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Old 01-13-2010, 07:39 PM   #1
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Thumbs up Camaro races ahead of GM's profit expectations. It's HIGHLY PROFITABLE.

Camaro races ahead of GM's profit expectations

Retro muscle car far more lucrative than automaker had originally forecast


Jan 13, 2010

Tony Van Alphen
Business reporter


DETROIT–The Chevrolet Camaro muscle car, which General Motors builds in Oshawa, has become far more profitable to the automaker than original forecasts, says company vice-chairman Bob Lutz.

Lutz, GM's product guru, said the iconic car is beating internal sales projections, easily surpassing estimates for average transaction prices and the combination is leading to big profits.

He said GM is making an average of $8,000 to $9,000 (U.S.) more per sale than it anticipated on models with transaction prices in the $35,000 to $40,000 range.

"What is especially remarkable is the average transaction price," Lutz told reporters at the North American International Auto Show.

"It's way, way higher than we expected it to be and the profitability of the vehicle has turned out to be far better than our expectations."

Lutz said one of the reasons for the strong profitability is, ironically, fuel economy. GM promoted the V-6, 300-horsepower, more fuel-efficient model with lower pricing and less profit to encourage sales.
The company then overpriced the V-8, more powerful, less fuel-efficient model to keep its sales down.
In Canada, the manufacturer's suggested price is almost $27,000 (Canadian) for the V-6 model and $37,000 for the V-8 version. But V-8 sales still outpaced the V-6s by a wide margin in both countries.

"End result: 80 per cent of sales, V-8s," Lutz said.

The Camaro ceased production at GM's plant in Ste. Thérèse, Que., in 2002 after 35 years, but was revived in March last year in Oshawa after a concept at the show generated a huge positive response. Production on one shift with some overtime totalled more than 83,000 in less than 10 months last year.

Waiting times for delivery for the Camaro in Canada vary, but could be up to 90 days.

The Canadian Auto Workers pressed GM to add another shift to meet demand but the company has rejected that idea.

Muscle cars normally have a strong sales start for 18 months to two years before gradually losing their momentum.

Automakers add special edition models to boost interest after the initial surge. GM is adding a Camaro convertible model in the first quarter of next year.

The Camaro, which uses ads with such tag lines as "lust conquers all," is up against Ford's Mustang and the Dodge Challenger and Charger, which have posted some good sales numbers in recent years.

Lutz attributed the success of the Camaro to designing more than just a retro car, but one with modern styling cues.

He said original clay models of the Camaro looked a lot like versions from the late 1960s, but then-chief executive officer Rick Wagoner told designers they should do more work.

GM showed Camaro buffs and collectors the second version and they criticized it sharply because the car didn't look like the early models.

"Not looking too much like a '67 turned out to be a good thing," Lutz said.

Quote:
Originally Posted by From: wheels.ca
DETROIT–The Chevrolet Camaro muscle car, which General Motors builds in Oshawa, has become far more profitable to the automaker than original forecasts, says company vice-chairman Bob Lutz.


Link to Article
http://www.wheels.ca/Article%20Category/article/783828
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Old 01-13-2010, 07:41 PM   #2
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NO SURPRISE TO THIS CAMARO FAN!!!
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Old 01-13-2010, 07:41 PM   #3
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Awesome news!
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Old 01-13-2010, 07:42 PM   #4
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Keep up the good work General!
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Old 01-13-2010, 07:43 PM   #5
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Bring on the Z28

If you build it, they will come.
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Old 01-13-2010, 07:43 PM   #6
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Old 01-13-2010, 07:44 PM   #7
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Bring on the Z28

If you build it, they will come.
Very true!!!
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Old 01-13-2010, 08:04 PM   #8
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Not really surprising. Atleast I did'nt think so.
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Old 01-13-2010, 08:28 PM   #9
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Maybe the bureaucrats will wake up and realize that when you give people what they want they are willing to part with their hard earned cash. I'm not surprised that Camaro project is profitable, maybe it will be GM's come back.
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Old 01-13-2010, 08:32 PM   #10
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Super! Great Job. Keep it going.
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Old 01-13-2010, 08:46 PM   #11
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This is probably the best news I've heard all year. Not only does it secure the Camaro's future, but it also opens the door for other performance vehicles.
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Old 01-13-2010, 09:16 PM   #12
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again i must say .
as goes gm so goes the country.
watch the recovery begin...from the seat of a CAMARO!!!!!!!!
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Old 01-13-2010, 09:38 PM   #13
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It was looking bad for a while, but I'm actually feeling pretty optimistic about GM's future. Good time to be a soldier in the General's army!
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Old 01-13-2010, 09:40 PM   #14
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Quote:
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NO SURPRISE TO THIS CAMARO FAN!!!
Quote:
Originally Posted by Luvpilot View Post
Bring on the Z28

If you build it, they will come.
infinity %
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Old 01-13-2010, 09:53 PM   #15
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The Camaro has to be the comeback kid of the decade! I am glad we are all a part of bringing GM back!

I believe the pendulum is swinging!!

Having my Camaro reminded me of the excitement for GM I lost 20 years ago when I bought my first foreign car. Gotta say ... It's great to be back!

Funny story ... went to lunch today with my boss and peers. Boss driving his pretty new Camry. As he pulled out of the parking lot he said, I wonder how many people will be looking at my car.
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Old 01-13-2010, 10:11 PM   #16
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It was inevitable, but sooner than I expected. That's great news, GM is back.

Anybody considering a new car purchase that does not look at GM is making a mistake.
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Old 01-13-2010, 11:09 PM   #17
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It was inevitable, but sooner than I expected. That's great news, GM is back.

Anybody considering a new car purchase that does not look at GM is making a mistake.


I have a Toyota Tacoma too and I feel bad that I didn't get a chevy/GM. I think I'm going to be very loyal to GM in the future. Thanks GM!
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Old 01-14-2010, 12:02 AM   #18
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Is anyone here pissed that they put a "guzzler tax" on the car and pocketed the money? Just think of how cool it would have been if they didn't artificailly inflate the price of the V8 to sell the V6.

So much for the market driven economy!
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Old 01-14-2010, 12:08 AM   #19
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Lets all remember this article and throw it back in GM's face when someone gets their warranty denied because of some aftermarket add on!
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Old 01-14-2010, 12:16 AM   #20
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Good news, as always it seems with the Camaro. If this car exceeds expectations at current levels, I'm very happy -- because it means there's almost no chance of it being canceled again anytime soon! The Camaro is more than an "extra" in the product lineup...it's a viable, important team player!

Quote:
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Is anyone here pissed that they put a "guzzler tax" on the car and pocketed the money? Just think of how cool it would have been if they didn't artificailly inflate the price of the V8 to sell the V6.

So much for the market driven economy!
Oh, don't be such a sourpuss. Designing profit into the vehicle is part of the game. And it's about damn time they do it, so they can make some real money off more vehicles than trucks.

Originally, it was expected that V6 sales would outstrip SS sales...so to make up for that loss in profit, they engineered a little more into the assumed-lower-sales-numbers SS. The plan took an unanticipated turn...in a good way.

Besides, it's still competitively priced, given the content and competitors. Win-win-win!
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Old 01-14-2010, 12:21 AM   #21
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does this also mean that in the future they have room to lower prices??
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Old 01-14-2010, 12:46 AM   #22
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Good news, as always it seems with the Camaro. If this car exceeds expectations at current levels, I'm very happy -- because it means there's almost no chance of it being canceled again anytime soon! The Camaro is more than an "extra" in the product lineup...it's a viable, important team player!


Oh, don't be such a sourpuss. Designing profit into the vehicle is part of the game. And it's about damn time they do it, so they can make some real money off more vehicles than trucks.

Originally, it was expected that V6 sales would outstrip SS sales...so to make up for that loss in profit, they engineered a little more into the assumed-lower-sales-numbers SS. The plan took an unanticipated turn...in a good way.

Besides, it's still competitively priced, given the content and competitors. Win-win-win!


The thing that sucks about this is that for some reason they are INTENTIONALLY trying to steer people away from the V8 car, by inflating the price. I don't mind them engineering profit into the car, it's the fact they are trying to influence people to buy the V6 model. By your statement they didn't need to do this because they were already expecting it to be the big seller.

It leaves me with the impression that the V6 model was all they really cared about and the V8 was just something they put together to satisfy a handful of "squeaky wheel" purists with their unreasonable throwback mentality.

One could wonder what compromises were put into the design to make the V6 profitable at the expense of V8 performance, given they expected the V6 to be the "bread and butter" and the V8 was just there to appease a few enthusiasts willing to pay extra.

How about now that the competition is improving their desigs that we steer a bit of that extra V8 profit into some exotic lightweight materials and maybe some lights across the dash?
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Old 01-14-2010, 01:03 AM   #23
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I have a Toyota Tacoma too and I feel bad that I didn't get a chevy/GM. I think I'm going to be very loyal to GM in the future. Thanks GM!
I moved from my Accord to the Camaro ... When my wifes' Odyssey is ready to be replaced she wants a CTS. That is unless, of course I can convince her she needs my 2010 Camaro so I can get a new one!!!

So, I guess I am now lyal to GM too!
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Old 01-14-2010, 01:04 AM   #24
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It's actually quite the opposite in some cases.

I'll respond in blue.
Quote:
Originally Posted by Captain Awesome View Post
The thing that sucks about this is that for some reason they are INTENTIONALLY trying to steer people away from the V8 car, by inflating the price. I don't mind them engineering profit into the car, it's the fact they are trying to influence people to buy the V6 model. By your statement they didn't need to do this because they were already expecting it to be the big seller.
Of course they're intentionally trying to steer people into it: CAFE is coming, right? With all the tech in the car, you can only price it so low before you go broke...the only other way to incent people to buy it is to discourage the sale of the SS for those on the ropes.

They expected it to be the big seller because of a number of reasons, fuel economy, raw price, performance value, etc...The price difference being one of them. Do you remember the problem they had with the G8 V6s? There was 2-4k difference between the base and GT models. Naturally, an overwhelming amount of G8s were GTs...

It leaves me with the impression that the V6 model was all they really cared about and the V8 was just something they put together to satisfy a handful of "squeaky wheel" purists with their unreasonable throwback mentality.
Impressions aside, this was not the case. The SS got a full performance-suite of parts including an unmolested LS3 straight from the Corvette, Brembo brakes, etc. They could have skimped on all that and made it "extra cost optional" like certain other companies are doing.

I think what it really is...is that the V6 model got just as much attention in order to overcome that "V6 stigma". In comparison to earlier years, it does seem like they care more about it than the SS...but it's not true.


One could wonder what compromises were put into the design to make the V6 profitable at the expense of V8 performance, given they expected the V6 to be the "bread and butter" and the V8 was just there to appease a few enthusiasts willing to pay extra.
You assume that given...and it's not really true. As far as compromises...the V6 is the compromised car. Zeta was designed with the specific goal (among others of course) to house V8 engines and handle their power. So it could be said that the platform was "overbuilt". Whatever you call it, the V6 car could have weighed less, been smaller, and performed better than the current one does...but the Camaro's "ideal" form is that of an SS.

How about now that the competition is improving their desigs that we steer a bit of that extra V8 profit into some exotic lightweight materials and maybe some lights across the dash?
They're certainly not saving it for a rainy day. I can tell you that.
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Old 01-14-2010, 01:25 AM   #25
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I think they did the right thing for all ... and understand their logic behind focusing on the V6. Historically American car makers get slammed for not responding to fuel economy. Say what you will, but for a muscle car, with the V6 they did.

I've said this before; this Direct Injection V6 is a 304hp, virtually 315hp V8 performance. Also, my last car was a 4 cylinder with 29 mpg ...

Being my daily ride and a commuter, and considering what I said above, I got 8 cylinder performance with 4 cylinder mileage!! To me, that's the sweet spot!

On the other hand with the American desire for a muscle car with stellar looks and over the top performance, it's no surprise the V8 is doing as well as it is.

In the end of the day I think GM nailed it raising the Camaro from the dead in such a spectacular way. They have taken a beating in the past, but this time they certainly deserve accolades.

I can't wait to see what's next ...
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