China, Where GM Sold More Cars In 2010 Than In The US, Sees January Car Sales Plunge 10.3%

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Tue, 02/15/2011 - 09:31 | 963063 Judge Judy Scheinlok
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Tue, 02/15/2011 - 09:31 | 963064 cossack55
cossack55's picture

GM and Apple team up to make the icar.  A 9' long tablet with wheels. Electric of course. 

Tue, 02/15/2011 - 10:13 | 963198 financeguru500
financeguru500's picture

Lol. If only GM could start making 49cc Scooters that sell for $500 a piece they could dominate the U.S. market. With the coming gas price surge they would make a fortune.

Mon, 07/11/2011 - 08:31 | 1443128 andrewjpeterson
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Nicely presented information in this post, I prefer to read this kind of stuff. The quality of content is fine and the conclusion is good. Thanks for the post.Used Cars For Sale

Tue, 02/15/2011 - 09:32 | 963065 HelluvaEngineer
HelluvaEngineer's picture

Obviously due to snow...

Tue, 02/15/2011 - 09:32 | 963066 Seasmoke
Seasmoke's picture

this cant be good for 2012 bonuses

Tue, 02/15/2011 - 10:34 | 963258 quasimodo
quasimodo's picture

I'm pretty sure I read a newsbit yesterday that the fuckers are all getting an average of $4000. Glad I could be a small part of that,SOB's

Tue, 02/15/2011 - 10:48 | 963324 hedgeless_horseman
hedgeless_horseman's picture
by hedgeless_horseman
on Mon, 02/14/2011 - 15:17


Learning from the bankers...

GM hourly workers get $4,000 bonuses

GM will pay most hourly workers more than $4,000 each as compensation for its strong financial performance last year, said a person briefed on the bonuses.




The person briefed on the payments did not know the total cost of the salaried bonuses, but it's likely to top $200 million. Most GM salaried workers make more than $100,000. A bonus of 8 percent, the midpoint of the range, would give them roughly $8,000.




"Since the taxpayers helped these companies out of bankruptcy, the taxpayers should be repaid before bonuses go out," Sen. Charles Grassley, R-Iowa, said in a statement. "It sends a message that those in charge take shareholders, in this case the taxpayers, for a sucker."


Just another reason why I will never buy a GM product.

Tue, 02/15/2011 - 10:57 | 963369 Rodent Freikorps
Rodent Freikorps's picture

Up until the bailout, I'd never bought anything but a Chevy.

Now, I will never buy another GM product as long as I live.

Tue, 02/15/2011 - 12:30 | 963708 thewhigs
thewhigs's picture


Tue, 02/15/2011 - 09:31 | 963067 papaswamp
papaswamp's picture

Wonder if we are seeing the first signs of the faux Chinese economy. It's gone as far as it can go. Car sales plummet...real estate is beginning to slow. What will they do with all those workers that build cities with no occupants? Something has to give....

Tue, 02/15/2011 - 09:34 | 963074 Nobody special
Nobody special's picture

Non-event ppl.  This is perfectly normal due to the Chinese New Year.

Tue, 02/15/2011 - 09:37 | 963081 eigenvalue
eigenvalue's picture

As far as I know, a lot of buyers of cars in China are young people in the cities. Most of them earn only $200-400 per month but they borrow heavily from banks or their parents to buy luxury cars, LV bags and large apartments just to show off. They can never repay the borrowed money. 

Tue, 02/15/2011 - 09:39 | 963092 Judge Judy Scheinlok
Judge Judy Scheinlok's picture


DEFAULT = DEATH(suiside).

Tue, 02/15/2011 - 09:48 | 963112 eigenvalue
eigenvalue's picture

No. In China there is a saying. "Those who have borrowed money are the masters" I have numerous examples that the Chinese default on their obligations. Some people even managed to borrow large sums of money from big Chinese banks like ICBC and then used the money to buy apartments or bonds in countries like Canada, Australia or the UK. And then they emigrate to these countries through the business immigration program. The banks can never have the money back.

Tue, 02/15/2011 - 09:39 | 963088 overmedicatedun...
overmedicatedundersexed's picture

GM will be moving it's headquarters to asia by 2013..less taxes and the USA will have been fully gutted by then..UAW big wigs disband union and get jobs with GM in asia.

I hear Halliburton is very happy in ME. does not get near the negative press of just a few years ago.

Tue, 02/15/2011 - 10:37 | 963270 MachoMan
MachoMan's picture

Might as well....  I'll be worried when walmart moves its headquarters there...

Tue, 02/15/2011 - 09:39 | 963089 Oh regional Indian
Oh regional Indian's picture

It is all a massively controlled market folks. All decided, Hu will be propped up, Hu will be taken down.

Price fixing, collusion, stuffing, lying.
Rampant int he incestuous Auto industry.

NUMBers mean little.

Tue, 02/15/2011 - 09:40 | 963093 topcallingtroll
topcallingtroll's picture

China is in the early stages of a crack up boom. I suspect whatever happens in china will be ten times worse than in the usa. Price signals are suppressed and distorted and basic information such as annual steel production is a state secret. The malinvestment that can occur in such a controlled economy is much worse than ours where information is more available. At least we dont have 19 huge ghost cities.

Tue, 02/15/2011 - 09:46 | 963104 cossack55
cossack55's picture

Just Detroit.

Tue, 02/15/2011 - 09:52 | 963125 Rodent Freikorps
Rodent Freikorps's picture

Not brand new ghost cities, anyway.


Tue, 02/15/2011 - 09:52 | 963124 youngman
youngman's picture

I bet the GM cars are better built in China...better workers = quality

Tue, 02/15/2011 - 09:56 | 963149 z tranche
z tranche's picture

Now, now, lay off Detroit.  Them people is living in Mad Max times.

Tue, 02/15/2011 - 09:56 | 963150 NOTW777
NOTW777's picture

time for another raise for GM workers - quick, election coming up

stuff the unions

Tue, 02/15/2011 - 09:57 | 963153 b_thunder
b_thunder's picture


i bet they will practice the same "channel stuffing" in PRC that they've been doing in USA

Tue, 02/15/2011 - 09:58 | 963158 LawsofPhysics
LawsofPhysics's picture

Better hold off on that profit sharing until the 40+ billion is paid back to the U.S. taxpayer.

Tue, 02/15/2011 - 10:01 | 963167 buzzsaw99
buzzsaw99's picture

Not enough to even dent the trade deficit.

Tue, 02/15/2011 - 10:03 | 963173 dick cheneys ghost
dick cheneys ghost's picture

defector says he lied to US about WMD in IRAQ.

Tue, 02/15/2011 - 10:07 | 963185 Clayton Bigsby
Clayton Bigsby's picture

It must have been the snow?

Tue, 02/15/2011 - 10:15 | 963203 Bagbalm
Bagbalm's picture

Hey, just withdraw the US franchise authorizations and write the inventory off as bad debt. All fixed. No warranties on clearance items.

Tue, 02/15/2011 - 10:22 | 963220 Robslob
Robslob's picture

I wondered why they were in such a hurry to pay my workers...ahem...the governments...ahem...I mean GM's workers bonus with my tax dollars...

Tue, 02/15/2011 - 10:52 | 963346 littledog94
littledog94's picture

As former UAW member I know amer. auto ind. was terminal 30yrs ago.Bankster elites are almost done raping ameriCON'd ppl. and are now setting themselves up to drain PRC. PRC ppl. think they are headed for mid. class prosperity just as ameriCON;d ppl. did throughout 20th cent. How'd that work out for us.

Tue, 02/15/2011 - 11:08 | 963410 lynnybee
lynnybee's picture

Is this the same GENERAL MOTORS who took $57,000,000,000 of MY TAX DOLLARS ?!   I'm still waiting for my free GM car !       Is this the same GENERAL MOTORS who took $57,000,000,000 of MY TAX DOLLARS & used it to build a new plant in BRAZIL & used MY TAX DOLLARS to make the transition from selling cars in the U.S. to selling cars in other countries at lower prices ?!       

Tue, 02/15/2011 - 11:18 | 963425 hedgeless_horseman
hedgeless_horseman's picture

The very same GM.  Unlike GMAC, which changed its name to Ally Bank, GM still has the same name. 

GM's chairsatan says GM paid us taxpayers back 100% with interest.

Like all chairsatans, HE LIES!!!!!!!!!!!!!

GM just refinanced under better terms, and paid back one loan with another, from the US taxpayers.

Tue, 02/15/2011 - 12:55 | 963808 ejhickey
ejhickey's picture

this story explains  why GM stock can't get above the $37-$38 range. 

Tue, 02/15/2011 - 18:09 | 965072 Buck Johnson
Buck Johnson's picture

This whole economic game is going to end badly and they know it.

Tue, 02/15/2011 - 20:54 | 965448 co2010
co2010's picture

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Sat, 03/05/2011 - 02:47 | 1021583 mediaprizm
mediaprizm's picture

China is a big market where we can grow our busines easily.

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