DETROIT — With another huge quarterly loss now in its rearview mirror, General Motors Corp. faces the ominous task of raising revenue by selling cars rather than trucks.
But even with plans to boost production of its hot-selling fuel-efficient models and cut output of unpopular trucks and sport utility vehicles, the company is running short on time if it keeps burning through more than $1 billion in cash every month.
GM on Friday reported a $15.5 billion second-quarter loss, the third-worst quarterly performance in its nearly 100-year history. Through the first half of the year it used up more than $7 billion in cash, including $3.6 billion from April through June.
Company officials seem optimistic that a combination of expense cuts, increased car production and the introduction of new vehicles will slow the cash burn and eventually return GM to the black. But they're still prepared for an economic downturn that could last until 2010.
"Ultimately we're going to have to grow the business in a tough market," conceded Chief Financial Officer Ray Young.
The third quarter didn't start well for the company. On Friday it reported July sales fell 26 percent compared with the same month last year as high gas prices continued to cut into pickup truck and SUV sales. U.S. sales overall fell 13 percent for the month.
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
Yeah, I hear those commercials that say "GM has more cars with gas mileage above XXXmpg".. Yeah, thats because GM makes 100 different cars.
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
as opposed to Chrysler, who makes 100 cars of all ****ty quality?[}:)]
The ridiculous thing is both GM and Ford make wonderful cars overseas....but anytime they try to bring them over here the result is some overregulated turd.
Ford is #1 in Great Britain and Buick is the top selling brand in China....something is drastically wrong here.
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
as opposed to Chrysler, who makes 100 cars of all ****ty quality?[}:)]
The ridiculous thing is both GM and Ford make wonderful cars overseas....but anytime they try to bring them over here the result is some overregulated turd.
Ford is #1 in Great Britain and Buick is the top selling brand in China....something is drastically wrong here.
I enjoy that the Ford Mondeo (Europe's Taurus) is sold in the U.S. as a Jaguar.
Chevy seems to have a larger vehicle lineup thatn Ford + Chrysler combined. No car should be sold under more than 1 or 2 names. You should not have a chevy Malibu also be an oldsmobile and a cadillac and sell them at three different dealers.
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
as opposed to Chrysler, who makes 100 cars of all ****ty quality?[}:)]
The ridiculous thing is both GM and Ford make wonderful cars overseas....but anytime they try to bring them over here the result is some overregulated turd.
Ford is #1 in Great Britain and Buick is the top selling brand in China....something is drastically wrong here.
Don't know; I have a 2008 Dodge and sofar I'm pretty damn happy with it.
GM could drop Pontiac, Saturn and GMC not miss a beat.
The other lines would easily absorb the small distinctions these carry with them.
quote:
Originally posted by Hoss
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
as opposed to Chrysler, who makes 100 cars of all ****ty quality?[}:)]
The ridiculous thing is both GM and Ford make wonderful cars overseas....but anytime they try to bring them over here the result is some overregulated turd.
Ford is #1 in Great Britain and Buick is the top selling brand in China....something is drastically wrong here.
Don't know; I have a 2008 Dodge and sofar I'm pretty damn happy with it.
oh i'm sure. when they give you $30k off and subsidized gas....that lessens the crap factor.
quote:
Originally posted by HazMatCFO
GM could drop Pontiac, Saturn and GMC not miss a beat.
The other lines would easily absorb the small distinctions these carry with them.
considering Saturn is going to start carrying Opel models rebranded, not quite. Thats one of the better decisions GM has made lately.
GMC should go away though, they are nothing but rebranded Chevys.
quote:
Originally posted by inteller
quote:
Originally posted by Hoss
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
as opposed to Chrysler, who makes 100 cars of all ****ty quality?[}:)]
The ridiculous thing is both GM and Ford make wonderful cars overseas....but anytime they try to bring them over here the result is some overregulated turd.
Ford is #1 in Great Britain and Buick is the top selling brand in China....something is drastically wrong here.
Don't know; I have a 2008 Dodge and sofar I'm pretty damn happy with it.
oh i'm sure. when they give you $30k off and subsidized gas....that lessens the crap factor.
Stupid statement. I bought mine BEFORE that promotion. Ask me first. Sheesh.
Don't assume you know what and why I'm buying. I don't just Wal-Mart a vehicle decision. The lifetime powertrain warranty in which Chrysler is THE ONLY AMERICAN AUTO COMPANY offering it is one of the big factors.
quote:
Originally posted by YoungTulsan
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
Yeah, I hear those commercials that say "GM has more cars with gas mileage above XXXmpg".. Yeah, thats because GM makes 100 different cars.
yeah, I never could understand why GM does that. They have a Chevy pick-up truck and they have the same thing as a GMC pick-up truck, they did that for decades & decades- then they make Saturn Cars another GM branch off. They need focus and cut down.
I heard some people call into a radio talk show and they were saying the cars sold in Europe get far better gas mileage than the cars sold in the USA. I don't know if it's smog control requirements or what the reason is for that. I did not catch the whole show. I'd like to know if the cars auto makers sell over seas get better gas mileage than the cars they sell here.[xx(]
quote:
Originally posted by Hoss
quote:
Originally posted by inteller
quote:
Originally posted by Hoss
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
GM is incredibly bloated and I'm tired of their whining. Make 20 good cars not 100 cars of varying quality.
as opposed to Chrysler, who makes 100 cars of all ****ty quality?[}:)]
The ridiculous thing is both GM and Ford make wonderful cars overseas....but anytime they try to bring them over here the result is some overregulated turd.
Ford is #1 in Great Britain and Buick is the top selling brand in China....something is drastically wrong here.
Don't know; I have a 2008 Dodge and sofar I'm pretty damn happy with it.
oh i'm sure. when they give you $30k off and subsidized gas....that lessens the crap factor.
. The lifetime powertrain warranty in which Chrysler is THE ONLY AMERICAN AUTO COMPANY offering it is one of the big factors.
You didn't wal-mart your car buying? Chrysler IS the Wal-mart of car companies!
Ok, so you didn't get in on the gas gimmick...you actually got in on their first round of gimmicks with the lifetime warranty....which is probably just as well cause you are going to need it with a Dodge.
quote:
Originally posted by sauerkraut
I heard some people call into a radio talk show and they were saying the cars sold in Europe get far better gas mileage than the cars sold in the USA. I don't know if it's smog control requirements or what the reason is for that. I did not catch the whole show. I'd like to know if the cars auto makers sell over seas get better gas mileage than the cars they sell here.[xx(]
I expect it has something to do with the cost of driving. I know gas was the equivalent of $4/gal in Germany in 1995. Europeans have structured some of their fuel taxes to persuade behavior much as we have structured mortgage deductions to favor home ownership. Many European cars would be unacceptable (until maybe now) in terms of room and performance to American drivers.
quote:
Originally posted by sauerkraut
I heard some people call into a radio talk show and they were saying the cars sold in Europe get far better gas mileage than the cars sold in the USA. I don't know if it's smog control requirements or what the reason is for that. I did not catch the whole show. I'd like to know if the cars auto makers sell over seas get better gas mileage than the cars they sell here.[xx(]
They absolutely get better gas mileage. If anything its just because the cars and trucks there are microscopic. I remember being in London a while back and thinking, "Wow, people would absolutely freak if I drove my Murano down one of these streets. It would look HUGE!" The "minis" that we see here and think are so cute, are average cars there. You should see their small cars lol.