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Old 12-17-2008, 05:25 PM   #1
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CNN report re Chrysler shut down

CNN just reported Chrysler has announced plan to suspend all manufacturing with the end of Friday's shift. Forecast is ALL will be impacted as suppliers will not be paid and this interrupts parts for other 2. Ford has extended the holiday break as well, but is now concerned about supply issues.

It is going to be a rough ride ahead.
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Old 12-17-2008, 05:26 PM   #2
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hang on peeps hopefully GM doesnt go this route.
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Old 12-17-2008, 05:36 PM   #3
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Originally Posted by OUR72GTO View Post
CNN just reported Chrysler has announced plan to suspend all manufacturing with the end of Friday's shift. Forecast is ALL will be impacted as suppliers will not be paid and this interrupts parts for other 2. Ford has extended the holiday break as well, but is now concerned about supply issues.

It is going to be a rough ride ahead.


I have been staying quite on this topic but need to speak out now. I say let Chrysler go down. Then give their share of the bridge loans to GM. Chrysler's parent company has the cash to support them through this time but refuses to invest, opting instead to let the money come from you and me. I have stated this before, and speak by experience; Chrysler still does not know how to put quality in their vehicles. If they were the last American made car I would become a foreign car owner for the first time in my life.

Long Live Camaro (and GM)
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Old 12-17-2008, 05:46 PM   #4
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I would never own a Mopar but they are ALL connected NOW IN THIS WORLD ECONOMY . It is a domino effect from the supplier side. Ford still has money but on Larry King last night Bill Ford said if one goes they all go. Even Toyota does not want anyone to fail now. LOOK UNDER THE HEADLINES.
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Old 12-17-2008, 05:57 PM   #5
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This is very bad. Bush better release those funds immediately. Chrysler's imminent collapse will end GM and Ford over a short period of time.
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Old 12-17-2008, 06:16 PM   #6
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i think the bush administration is holding out as long as possible with those funds until one of the big 3 fold just to prove to the country they had no other choice. From everything I have heard if bush gives the big 3 money there are basically no strings attached and there will be very little oversight (like with the banks). So by holding out as long as possible they ensure the companies absolutely needed the money.

hopefully they dont wait too long. truthfully there is no reason the money shouldnt have been released last friday. The bush administration is just stalling
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Old 12-17-2008, 06:20 PM   #7
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The Detroit 3 have enough inventory piled up to last many months.
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Old 12-17-2008, 06:31 PM   #8
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It's only for a month. Don't get too worried (or overjoyed )...
http://money.cnn.com/2008/12/17/auto...sler_shutdown/



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The Detroit 3 have enough inventory piled up to last many months.
Maybe...but not nearly as much as they used to...not since the most recent strike. It cleared out nearly all inventory. (Was actually a good thing at the time...)
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Old 12-17-2008, 06:38 PM   #9
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I stopped by my dealer yesterday and they sounded very confident that GM would not go into bankruptcy. I guess we'll have to wait and see. It would be nice to have some answers by Christmas.
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Old 12-17-2008, 06:49 PM   #10
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Total GM Inventory, By Vehicle Model

Quote:
Originally Posted by Dragoneye View Post
It's only for a month. Don't get too worried (or overjoyed




Maybe...but not nearly as much as they used to...not since the most recent strike. It cleared out nearly all inventory. (Was actually a good thing at the time...)
Nope, sorry, the inventory is SKY HIGH, 120 days = 4 MONTHS of units. Chevy p/u Trucks are at 3 MONTHS. 5 MONTHS worth of Malibu's sitting on lots now.

Credit to sd455ta on Corvette Forum: http://forums.corvetteforum.com/c6-c...cle-model.html

Source: Automotive News data center


Here are the GM reported inventory figures as of 12/01/08:

First figure is inventory count, second is the number of days to sell that inventory based on the November selling rate.

LaCrosse 13,100 157
Lucerne 16,500 132
Total Buick car 29,600 142
Enclave 13,900 152
Rainier - 125
Rendezvous - 75
Terraza - 158
Total Buick trk. 13,900 152
Total Buick 43,500 145
CTS 16,800 145
DTS 7,600 147
STS 4,000 158
XLR 700 306
Total Cadillac car 29,100 149
Escalade 8,100 108
Escalade ESV 3,000 99
Escalade EXT 1,800 131
SRX 5,300 136
Total Cadillac trk. 18,100 115
Total Cadillac 47,300 134
Aveo (I) 15,600 117
Cobalt 60,400 239
Corvette 10,200 233
HHR 29,100 213
Impala 63,700 124
Malibu 58,400 154
Chevrolet car (D) 221,800 167
Chevrolet car (I) 15,600 117
Total Chevrolet car 237,400 163
Avalanche 7,500 94
Colorado 20,200 202
Equinox 27,500 267
Express/G van 24,600 78
Silverado 113,000 96
Suburban 9,200 60
Tahoe 22,000 133
TrailBlazer 9,100 89
Traverse 22,100 188
Uplander 2,200 93
Total Chevrolet trk. 257,500 110
Total Chevrolet (D) 479,300 131
Total Chevrolet (I) 15,600 117
Total Chevrolet 494,800 130
Acadia 24,700 234
Canyon 6,700 267
Envoy 4,200 122
Savana/G van 6,900 214
Sierra 43,100 103
Yukon 12,600 139
Yukon XL 7,500 109
Total GMC trk. 105,700 136
H2 1,300 139
H3 5,600 115
Total Hummer trk. 6,900 119
G5 10,600 245
G6 37,700 156
G8 (I) 11,300 250
Grand Prix 300 63
Solstice 4,200 319
Vibe 14,100 132
Pontiac car (D) 66,900 163
Pontiac car (I) 11,300 250
Total Pontiac car 78,200 172
Torrent 8,200 272
Total Pontiac trk. 8,200 272
Total Pontiac (D) 75,100 171
Total Pontiac (I) 11,300 250
Total Pontiac 86,400 178
Saab car (I) 6,500 227
Saab truck 1,200 231
Total Saab 7,800 228
Astra (I) 7,300 164
Aura 17,300 200
Sky 2,900 272
Saturn car (D) 20,200 208
Saturn car (I) 7,300 164
Total Saturn car 27,400 194
Outlook 8,000 163
Relay - 300
Vue 25,100 186
Total Saturn trk. 33,000 180
Total Saturn (D) 53,200 189
Total Saturn (I) 7,300 164
Total Saturn 60,500 186
GM car (D) 367,600 161
GM car (I) 40,700 197
GM car 408,300 164
GM trk. 444,700 122

GENERAL MOTORS 853,000 139
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Old 12-17-2008, 06:53 PM   #11
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Oh, my........

Sorry 'bout that!
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Old 12-17-2008, 07:07 PM   #12
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With that kind of inventory it sure looks to me like you should be able to get yourself a great deal on a corvette. Its not a camaro, but, they are selling for about 89% of sticker and i bet most dealers will take less.

Its still more then a camaro, but, we are gonig to be paying MSRP for those. If you want a plain 1LT C6 you can probably get close in price to a loaded 2SS/RS. Sure makes you pause a bit.

NOT....
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Old 12-17-2008, 07:19 PM   #13
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I'll take a Corvette and the Caddy truck... since GM needs to help get them off the books. I'll even fly to the plant to pick one up for free.

180,000 silverado's. Hard to sell truck atm. Dodge is selling them like at half MSRP.
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Old 12-17-2008, 07:31 PM   #14
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Here's the story.
http://www.ctv.ca/servlet/ArticleNew...hub=TopStories
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Old 12-17-2008, 07:33 PM   #15
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And also this story:

Chrysler Warns Dealers About Loans to Fund Car Inventories
By NEAL E. BOUDETTE

DETROIT-- Chrysler LLC's financing arm has warned dealers it may have to temporarily stop loans that dealers use to pay for stocking vehicles on their lots as a result of a recent wave of withdrawals from a fund used to pay off those loans.

In a letter dated Dec. 12, Chrysler Financial Chief Executive Tom Gilman said dealers have been withdrawing up to $60 million a day from the fund, according to a copy of the letter that was reviewed by The Wall Street Journal.
More


Dealers familiar with the matter said they started pulling money from the "cash management account" because of fears that Chrysler's auto operations could be forced to file for bankruptcy. "Everybody is concerned about that," said one dealer who did not want to be named.

Chrysler Financial allows dealers to put money into the cash management account and pays them 2% interest. The money is then used to make payments on the loans dealers take out to buy new cars.

In the letter, Mr. Gilman said more than $1.5 billion has been withdrawn from the CMA fund since July.

"Continued significant levels of withdrawals from CMA could potentially force us to temporarily suspend wholesale funding," he wrote. He asked dealers not to withdraw "beyond what's absolutely necessary."

News of the letter was reported by Bloomberg News.

Suspending loans for purchasing new-vehicle inventories would be a tough blow for Chrysler. Dealers wouldn't be able to order cars and Chrysler's revenue could plunge, since auto makers book car sales when cars are shipped from plants to their dealers.
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Old 12-17-2008, 08:27 PM   #16
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GM said to stop work on plant that will be used for the Volt. Looks like they are about to say, no money to help us stay afloat then we will delay the "green" machine.
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Old 12-17-2008, 08:34 PM   #17
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This is getting dark......:(
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Old 12-17-2008, 08:54 PM   #18
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dragon you were right a couple months ago, but when the sales took a nose dive thats when the invetories went up. They are just adjusting now to meet demand because I dont care what anybody says no one could of predicted this.
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Old 12-17-2008, 08:59 PM   #19
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Ouch.
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Old 12-17-2008, 09:05 PM   #20
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GM sells toyota's, ever see a pontiac vibe, it is all toyota matrix with gm badges

also GM sells daewoo, ever see a chevy aveo, it is a daewoo with gm badges

i hate having to work on these gm models
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Old 12-17-2008, 09:14 PM   #21
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I learned something new. Post retracted.
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Old 12-17-2008, 10:13 PM   #22
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Chrysler out for a month?!

I heard in the news today that Chrysler will stop producing cars for a month, until the end of feb,And then start back up.
Ford was also mentioned, news said ford was shutting down 10 of its plants.

Any of you guys hear the anything?
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Old 12-17-2008, 10:24 PM   #23
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GM will be idling plants through January as well.

What else have I heard? That toyota is on track to lose $1.1 billion in the second half of its fiscal year. That honda's cut their profit forecast due to declining sales.

Everyone is in trouble. Not just us, not just Ford, not just Chrysler. Everyone.
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Old 12-17-2008, 10:27 PM   #24
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Yea its been looking at way and getting worse.
So we have a problem?
How can this be solved?
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Old 12-17-2008, 10:35 PM   #25
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get a better congress...
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