GM Europe Prez: Where's OUR God Damn Bailout?

Robert Farago
by Robert Farago

Carl-Peter Forster, president of General Motors Europe, is mad as Hell and he’s not going to take it (free market capitalism) any more. Yes, the European auto industry needs help “from political leaders to turn the situation around. At the EU level, and within the political leadership of individual countries, action must be taken to stimulate the economy, relieve the credit crunch and restore consumer confidence. Only then will consumers have the means – and the confidence – to invest in a new automobile.” While Forster waits for [yet more] government intervention in EU economies, the GM suit trotted-out a very GM-like list of reasons why his company’s sales are in the crapper: surging oil and commodity prices, the risk of recession due to the ongoing credit crunch, unfavourable currency rates, new CO2 regulatios and increasing fuel prices. So what about, you know, the desirability of GM’s products? Nein! “In Germany, 10 to 15% of the cars are more than eight years old. We know there is pent-up demand for our Opel products. And we have local initiatives in place to spur cash sales. But our efforts are being stifled by a serious cash shortage.” Whose?

Robert Farago
Robert Farago

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4 of 12 comments
  • Charly Charly on Oct 02, 2008

    Models creep is normal so every new model of the same car is bigger etc. The reason why cars are getting heavier are crash tests and the state that wants the cars to survive them.

  • Buickman Buickman on Oct 02, 2008

    Robert, please refrain form violating a commandment. swear all you want, but remember... Buickman

  • 50merc 50merc on Oct 02, 2008

    "our efforts are being stifled by a serious cash shortage" Cash shortage? Good grief, Germany of all countries should know how to avoid cash shortages. The Weimar Republic figured out the secret back in the 20's.

  • Edward Niedermeyer Edward Niedermeyer on Oct 03, 2008

    Ghosn concurs over at Automotive News (sub). "I have no idea if Nissan will be able to benefit from it or by how much," Ghosn said at the Paris auto show. "But when you take a look at the financial situation in the market today, it is a good idea." Ghosn said the European Union could "get inspiration" from the U.S. plan "if they want to get serious about helping the industry."