Scary times for GM fans

[Eric-Blk2004]

http://money.cnn.com/2008/11/07/news/companies/gm/index.htm?postversion=20081107 11

Scary times indeed. Never thought I would see the General fall down.

[Dr Caleb]

Not just GM . . .

http://www.cbc.ca/canada/story/2008/11/07/auto-sector.html

Everyone is taking it on the chin.

[TAKEDOWN]

How come we don't see much of a price difference on cars they're attempting to sell?

[offroadkarter]

How come we don't see much of a price difference on cars they're attempting to sell?


Like the flex, which is still 40 grand :rolleyes:



Sad times for the American auto maker. We used to be the leaders of the industry, and now :alone:

[quota]

I recently saw huge discounts (up to 25% down) on the Navigator and Expedition.

But I do not believe that "discount" would be a key factor in a market that is seriously and badly hit by the financial / credit crisis. On the other hand, it is surprising that FORD is not speeding up the availability of the new FOCUS and the new FIESTA. These very smart small cars could lift the sales as they would sell below the 20K level, while offering top quality features in their segment.

JP

[ChiTownMaraud3r]

They need to start controlling expenses starting top down, white-collar jobs, (ex.. bonuses when not even turning profits).

Blue-collar jobs, seems employees get paid too much for their work due to regulated unions.

Was talking to a woman not too long ago, who said her job was cake at the ford plant on the south side here, making upwards of $30 an hour for screwing bolts.. They could hire more people at cheaper labor costs here and still save.

Just my opinion. :dunno:

[Aren Jay]

This is what happens when you play the open market with countries that are closed markets. It hurts you and not htem in the long run.

If Canada and the USA had made it a condition of sale that for every Japanese or Korean or British or German etc... Car imported into North America that a North American car be sold over seas we wouldn't be in this mess.

Who can we blame?

We the people...

[Eric-Blk2004]

That would never been passed. We are a capatialist country. Competition, free market, no barrier to entry exit. That notion would go agaisnt every free trade act capatialist support.

They made superior products for the market. Fun fact - GM got upset at a press conference because the Japanese and other Asian markets were not buying their cars in the early 1990's. The reporter stated that if GM put the steering wheel on the right side of the car it might help GM sales. GM said "We will put the steering wheel on the right sied of the car once the demand for our cars go up."

That quote shoes American business and the mind set of companies. Why tailor a product to a demographic or a market? The American companies refused to tailor their product to other markets. Its this ideal that cost us the economic war globally. Did you know honda was the first car company to put in cup holders. Why? For the American market. They did not have a demand for cupholders in Japan, but in America there was a demand so they retro fitted cupholders for our market, and the rest is history.

Its interesting to see how these corporations handled themselves and hopefully the new breed of business will not make the same mistakes.