Not looking to be pessimistic, BUT... GM Bankruptcy thoughts?

[JDBeck23]

Hey guys, I've been lurking here for the passed couple weeks. Just submitted an order with Country Chevrolet for a 2SS/RS CGM and am learning now that it seems damn near certain that GM will file bankruptcy this summer.

Im not exploding about it. Im just wondering what you guys are thinking as far as how that will affect production, car prices and dealerships motivation to lower the prices.

At first I was thinking I made a mistake ordering a camaro and shortly after I would be screwed because GM filing bankruptcy. Although I doubt they'll be in the same boat as Chrysler, I think GM will file bankruptcy to split off the less profitable sides of their business and trim the fat. What im wondering is how that will hurt production, and thus the car Im hoping to get by July or August.

Second thing is... given the huge demand for the new camaro, I would think a slowing in the production would only increase the price of the camaros that are actually on the lot. Since there wont be any new ones coming in the near future at that point. But at the same time, dealerships closing down due to the lack of new car inventories would also counter-act the supply/demand frame of thought.

What do you guys think? Should I withdraw my order and wait? Or leave my order and hope for the best?

Side note: the dealership I ordered from was an "at MSRP" dealer, but they wanted a 2500 dollar non refundable deposit. I went with this because I figured if I really wanted out of the order, I could get out of it, even though they say it's "non refundable". I ordered over the phone with a credit card for down payment, if push comes to shove I can tell them I never signed anything about non refundable, and I can just call my CC company and have them return payment. So what im wondering is, should I withdraw my order (only placed a few days ago) and maybe I can order a camaro in June under MSRP when the suspected bankruptcy comes out?

[Xmicro_SS]

I personally am leaving my order in.....GM is not going anywhere. This car is too good a value to give up. Not to mention one of the Best Looking Cars on the Road.

[JDBeck23]

Definitely true Xmicro... I dont think GM is going anywhere either, just wondering how long it's gonna take to actually get the car, especially with the "summer shut down". Is that still true? I read that GM has started saturday shifts to get the Camaros out, but are they still planning to shut down for 2 weeks in July??

[Maddtim]

My order isn't going anywhere either. You've hit the nail on the head with what will happen in a GM bankruptcy, they'll trim the fat. What I don't think we'll see is a slowing of production. Remember, any raising of the price is done at the dealership level, meaning the dealership and not GM receives that benefit. It would serve GM no purpose to lower production to artificially maintain over MSRP pricing. Also, it's a fine line between raising the price and losing sales, and going lower to increase sales(and possibly overall income). And your timeframe on your order may be a little off. Hopefully they'll take care of all the R6P people and get their cars built. Some are still at 1100 even when they ordered on 10/13. Yeah, their dealership hasn't gotten the allocation to do the build yet(or gave it someone else) but they should still get some priority to get their cars built. Maybe August/September might be more realistic(unless of course you're one of the lucky ones who ran across a dealer with allocations left AND was able to get it submitted immediately instead of having to wait for GM to pull it).

Edit - The summer shutdown is OFF at Oshawa, they'll keep production going

[Mason44]

just going to wait and see what happens

[JDBeck23]

Well having my order in at MSRP is fine with me. I have something "locked in" so to speak. Im not really worried about when I actually get my car, as long as it's not december! It gives me a ton of time to sell my current car (that I bought new last year... oops).

Just wanted to see how everyone else felt about the situation.

Good point MaddTim, Im sure that GM will do everything in their power to spit out camaro's, it's the only thing they have right now that's flying off the shelves!

[ControlFreak]

If this car is'nt a neccesity, why not wait a little longer? Waiting won't hurt anything, and you could decide maybe you don't want to pull the trigger.

[Xmicro_SS]

Originally Posted by JDBeck23

Definitely true Xmicro... I dont think GM is going anywhere either, just wondering how long it's gonna take to actually get the car, especially with the "summer shut down". Is that still true? I read that GM has started saturday shifts to get the Camaros out, but are they still planning to shut down for 2 weeks in July??

Yes, they close for vacations in July. But I have heard from my dealer they are stepping things up and they should move faster than originally anticipated.

[Silver Streak]

Originally Posted by Xmicro_SS

I personally am leaving my order in.....GM is not going anywhere. This car is too good a value to give up. Not to mention one of the Best Looking Cars on the Road.

[Milk 1027]

watch the video on here and read my comment.
http://www.camaro5.com/forums/showthread.php?t=18950

and here:
http://www.camaro5.com/forums/showpo...28&postcount=2

[OUR72GTO]

Oshawa IS NOT closing down at all.......... it was removed from that list last week.

[Lovestanda]

I am not going anywhere. Can't see GM's issues effecting this car as is. We already know the Z28 is delayed but, I don't think anything else will happen at all!! Just sitting around waiting for my SS to arrive!!!

[KJS]

Originally Posted by JDBeck23

Just submitted an order with Country Chevrolet for a 2SS/RS CGM and am learning now that it seems damn near certain that GM will file bankruptcy this summer.

At first I was thinking I made a mistake ordering a camaro and shortly after I would be screwed because GM filing bankruptcy. What im wondering is how that will hurt production, and thus the car Im hoping to get by July or August.

Second thing is... given the huge demand for the new camaro, I would think a slowing in the production would only increase the price of the camaros that are actually on the lot.

What do you guys think? Should I withdraw my order and wait? Or leave my order and hope for the best?

Side note: the dealership I ordered from was an "at MSRP" dealer, but they wanted a 2500 dollar non refundable deposit. I went with this because I figured if I really wanted out of the order, I could get out of it, even though they say it's "non refundable". I ordered over the phone with a credit card for down payment, if push comes to shove I can tell them I never signed anything about non refundable, and I can just call my CC company and have them return payment. So what im wondering is, should I withdraw my order (only placed a few days ago) and maybe I can order a camaro in June under MSRP when the suspected bankruptcy comes out?

Thoughts on your post:
First - The Oshawa factory will not be closing as will some U.S. factories. Perhaps someone there can tell is if they will close for two weeks in the summer as is normal, or since there is no model year change over for the Camaro if it is going to stay open.

Second - respect the Camaro by using the capital "C" when spelling it! LOL

Third - it is difficult to say where the price will be 6 mos, or a year, 5 years from now. The thing about "price" is this - can you afford it and is it a fair price when you buy it?

Fourth - Your side note - we've given some pretty hard hits to dealerships, but what you're doing is...unethical. They told you "Non-refundable", so you're going to lie and say you never signed anything? Thats not going to work and is pretty sh***y on your part. Yea, the dealership will probably be able to sell it when it comes in, but still...you're doing the wrong thing here pal.

Finally - I wouldn't be overly concerned about GMs bankrupcy, except if you're one of its bond holders. Filing chapter 11 buys them time to reorganize and still continue doing business. It may impact some of the smaller suppliers, but there will be a GM for a long time.

[CWI]

Even in bankruptcy, GM will restructure and keep on going for a long time to come and they will thrive once the economy straightens out.

I do know part of the plan calls for many dealers to un-diversify next week. They want Chevy dealers to just be Chevy dealers again. Not Chevy/Volvo/Hummer and so on. This will be a good thing for Chevy buyers, They will get better service and treatment than in recent years.

Chevy parts and service will be around a long time if that's what you are worried about. Going out of business will not happen, GM has too many government contracts for that to happen. Same reason AIG wasn't allowed to fail, I understand they hold the pensions for our fine congressmen. Go figure.