GM Well On Its Way To World's Largest Carmaker
November 9th, 2011 9:03 AM Share
GM’s net income in the 3rd quarter was $1.7 billion, down a bit from $2 billion in the same quarter of last year. What was up though was total global production. According to data published by GM, global production in the first 9 months rose to 6.95 million, up 7.8 percent from the same period in 2010 when 6.45 million were made. If GM maintains that pace in the 4th quarter, and there is no reason not to, GM should end the year with a global production well over 9 million.
This would establish GM solidly as the world’s largest automaker, well ahead of second-ranked Volkswagen. Those who predicted a totally different outcome will attend the annual crow-eating festivities.
Published November 9th, 2011 9:03 AM
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17 of 38 comments
I'm hoping for the best on this one. Either this is just an illusion because GM's legacy costs and debt have been wiped clean or this is real. The profit margin is a concern, because their transaction prices don't seem to instill as much confidence as a few other automakers have a much better ratio, so in order to sell their cars, they must do so at a lower price than a similar model from another OEM. ...wait and see.
Bertel, that one has to feel good. If that doesn't say you are one of the best in the biz, I don't know what does.
Don't care. GM is still run by the sleezy, ignorant morons as before (Lt. Dan Coke Can), so they'll likely lose it again anyway. They and VW can get into their own little contest to see who sucks more at #1.
when you count 50% interest as a 100% delivery it helps. when your competition suffers massive setbacks it helps. when you sell at distressed pricing levels it helps. and when you have a loyal base of hard working employees it helps, in spite of crummy management.