GOOD LUCK UNLOADING ALL THAT …
“Government Motors” posted weaker-than-expected sales for February … disappointing results which were promptly blamed on (what else) the weather.
But behind GM’s poor sales data is a much more troubling number: 805,769.
That’s the number of GM vehicles currently sitting on dealer lots … up from 780,140 in January. In fact February marked the fifth consecutive month that GM has had more than 700,000 cars sitting on dealer lots.
According to Ward’s AutoInfoBank, all that “cold product” means GM currently has a 114-day supply of vehicles on its lots – which is nearly twice the recommended 60-day supply (and well above the industry-wide 89-day average for last month).
That’s not good …
Wanna see what all those surplus vehicles look like in chart form?
“Good luck liquidating all that pent up inventory without major incentives and margin crushing price reductions for everyone in the distribution chain,” the website Zero Hedge notes.
The most worrisome component of all this? If (when) GM takes another nosedive, its status as a “too big to fail” American icon means taxpayers will once again be on the hook for a bailout.
16 comments
I bought my last GM car in 07′, right before bailout.
I’ll never buy another GM product again. They should have put their big boy pants on and went through bankruptcy. Screw them. The little people don’t get bailouts, only TBTF banks and big union players that deliver votes get taxpayer money.
They can all kiss my ass. I hope GM goes down, they deserve it.
My experience with driving someone else’s Chevy Cobalt (can’t remember the year, but late 2000’s) was that the steering wheel/column rattled and felt like it was going to fall apart.
With 60,000 miles on it.
They might as well ship all of their jobs to China, because their cars already feel like Chinese quality.
Yet liberals point to GM as Obama’s only success…besides assassinating the severely ailing Osama Bin Laden, long after he had struck…
Actually, Tesla is the usual company liberals point to, primarily because it benefited from the same program the infamous Solyndra did. It paid off its $465 million loan off nine years early.
Don’t they catch on fire like the Volt, too…Not to mention: Rich liberals getting gov’t handouts to buy Tesla are likely what brings in any revenue, if it does…(See Below: Another Tesla Catches Fire)….
But like most Liberal Schemes, when you look under the hood (pun intended) there is usually some number fudging to account for the alleged pay off…
Another Tesla catches fire…
http://www.zacks.com/stock/news/123249/Another-Tesla-Car-Catches-Fire
Does Tesla make airplanes too?
Tesla burns it up w/ APPROVED (allegedly perfected) models, out on the road. Not in tests….where you anticipate imperfections…
You are a good example of how liberals cannot apply logic and common sense to reality. People like you are why the Obama Administration is A$$ Backward, and failed….
But look on the bright side…idiots are are easily fooled by Dumb@$$#$ like you….
That’s because GM makes shitty cars. They have been making shitty cars for quite some time.
Ford is the only one out of the Big Three that doesn’t completely suck ass. Even so, I’d rather just buy a Japanese or European car that’s made here in the US.
How are those Toyota and Nissan recalls going?
Consumer reports recently placed ford below GM as the shittier. Just saying.
I love my Buick Enclave…. have driven Buicks for Over 40 years. I think in 1989, I had to replace a water pump. Other than that, oil, gas and tires only! I’d say that’s pretty reliable!
I will never buy another GM product if for no other reason than the new Chevy ad campaign featuring the greedy, envious, entitled, babysitter scamming the nice lady who gave her the job. Not to mention the ones proudly announcing that today’s families look different, etc. GM can exploit it’s new target demographic, without me.
I hope they drop the price of the Silverado/Sierra with all this inventory. I’d snap one up in a minute at a discount price to replace my ’11. The new one is light years ahead of mine, and that one been a damn good truck.
Bought a “14 Silverado half ton bonus cab 4X4 in October. Sticker 41k, straight sale price 32,350 out the door.
Only have 2000 miles on it.
Amazing the power they are getting from a 5.3 engine. The wife has a “12 Tahoe, my truck is much quieter than hers.
Have a 01 2500HD just for towing.
When I bought the 14 I gave my 88 K5 Blazer to the grandson. It had only 225k on it. Only major expense in 26 years was a transmission at 204,000 miles.
I put a water pump, two alternators, and one starter in the whole time.
Keep them out of passing gear and change the oil on a regular basis and they will last.
Another point, the 88 was the first year GM went to galvanized sheetmetal, absolutely no rust on that truck in 26 years.
Good friend has a ’14 Sierra 4×4 Z71. Awesome truck, quiet, comfortable ride. VERY nice interior. I’d buy one tomorrow given the right price.