Dude, hate to break it to you, but there is 0% chance of that happening. GM is reaping what they have sown. Crap cars for 30 frickin years (of which I owned 11-12)
I can see clearly now, the Japanese are here.....
03 Maxima 6-speed (Fun!) 03 G35 (Show!)
"GM stock hit a 34-year low ($10.57). Ford's stock tumbled to $4.46 a share. Barron's reports that late last week, "some [funds] designed for individual investors are selling at about 50 cents on the dollar- GM is headed for bankruptcy."
If you don't think it is going to happen, that is fine, but there is a large probability it will.
Hey, I will be the first one to admit GM has screwed up, and that they are in quite a mess right now. However, they are getting back to having an impressive product line. More 30MPG vehicles then any other manufacture, award winning vehicles (Chevy Silverado, Malibu, Impala), and better built vehicles. I totally agree GM needed to get there act in gear in order to compete with the Japs, and I think they actually are. They even beat out Toyota in the Q2 sales.
Yes, they beat Toyota. To do it, they had to essentially give their trucks and SUVs away. They were advertising rebates up to $9000 per vehicle.
Competing with Toyota and Honda for sales in this manner will not help them maintain profitability. It WILL help them move some dead stock.
It is a delicate balancing act.
Apparently there was a news release yesterday in which GM did not take bankruptcy off the table. I havent read it yet, just caught the tip of it in the news. If so, it will be a strategic bankruptcy, I am sure, but may destroy investor confidence. (Heck, if anybody still has any confidence in the market at this point!)
That's bull. Toyo was offering huge rebates (at least around here) too. The fact is, more people bought GM then they did Toyo.
This isn't the first time GM has played the "we may go bankrupt" act. They will get out of this one, just like they always have. Just keep watching ;-)
The fact is that GM did outsell Toyota during that time period. Hard to say why with absolute authority. The huge rebates must have had an effect. I did not notice such a promotion by Toyota around here.
GM is registered as a charity. They sell cars below cost.
Please support your local dealer with a donation so they can continue on their mission to supply cars to people who can not pay the full price.
Of course the rebates helped, but the fact still remains that GM outsold Toyo. More people chose to purchase a GM product then a Toyo product, end of story.
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