Eh, what's another billion? We'll just raise taxes.
Tom
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So the news is that executives have all been cleared by the internal investigation into the faulty ignition switch.
A fall-guy engineer and selected other engineers and lawyers have been selected for dismissal and pin-the-tail-on-the-donkey.
Once again executives are shown to be not responsible for the errors or misdeeds of their organizations, except for getting bruised egos. It used to be, when kids had to walk to school, through snow, uphill both ways, that ship captains were held responsible for everything on their ships. If it was sliced in half by a carrier while the captain slept in his seabed behind the bridge, he was responsible, and paid. If it ran aground while he ate in the wardroom, he was responsible.
Now, unless the executive actually placed the finger on the trigger, he/she is not responsible. Not responsible for knowing what was going on. Not responsible for selecting and overseeing personnel. Not responsible for proper timely oversight of decisions taken on his/her behalf. Not responsible for egregious acts committed by multiple people that should have become known and aired. Not responsible for anything other than making profit, getting bonuses, getting status and stature. Nice.
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
GM announces major success last month. Overall sales up over 6%, and the most profitable- Trucks and SUV's up even more.
Sales figures here:GM Posts Its Best November U.S. Sales Since 2007
Best November ever for Chevrolet Spark, Cruze and Equinox
Best November for GMC since 2001
Best November for Buick since 2003
DETROIT – General Motors Co. (NYSE: GM) dealers in the United States delivered
225,818 vehicles last month for the company’s best November sales in seven years.
Total sales were up 6 percent compared to a year ago, retail sales were up 5 percent
and fleet deliveries were up 11 percent.
GM estimates that the seasonally adjusted annual selling rate (SAAR) for light
vehicles in November was 17.1 million, the highest November SAAR since 2003.
Calendar year to date, the SAAR is 16.5 million units, which is the upper end of the
16.0 million – 16.5 million range GM forecasted at the beginning of the year.
Demand in November was robust for everything from smaller cars and crossovers to
big trucks – all segments where GM is strong. The Buick brand had its best
November since 2003. GMC had its best November since 2001, and the GMC Sierra
had its best November sales ever.
At Chevrolet, the Spark, Cruze and Equinox also had their best November sales ever,
Silverado had its best November since 2006 and Traverse had its best November
since 2010.
“The buzz around Black Friday helped drive strong showroom traffic but there was a
lot more at work in the market,” said Kurt McNeil, U.S. vice president of Sales
Operations. “More people have jobs and job security, their wages are starting to
increase, household wealth is growing and low pump prices look like they’re here to
stay through 2015. All of this helped deliver an exceptional month and it will help
keep auto sales at very healthy levels going forward.”
Additional November Highlights (vs. 2013 except as noted)
Chevrolet:
The Cruze was up 26 percent, Spark was up 64 percent, Sonic was up
3 percent.
Silverado was up 24 percent, Tahoe was up 10 percent and Traverse was up
14 percent.
Dealers delivered 2,366 all-new Colorados, ahead of plan, with a low retail
days supply of 21 days.
2
GMC:
GMC was up 23 percent.
The Sierra was up 57 percent and the Yukon was up 14 percent.
The Terrain was up 13 percent and 854 all-new Canyons were delivered,
which is ahead of plan.
Buick:
Buick was up 27 percent.
Encore had a 72 percent sales increase, LaCrosse was up 71 percent and
Verano was up 22 percent.
Cadillac:
Cadillac Escalade deliveries were up 75 percent, with the retail days supply
very tight at 16 days.
Sales of the CTS sedan increased 18 percent.
Average Transaction Prices (ATPs):
GM has now posted 26 consecutive months of year-over-year average
transaction price (ATP) increases on the strength of new pickup trucks, SUVs
and Cadillacs.
ATPs were a record $35,600, according to J.D. Power PIN mid-month estimates,
up $790 per unit compared to October and up $3,100 versus a year ago.
Incentives:
Month over month, GM reduced incentive spending as a percentage of ATPs more
than the industry average, according to PIN mid-month estimates, and the
company has had the lowest incentives of all domestic automakers on an ATP
basis in nine of the last 11 months.
GM’s November incentive spending as a percentage of ATPs was 10.4 percent,
down 1.2 points month over month, while industry average spending was
9.6 percent of ATP, down 0.1 points.
In November 2013, GM’s incentive spending was 10.2 percent of ATP, and
the industry average was 9.7 percent.
Fleet and Commercial:
Fleet sales were up 11 percent.
Commercial sales were up 1 percent, marking the 13th consecutive month
of year-over-year growth.
Large SUV commercial fleet sales were up 87 percent and full-size pickup
commercial sales were up 47 percent.
3
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the
company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its
subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden,
Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including
OnStar, a global leader in vehicle safety, security and information services, can be found at
General Motors | Official Global Site | GM.com
General Motors | Investors - Sales | GM.com
Autos getting hit on chip shortage. Ford announced it plans only half the amount of production in Q2 thanks to chip shortage. Does that mean layoffs when the plants are idle?
GM looking bearish here. H&S forming.
GM334.png
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