The bailout of GM and Chrysler was nothing compared to the giant TARP thrown to bankers and brokerages, or so the argument goes. A panel of constitutional experts, convened at a Stanford Law School conference about the constitution and bailouts, has a totally different opinion: Bank rescue o.k., car rescue not o.k. (Read More…)
Tag: Big 3
Even the Detroit News, by some regarded as an extension of the Big 3 PR departments, can’t help but ask: “Are Detroit’s new automakers falling back into old habits?”
New automakers? Old habits?
Well, it sure looks like the Big 3 have drastically ramped-up production. Production of good numbers, that is. Especially one of them has been very busy in that department: GM. The General currently has a 95 day supply of cars sitting on dealer lots, up from 76 days in August.
The industry average stands at 67 days, says a Citi Investment Research report. A two month supply is considered normal. What’s more, carmakers are supposed to switch from rich to lean at this time of the year: “With December production poised for a typical seasonal slowdown, inventory should end the year around the 60-day norm,” Citi analyst Itay Michaeli wrote in his report.
GM’s answer? (Read More…)