3.5 million in North America, and over 5.5 million more around the world. Vehicle sales was roughly $180 billion for GM last year, their costs were about the same. So where did the 38 billion come from? Well simply put, nowhere. I can't fully explain it, but basically from what I understand it was a massive tax deductable or something that had been put off and twisted and tweaked, somehow it ended being 39B in the fall. But nothing like that can happen this year, I assume. Any financial experts on this site? namely corporate taxes?

[stovt001]

Its just an accounting thing. Its a loss, but not the same type of loss as "well we built tons of cars we couldn't sell". It was strictly an accounting loss. It affects the valuation of the Company and its ability to perform to an extent.

[Mr. Wyndham]

And I believe a good chunk of that 38 billion was the payout into the retirement fund for the UAW. That's an ENORMUS plus!! That fund is supposed to last upwards of 80 years: meaning no retirement payouts from GM - it'll take a couple of years to recoupe the payout into the fund - but this is going to free up Lots of money to put into new vehicles, and vehicle quality.

[MCPOAJ]

Ok guys now i feel better because i had a feeling that GM would go outta business or toyoduh is making more and better vehicles or is this true

[SSMUFF]

I doubt they will go under just resize and rethink the way they do business. One thinkg they could do is cut the Union out. Unions where once good but now it is all about give me this and I won't sit on my ass for 55 minutes out of each hour. Or pay overtime after 8 hours each day. Wonder why the cost out ways the safety and luxury of each GM car.