GM is again the world's largest automaker (Chevrolet sales rise two years after bankruptcy)

Los Angeles Times ^ | 01/20/2012 | Jerry Hirsch

[SeekAndFind]

Less than two years after emerging from bankruptcy,General Motors Co.has regained the title of the world's largest automaker.

GM's worldwide sales rose 7.6% to 9 million vehicles in 2011. The Detroit manufacturer last held the top spot in 2007 before it was surpassed byToyota Motor Corp.the next year.

Chevrolet, GM's flagship brand, set a record by selling nearly 4.8 million vehicles. That was more than what many entire auto companies posted in sales last year, including Nissan and Honda.

"It is an accomplishment that GM has been able to reverse the tide in the U.S. and Asia, and they are doing very well in emerging markets considering just a few years ago the company was in real challenging straights," said John F. Hoffecker, an auto industry consultant with AlixPartners.

But selling the most cars is not always an enviable position, analysts said.

"What is important is to be the healthiest, not the largest," said Thilo Koslowski, an auto analyst atGartner Inc."A competition to be the biggest of them all won't help the car industry."

GM once dominated global auto production but produced many vehicles that sold at a loss to keep production lines running and to honor union employment contracts. The automaker lost about $100 billion in the years before its 2009 bankruptcy and government bailout but has been consistently profitable since the restructuring, earning about $1.7 billion in the latest quarter.

GM has repaid $24.1 billion of the $49.5 billion in federal government aid it received. The repayments include the proceeds from the automaker's public stock offering. The government's holdings in the company's stock are worth about $10 billion based on Thursday's closing share price of $24.82.

[ZirconEncrustedTweezers]

This is a good point. I didn’t click the link, but I’ll bet you the article mentions nothing about GM’s inventory.

[blueunicorn6]

The Chinese people gratefully say “Xie xie!” to their friends the American taxpayers for helping to lower the price of GM cars in China!

[ZirconEncrustedTweezers]

“I would have loved a new Camaro. I rented one, great drive, comfy, perfect instrumentation, good power, but will never buy a GM car again.”

I haven’t driven one, but I sat in a Camaro SS on display at the Silicon Valley Auto Show. I’m not a particularly large person, but the Camaro felt claustrophobic to me, especially after sitting in a Boss 302 that was also there.

And as I stated earlier, I will NEVER buy a GM product. With the possible exception of a used Corvette, anyway.

[zavvone]

Wonderful! If that’s the case then

PAY US BACK!!!!!!!!!!!!

[SusaninOhio]

I will never buy a car built by Government Motors. Ever.