M
markomalley
Guest
Per the Detroit News:
The auto industry is on course to have its best U.S. car sales year since 2007.
In the first nine months of the year, automakers sold 10.9 million vehicles in the U.S. Industry analysts expect 2012 sales of around 14.4 million.
September sales were up 12.8 percent from the same month a year ago, as buyers continued to snap up small cars.
Jessica Caldwell, senior analyst at Edmunds.com, believes sales will continue at a strong pace as shoppers replace aging vehicles and as credit remains widely available and fairly cheap.
“Pent-up demand, it’s still being played out,” she said.
Chrysler Group LLC continued its run to recovery. Its sales were up 11.5 percent from last September, beating analysts’ forecasts.
However, General Motors Co. and Ford Motor Co. fell short of analysts’ expectations. GM sold 1.5 percent more cars and trucks than a year ago, while Ford sold 0.2 percent fewer.
I can’t believe I feel a little sorry for GM. But I do. They wanted to get the government to sell off their shares, but the government said that they weren’t going to sell.
Per the Wall Street Journal:The Treasury Department is resisting a push by General Motors Co. to sell the government’s entire stake in the auto maker—the latest source of tension between two unlikely partners thrust together at the depths of the financial crisis.
U.S. taxpayers kept the nation’s largest auto maker by sales afloat with a $50 billion bailout in 2009 and now own 26.5% of the Detroit company.
But GM executives have grown increasingly frustrated with that ownership, and the stigma of being known as “Government Motors.” Executives have said the U.S.'s shadow is a drag on its reputation and hurts the company’s ability to recruit talent because of pay restrictions. Privately, executives are also irked at the continued curbs on corporate jet use.
Maybe, also, GM wants to dump that money-pit, the Volt. If it wasn’t for all the US Government contracts to GM for its vehicle fleet, I wonder how bad GM would actually be doing.
The auto industry is on course to have its best U.S. car sales year since 2007.
In the first nine months of the year, automakers sold 10.9 million vehicles in the U.S. Industry analysts expect 2012 sales of around 14.4 million.
September sales were up 12.8 percent from the same month a year ago, as buyers continued to snap up small cars.
Jessica Caldwell, senior analyst at Edmunds.com, believes sales will continue at a strong pace as shoppers replace aging vehicles and as credit remains widely available and fairly cheap.
“Pent-up demand, it’s still being played out,” she said.
Chrysler Group LLC continued its run to recovery. Its sales were up 11.5 percent from last September, beating analysts’ forecasts.
However, General Motors Co. and Ford Motor Co. fell short of analysts’ expectations. GM sold 1.5 percent more cars and trucks than a year ago, while Ford sold 0.2 percent fewer.
I can’t believe I feel a little sorry for GM. But I do. They wanted to get the government to sell off their shares, but the government said that they weren’t going to sell.
Per the Wall Street Journal:The Treasury Department is resisting a push by General Motors Co. to sell the government’s entire stake in the auto maker—the latest source of tension between two unlikely partners thrust together at the depths of the financial crisis.
U.S. taxpayers kept the nation’s largest auto maker by sales afloat with a $50 billion bailout in 2009 and now own 26.5% of the Detroit company.
But GM executives have grown increasingly frustrated with that ownership, and the stigma of being known as “Government Motors.” Executives have said the U.S.'s shadow is a drag on its reputation and hurts the company’s ability to recruit talent because of pay restrictions. Privately, executives are also irked at the continued curbs on corporate jet use.
Maybe, also, GM wants to dump that money-pit, the Volt. If it wasn’t for all the US Government contracts to GM for its vehicle fleet, I wonder how bad GM would actually be doing.
