Quote Of The Day: The New Triumphalism Edition
We’re right on the verge of having 12 million in vehicle sales
UAW boss Ron Gettelfinger waxes optimistic in a recent speech at Wayne State University [via The Freep]. “Not so fast,” says Automotive News [sub]’s delightfully cranky senior editor, John K. Teahen Jr., in a piece appropriately titled 12 million sales this year? Don’t hold your breath.
Hit him with the fire, Teahen:
The seasonally adjusted annual rate for March was 11.7 million, up from 10.4 million a month earlier… To reach 12 million for the year, the monthly adjusted sales rate would have to average 1,050,468 for the next nine months. It’s possible, but it is certainly not a cinch. Sales have exceeded 1 million only three times in the past 15 months.
Word to Gettelfinger: Teahen broke this shocker ten days ago… you might want to pick up a [sub] yourself.
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Even at 12 mill what exactly would the excess capacity be in the system?
Just because sales recover doesn't mean that all manufacturers will share the bounty. Sales during 1962-65 were excellent in the U.S. market, but Studebaker closed its U.S. plant in December 1963, and AMC was in real trouble by the end of 1965. I can see GM reaping the benefits of a market rebound, but I doubt that Chrysler will.
This guy is such a weasel.