GM Sales Slide 45%
GM’s March sales ( PDF chart) slid 45 percent compared to last March. As usual, the official press release is crawling with standard-issue PR equivocation. 156,380 deliveries in March? Why in a total contextual vaccuum, that sounds downright mediocre! Compared with February’s pity party, “7 of 8 GM brands saw total sales increases with total volume up 23 percent.” And Mark “ Rough Chuckles” LaNeve hears a slow, government-backed turnaround coming. “We had a strong close at the end of the month as customers responded to strong incentives, President Obama’s positive statements about GM, and the government backing domestic warranties,” soliloquizes GM’s S&M masochist-in-chief.
But slicing and dicing only distracts from the truth for so long. And when the truth is this ugly, it rarely stays in the shadows anyway. By brand, Pontiac was the big winner last month, with sales falling “only” 30 percent. Buick was next-best with a 40 percent drop, and things just keep getting worse all the way to Hummer which fell 76 percent, selling fewer than 900 units. Light trucks (-45 percent) were worse off than cars (-40 percent), but only the profit-free G8 (2,938 units sold) stands out as a genuine sales success.
The domestics cannot make a compact or mid sedan and make a profit doing it, even the imports figured out that the money is in SUV's and trucks. so intoday enviorment the locals are toast and the advantage goes to the imports. Why is it that the companies that are around the longest end up in a comprimising position?
What's the phrase? Terminal decline? I want to know WHO was buying GM stock at $3.50+????????????????????????????????????????? as recently as last week. WTF?