Funny. GM stock was rallying on expectations on better deal with UAW. What better deal matters if the sales are down 24% ? GM reported last, waitied till the market closed. Stock is getting dumped in AH anyway.
DETROIT, July 3 (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research) on Tuesday said U.S. sales fell 24 percent in June, attributing the decline to a cutback in fleet sales to daily rental companies, a "soft industry" and lower incentive spending.
GM said it sold 326,300 vehicles in the United States last month. The results were adjusted for an extra selling day this year.
Look at the number of open calls for July. Looks like they are going to burn.
mth/mth esp from 1 yr to the next comparisons are nonsense do not know why the industry still does this
what is imp is mkt share YTD and sequential nos
thanks to business 2.0 (0.0 imo-g) and bw articles/letters and idiot folks (some write that simply putting multivalve engines can boost pickup truck fuel economy to 30 mpg..basically the public is the public when it comes to the stock market as well as vehicles..and perception is FAR bigger than reality)
the Tundra gets equal/worse fuel economy despite the multivalve tech vs the competition..of course, blinded as the public is they will stay that way
and perception feeds..domestic makers are full line makers..they sell a lot of trucks and utilities..so naturally they get perceived as being not fuel efficient
now if they only CUT back big on pickups etc (got out of the market) the perception might change (nevermind there would be no one making those vehicles for those who need it..forget about those buying SUVs (even Lexus GX470 included) and driving to the post office)
maybe the foreign makes could pick up the slack and then their fuel economy impression would be as the domestic ones today-g
another idiot even was comparing brake life..like it does not matter how you drive where you drive (stop/go vs freeway miles etc) and that even at that one can find variance in a single automaker
my Saturn has 199,700 and is going strong..3 problems that is it..prior to that a Pontiac (1989 built lasted all of 175K before i traded it in for the Saturn)
contrast my brother's Honda Odyssey all struts gone in 60k (no heavy loading nothing..-gg)..covered under warranty so what and a leakage in the Camry a/c system..or my wife's prior vehicle (Accord) that had all kinds of durability issues (even died once on the road)
ah..the ones who gave up on domestics (for good reason a long time back) have no where else to go having gone to the foreign makes..so now they are stuck with those makes and their pride
Edited by n83, 03 July 2007 - 07:38 PM.
