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GM November Sales Of -2.2% Slip Below Expectations Of A 7% Increase On 151,427 Vehicles Sold
And another attempt to present a massive drop in consumer end demand for cars into something positive: “Consumer interest in our launch vehicles remains solid,” [we would hate to see what flacid interest looks like] said Susan
Docherty, GM vice president, U.S. Sales. “We’re working to strengthen
our Chevrolet, Buick, GMC and Cadillac brands by providing cars,
crossovers and trucks with the sales and service experience that our
customers deserve. We have more to do, but we’re committed to earning
consideration and future sales by delivering great products in every
segment.”
The company reported total U.S. deliveries of 151,427 vehicles in November, a decline of 2 percent compared with November 2008. Total sales for
Chevrolet, Buick, GMC and Cadillac were up 6 percent vs. the prior
year.
Some more greenshootery from the press release of the recently bailed out by the government bankrupt company:
U.S. Economy
- Credit spread has returned to normal levels. However,
consumer credit continues to contract – reflecting both weak credit
demand and cautious bank lending - Consumer confidence fell slightly in November, but remains much improved from the trough in February
- Manufacturing sector is increasing output due to depleted current inventories
- Job losses continue to slow, however employment levels continue to be a concern
- Housing starts, new and existing home sales, and home prices are beginning to stabilize
U. S. Auto Industry
- The U.S. November 2009 SAAR is estimated to be slightly
higher than October – approximately 11.0 million (total industry
estimate) - Industry inventory levels are anticipated to increase moderately through Q4 to support modestly rising industry sales
The GM PR wizards have learned well - this MD&A section reads like straight out of an Obama speech, accompanied by the same delusional justification of "facts."
Those lucky 371 people who bought Saabs in November must be wondering whether there will be any company left at all to servcie their brand new acquisitions.
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Worth every taxpayer penny.
It never stops ("adjustments")...
12-01 13:49: General Motors (GMGMQ) adjusted November US sales +6.3% vs. Exp. +5.8%
...
Amusingly Ford put Oct SAAR at between 10.4m-10.5m.
Hmmm, go with the higher forecast of a government entity (who in a WTF moment are now predicating 2010 housing starts- GM Forecasts US Housing Starts At 600K-650K By End '10 ) or the lower forecast of a private company not beholden to the likes of Tiny Tim &Co.
Saabing at those results....
Hey, but the Volt showed-up for the LA show this week and nobody walking by it even noticed that this was GM's "way forward" in the new American automobile market. The car is practically invisible -- like another white Camry.
GM still has this dual problem to solve: 1) make cars that people want to buy; and 2) do it profitably.
Meanwhile, Fiskar is setting up shop in GM's old hand-me-down building and building the Karma, which may be profitable at 14,000 units and is OH SO SEXAY!!!!!
It must really suck to have to get in front of a camera and lie to keep your job.
And we own this f**king turd. It will never be allowed to fail, so we'll own it forever.
I think Steve Ballmer said the same thing about the Zune.
+a gazillion
Strange, according to Bloomberg all of them beat expectations...
based on sales days. think of all the poor bastards who missed out on getting the car of their dreams on those two missed days.
It will be interesting to see how many are governmental purchases.
... however employment levels continue to be a concern.
Slight understatement here...
Being positive is one thing, but completely misrepresenting reality just makes them lose credibility.