GM, Chrysler and Ford news, all in one thread!

 

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May 22, 2012, 06:47:07 PM

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[oztiks]

I could create about 20 different threads which contradict each other, but I thought I'd offer an "abridged" version of the American Car Industry this week:


GM's has been given until the end of May to "dramatically shrink" its $70B in debt, and Chrysler has until the end of April (2 weeks?) to complete negotiations with Italian automaker Fiat SpA, even though Fiat is getting ready to walk (Fiat CEO: Concessions or no alliance with Chrysler).

GM, just being.... GM:

Rumor: Cadillac Converj and Electric Buick Crossover Approved for Production.

Even though General Motors Contemplates Axing Pontiac And GMC Brands, rather than work on consolidating (eliminating?) the brand and figuring out how to sell the cars they CURRENTLY make, Pontiac are more interested in speculating on resurrecting the old models that were likely axed for a reason. I guess they got this idea from GM (Camaro) and Chrysler (Challenger, Charger):

Pontiac dealers will have to wait to learn about brand’s strategy, Trans AM Firebird may return.

I guess Chrysler's SRT division is still alive and kicking, as a sketch of the 2012 Grand Cherokee SRT8 has been released.

But, despite the fact that:

76% of Americans would rather see GM and Chrysler go bankrupt, GM has been told to prep for bankruptcy filing, and GM to close down 1,700 dealerships by June 1st, The Obama Administration says: Government to buy 17,600 US cars by June 1 ($285 million).

Although, maybe there is some light at the end of the tunnel, as GM Q1 Sales in China Hit New High, and Oklahoma investor group makes offer for Saturn.

It's going to be a bumpy ride. And this is just the view of the American Carpocalypse. The Germans and Japanese have their own problems as well..

[IlovemyFX]

Nice summary Oz.  It's kind of like watching a soap opera.....and a three stooges movie all at the same time.

[oztiks]

Yup

[timecurve]

Finally! I'm sick and tired watching goverment pull by the hair GM with their crappy unsellable products. Let the market and healthy competition take its course. Strongest will survive. I think aside from Cadillac the whole GM line is crap. I don't want to offend anyone here, this just my opinion. Sometimes when I see for example Chevy Malibu passing by, can't help but ask myself, why would anyone buy it? Unreliable, ugly, ineficient and expensive! Why?

[Rippling Hurst]

Does this thread include all the brands in trouble?

Mercedes now is reported to be losing a billion per month.

http://www.formula1blog.com/2009/04/09/4510/

[oztiks]

Finally! I'm sick and tired watching goverment pull by the hair GM with their crappy unsellable products. Let the market and healthy competition take its course. Strongest will survive. I think aside from Cadillac the whole GM line is crap. I don't want to offend anyone here, this just my opinion. Sometimes when I see for example Chevy Malibu passing by, can't help but ask myself, why would anyone buy it? Unreliable, ugly, ineficient and expensive! Why?

Even cadillac is questionable to me

Does this thread include all the brands in trouble?

Mercedes now is reported to be losing a billion per month.

http://www.formula1blog.com/2009/04/09/4510/

Nope. Not by far. Toyota, Lexus, etc have posted record losses as well..

[timecurve]

You know what's strange to me is that US the innovator and the engine of the technological progress, a place where innovation flourishes on all fronts and cross industries cannot build an automobile that can compete with germans and japanese. How is that possible? We're nearly colonized that planetary orbit, we have hubble telescope, we solved genom problem, we have Apple with their incredible innovative devices and user interfaces, a whole world is flying on Boing planes! Why is it so damn hard to build a good car?

[Ohmster]

Boing planes!

Sorry, had to laugh. We had a tech here that would label Boeing parts that way.... 

[Rippling Hurst]

You know what's strange to me is that US the innovator and the engine of the technological progress, a place where innovation flourishes on all fronts and cross industries cannot build an automobile that can compete with germans and japanese. How is that possible? (...) Why is it so damn hard to build a good car?

Lee Iacocca:

What's the matter with Detroit?

Let's start with health-care costs - the legacy costs. There are lots of retirees out there. They've earned what they're getting, but we can't afford it anymore. The world has changed. To use a GM number that I quote often, Toyota (Charts) pays $200 per car in retiree health care; GM pays a little over $1,500 a car. That's a tough albatross to carry.

People are living longer, and the government and the union and the Big Three have got to get together and see what they can do to collaborate. The union contract is coming up in September. That's a watershed contract. The current contract is too rich.

  (link)

When you're making money, you can afford better quality control.  For instance if something bad is detected (bad fitment, a scratch, panels don't match as they should, orange peel detected).  If you can afford, you just do it again, if it's not right, you buy better materials.  If the supplier does not send plastic or some parts lacking some agreed standard, you return it or find another supplier, but NOT however if you owe him money.  LOTS of money.  Of if you have a life time contract, like they have with some dealers. 

Things got difficult.  Too difficult, I'm afraid.

[Liquid Platinum M35]

here's another wtf for ya:

Corvette Grand Sport

GM, Chrysler and Ford news, all in one thread!

[oztiks]

Lee Iacocca:
  (link)

When you're making money, you can afford better quality control.  For instance if something bad is detected (bad fitment, a scratch, panels don't match as they should, orange peel detected).  If you can afford, you just do it again, if it's not right, you buy better materials.  If the supplier does not send plastic or some parts lacking some agreed standard, you return it or find another supplier, but NOT however if you owe him money.  LOTS of money.  Of if you have a life time contract, like they have with some dealers. 

Things got difficult.  Too difficult, I'm afraid.

Agreed. And the unions will gladly let the whole thing (companies) sink rather than sacrifice themselves; or even negotiate. State agencies have similar problems, they just aren't as prevalent.. yet.

[oztiks]

Sorry, had to laugh. We had a tech here that would label Boeing parts that way.... 

Nice

[timecurve]

Agreed. And the unions will gladly let the whole thing (companies) sink rather than sacrifice themselves; or even negotiate.[/b].

But if GM will start shutting down factories and laying off workers, the unions are hurting as well are they not?

[Liquid Platinum M35]

i think they're thinking more in war terms man.  They're okay with losing a few battles in hopes that they can still win the war.

[oztiks]

DETROIT — The U.S. Treasury Department is directing Chrysler to prepare to file for Chapter 11 reorganization as early as next week, according to widespread media reports. But Chrysler issued a statement late Thursday that said, "We believe it's important to keep all options open."

"Chrysler will continue to work through the end of the month, based on the direction given by the Presidential Auto Task Force, to secure the support of the necessary stakeholders and reach a successful conclusion that the Administration and U.S. Treasury deem appropriate," said Chrysler in a statement.

Word of the Chapter 11 bankruptcy filing was first revealed in The New York Times, which quoted unnamed sources "with direct knowledge of the talks." Italian automaker Fiat reportedly could complete its alliance with Chrysler while the company is under bankruptcy protection.

Chrysler faces an April 30 deadline to draft a viable business plan supported by its creditors, the UAW and Fiat, the Italian automaker that is seeking a stake in Chrysler.

Inside Line says: Talk of an imminent bankruptcy filing for Chrysler ramps up, a risky subject that is bound to keep consumers out of Chrysler showrooms — at least in the coming days. — Anita Lienert, Correspondent

http://www.edmunds.com/insideline/do/News/articleId=146750

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