Current gas prices are not the main issue. GM has been making junk for 20 years, losing market share to Toyota, Honda, etc. It won’t be long before China makes and sells its own version of “GM Junk”, and that will finally put GM out of business.
To be frank, it sounds like you are HAPPY China is taking over American companies.
What’s your problem?
Sounds like most (2/3) of the money lost was in the book value of lease vehicles. They won’t get as much for second hand SUVs as they had anticipated.
I owned a new ‘86 Astro and it was good, reliable vehicle, nothing junk about it at all. I also owned a new ‘97 Ford Ranger, same thing.
Where Detroit is losing me as a customer has been in smaller commuter vehicles. They don’t have anything in their stable to compare to Corolla, Civic, Camry, Subaru, etc. imho.,
That’s B.S. In recent years, GM has been making some very good cars, and Toyota’s quality is dropping. Honda’s quality is still pretty good, but their designs are horrible.