Obama the Car Salesman: Companies failing

[JustRalph]

GM and Chrysler are swirling in the toilet after taking on the President as head salesman. Just Maybe we can see the demise of UAW/Obama Motors during the next five years...............

http://gm-volt.com/2009/10/01/guest-post-september-sales-collapse-at-gm/

From the Article:

With the demise of the Cash for Clunkers program last month, it was expected that auto sales industry wide would suffer, however the car buying public continues to be reluctant to embrace the two government supported automakers,shunning both GM and Chrysler in September.

For the month, General Motors reported that sales nose-dived 45% on 156,673 vehicles sold, while Chrysler reported sales off 42%. Certainly some of these losses can be attributed to the vacuum left by the CARS program, but it is impossible to ignore the monthly sales of their peers.

Cross town rival Ford posted a much better than expected net loss of only 5% and ended this quarter up 2%. Japanese rival Toyota was off 13%. The only major automaker to buck the trend this month was Hyundai and its sibling Kia, both offering smaller and inexpensive vehicles, reporting a increase of 27% and 24% respectively.

more at the link

[46zilzal]

These companies were almost as out of touch as Kodak when digital became the standard

[ddog]

GM and Chrysler are swirling in the toilet after taking on the President as head salesman. Just Maybe we can see the demise of UAW/Obama Motors during the next five years...............

http://gm-volt.com/2009/10/01/guest-post-september-sales-collapse-at-gm/

From the Article:

With the demise of the Cash for Clunkers program last month, it was expected that auto sales industry wide would suffer, however the car buying public continues to be reluctant to embrace the two government supported automakers,shunning both GM and Chrysler in September.

For the month, General Motors reported that sales nose-dived 45% on 156,673 vehicles sold, while Chrysler reported sales off 42%. Certainly some of these losses can be attributed to the vacuum left by the CARS program, but it is impossible to ignore the monthly sales of their peers.

Cross town rival Ford posted a much better than expected net loss of only 5% and ended this quarter up 2%. Japanese rival Toyota was off 13%. The only major automaker to buck the trend this month was Hyundai and its sibling Kia, both offering smaller and inexpensive vehicles, reporting a increase of 27% and 24% respectively.

more at the link


SO, it seems the market or what's left of it, is endorsing the exact remedy that has been attempted to be brought into place at the two failures.

Maybe "the market" will adjust. After all , 5 minutes is the extent of memory in this free market.

Another cash for clunks(coming without a doubt) and another home loan giveaway(coming without a doubt) along with stim2 or some other such nonsense and all will be great. Heh, I wonder why the renters don't get some free money to subsidze them?

No lobby for them I guess.

Face it, the place has crashed , it really doesn't matter how much blood(free money) they pump in at this point. Without a systemic overhaul it will bleed out anyway.