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more irrelevancy.
I see for all your hand wringing over us free market types, you cant substantiate your claim that the plant closures are the result of tax cuts
Why are you so upset about how GM spent their tax break?
Trumps policies certainly indeed accelerated it. Margins on sedans are thin- the tarrifs with the resulting steel price hike pulled the pin on the grenade.
He saved some steel producers over steel using industries.
And that was resoundingly warned by many industries.
The same is occurring with Ag producers in certain sectors. Trumps trade policies will hasten their demise as well. Well, at least until the Ag bailout money train runs dry.
Great, really smart Trump can be thanked solely for that.
nope. They simply made things nobody wanted. Purely a bad business decision.
Of course the automotive industry is part of the everything bubble we are currently in thanks in large part to the interest rate manipulation of the fed reserve. No party lasts forever and there is going to be hangover when its over.
The business cycle is what it is. The idea that interest rate manipulation can stop recessions from happening is absurd. The auto industry has always been highly susceptible to the pendulum like swings of the economy and the states of the Midwest where it is entrenched are often miserable places to live because of it. The auto industry created Detroit, Flint and Toledo, all the troubles of those places are tied to this unstable industry. No interest rate manipulation or polititcians promises will ever change these communities fortunes. The booms never last long enough (this last one has lasted longer than most) to fix these towns. However each recession makes life harder than the last for the beat down residents of a community like Detroit.
nope. They simply made things nobody wanted. Purely a bad business decision.
Dont rule out the fact that the fedguv is pushing failed electric car tech at the expense of all else. There are many negative outcomes related to all the guv meddling in the automotive industry, just as there is with healthcare
The difference of course is that Toyota isn't in financial difficulties and their global market is alive and well.
GM is a poorly managed, UAW bled dry corporation. It really is a shame, GM makes a solid full size truck.
I think this country currently is poorly managed!
Quote:
If the U.S. Commerce Department adopts President Donald Trump's proposal of a 25 percent tax on imported new cars and car parts, the higher costs for carmakers to assemble and sell new cars could boost demand for used vehicles, analysts predict.
"The parts would be the most affected for sure, assuming that the administration will put tariffs in place for parts as well," said Augusto Amorim, senior manager for Americas vehicle sales forecasts at LMC Automotive in Troy. "I don’t think they’d consider any tariff on the used car at this point."
Automakers have warned their costs to build, and subsequently sell, new cars will rise. That's because every car assembled in the U.S. contains a large percentage of foreign parts, analysts said.
Toyota has said the costs of its cars could rise by thousands. General Motors last week said it would be forced to downsize and cut jobs.
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