Posted on 12/11/2009 8:57:47 PM PST by Reaganez
Will consumers buy from a bankrupt auto maker? There always are bargain hunters, but I was certain many would stay away.
With Pontiac and Saturn out of the picture, I figured General Motors would be down to 16% market share, losing perhaps another 3% as worried potential buyers talked themselves out of visiting a GM showroom.
That would have left GM with as little as 13% share. At least, that’s what I figured, and I have a lot of experience covering failing auto companies.
So far, I’m wrong. GM’s market share has been climbing since it left bankruptcy, hitting 20.2% in November. In 2009’s first quarter, its average share was 18.7%.
I expected the bankruptcy to stifle sales to the point that Toyota and even Ford would catch GM during at least one month in 2009. But it hasn’t happened. GM is likely to end the year with 2 million car and truck sales in the U.S., roughly 300,000 units ahead of Toyota and 400,000 units ahead of Ford.
I also figured Toyota or Ford would outsell GM in 2010. The gap between the three top sellers was cut in half in 2009, but I might have to back off the prediction. Toyota has its own troubles with safety and recall issues right now, and Ford isn’t moving up as fast as I foresaw.
This still could change: Perhaps the full effect of Pontiac and Saturn shutdowns has yet to materialize. The Chevy Cruze small car already is late coming to market. Bad things still could happen.
But GM vehicles have been getting good reviews and publicity lately, and a lot of solid new product is coming. The Chevy Equinox and GMC Terrain cross/utility vehicles, Buick LaCrosse sedan, Cadillac CTS sportwagon and SRX luxury CUV are all-new, and we’re seeing lots of coverage of upcoming cars such as the Cruze, Chevy Camaro convertible, Buick Regal, Cadillac CTS coupe, and Chevy Volt extended-range electric vehicle.
It’s a long and impressive list.
Complete Article in Link
I know several people who have told me they would not purchase from Government Motors, and that the idea of a foreign car is no longer on the icky list.
Chevy’s new advertising campaigns are are very well made. I believe that Dimocrats are swallowing it.
I will never purchase a GM or Chrysler product period. I have owned both brands and they were terrible. Toss in the boot-licking and that seals it for me.
Put me down in the category of who cares about what they build or sell.
There's no such thing. My last five "foreign" cars have been built in the USA by American workers.
Better cars, and my money doesn't enrich the UAW.
The Obama Administration orchestrated a massive theft on the bond holders and the American public in order to save the UAW. The way that they handled this was repugnant and changed over two hundred years of bankruptcy law by fiat and at the whim of an administration. The idea that the courts and the legislature allowed this to happen should send a shiver through every one who believes in the rule of law.
Dear Poster,
It’s spelled hocked, not hawked.
Sincerely,
Ford Driver
Who cares how many cars they’re selling- they’re probably still losing money on every one they sell.
So they are going to pay us back then, right?
You have hit the nail on the head here. This administration does not care about the rule of law at all. It regards that quaint notion as an obstacle to be circumvented in any way possible to achieve their objectives.
Funny, I live in a big city and see several new cars and none of them are the GM brand.
My first wife and I test drove a Buick LaCrosse two weeks ago and will probably buy one sometime next year when we can get the color we want and the new 3.2 engine proves itself. I read a story that the GM vehicles are selling well in China...
The Obama Administration orchestrated a massive theft on the bond holders and the American public in order to save the UAW. The way that they handled this was repugnant and changed over two hundred years of bankruptcy law by fiat and at the whim of an administration.
Dear GM fanboy,
I nor my family will never buy or own a GM or Chrysler product, ever. That includes if I win one via a lottery or whatsoever...I will have it loaded on a haul truck and taken to be sold as either scrap metal or sold at the nearest accommodating dealorship.
Sincerely,
Nearly anything but a GM or Chrysler car owner.
Losing it by the train car load, that's why they cut the deal with china the other day, needed the money, GM will be China motors is five years if not sooner.
"HONG KONG — General Motors’ sale on Friday of a 1 percent stake in its main venture in China, coupled with a new India venture with its Chinese partner, should provide the automaker with about $400 million at a time when its overseas operations need cash to restructure and expand." Story was posted here!!
I have seen a ton of new State Trooper Chevy’s in the past several months. How much ‘stimulus’ money went into fleet increases for state and fedgov in the past 12 months?
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