GM Tops World Car Sales Again: Bailout Worked! (stats, Miami, companies)

[EinsteinsGhost]

Damn... those were the good times, with 8.8 million jobs lost in two years, it would have been nicer to have lost another 2-3 million.
- Your typical conservative

[Pretzelogik]

Originally Posted by stillkit

GM's sales outpaced even the expert's predictions. It has re-passed Toyota to once again become the world's largest automaker in terms of sales.

Ford (which did not take a bailout) and Chrysler (which did) also beat expectations.



GM Leads U.S. Automakers to Secure Best Sales Year Since 2008 - Businessweek

So....what do the naysayer's have to say now? Was the Obama administration right or wrong?

GM leads worst performing auto stocks of 2011 Ummhuh worked like a charm.

[SourD]

Originally Posted by sailordave

They were probably sold to fleet sales or from one dealership to another.

That's exactly how the Volt got it's numbers inflated.

[Fox Terrier]

Originally Posted by Bulldawg82

So let me get this straight. You are saying that auto sales are up even though more people have lost the jobs (unemployment at a high since Great Depression) and lost their homes during that same span of time? Even those of us who didn't lose our jobs, didn't get a raise in our standard of living - YET, more cars were sold? I raise the BS flag on this one. Someone is spinning numbers to make this look better than what it is.

I believe the numbers referenced were for GLOBAL sales, not just the US.

There really are other countries out there, you know.

[Finn_Jarber]

Originally Posted by Bulldawg82

So let me get this straight. You are saying that auto sales are up even though more people have lost the jobs (unemployment at a high since Great Depression) and lost their homes during that same span of time? Even those of us who didn't lose our jobs, didn't get a raise in our standard of living - YET, more cars were sold? I raise the BS flag on this one. Someone is spinning numbers to make this look better than what it is.

LOL. If unemployment is 9%, then 91% are working and buying cars.

Also, a lot of the sales go overseas.

Does it make sense now?

PS Unemplyment was over 20% during great depression, so I don't know where you get your information.

[minibrings]

Originally Posted by NSHL10

Good news. Now when are we going to be paid back?

Don't people google before they post? GM has paid back its loans to the US, Canadian and Ontario governments.
GM pays off its Treasury Department loans - Apr. 21, 2010

Quote:
"I am very pleased to announce that, as of today, General Motors has repaid, in full and with interest, the loans made last July by the U.S. Treasury and Export Development Canada," said GM chief executive Ed Whitacre, speaking at a plant in Fairfax, Kan., where GM builds Chevrolet Malibu and Buick LaCrosse sedans.

[Sunnysee]

I will NEVER again own a GM auto of any kind.

You say the bailout worked? at what cost?

Who owns controlling interest of GM, right now? Been too busy to care to research it. anyone know and know without question?

[whogo]

GMC would still be in business without the bailout. It was the UAW that benefitted the most from GMC not having to take the typical bankruptcy route.

[HappyTexan]

Originally Posted by Sunnysee

I will NEVER again own a GM auto of any kind.

You say the bailout worked? at what cost?

Who owns controlling interest of GM, right now? Been too busy to care to research it. anyone know and know without question?

The USG does. We have millions of shares that, if sold, would get us a huge loss.

[Finn_Jarber]

Originally Posted by HappyTexan

The USG does. We have millions of shares that, if sold, would get us a huge loss.

They sold the first batch already at a better price, but they should wait with the rest until the share price improves.