• Leo Kolivakis
    03/21/2010 - 09:53
    As the House gets ready to pass a "historic" bill on health care reform, let me introduce you to the real crisis in health care...
  • asiablues
    03/20/2010 - 19:47
    My take on views expressed by Jim Rogers at a BBN interview on Mar. 18 about the recent currency and trade confrontation between the US and China, the Canadian loonie and the U.S. bond market.

GM November Sales Of -2.2% Slip Below Expectations Of A 7% Increase On 151,427 Vehicles Sold

Tyler Durden's picture




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.

Full press release here

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by bugs_
on Tue, 12/01/2009 - 14:09
#148041

Worth every taxpayer penny.

by Gilgamesh
on Tue, 12/01/2009 - 14:12
#148046

It never stops ("adjustments")...

12-01 13:49: General Motors (GMGMQ) adjusted November US sales +6.3% vs. Exp. +5.8%

...

by lizzy36
on Tue, 12/01/2009 - 14:20
#148060

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. 

 

by economessed
on Tue, 12/01/2009 - 14:29
#148092

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!!!!!

by Anonymous
on Tue, 12/01/2009 - 14:33
#148100

It must really suck to have to get in front of a camera and lie to keep your job.

by chet
on Tue, 12/01/2009 - 14:37
#148106

And we own this f**king turd.  It will never be allowed to fail, so we'll own it forever.

by Daedal
on Tue, 12/01/2009 - 14:39
#148112

I think Steve Ballmer said the same thing about the Zune.

by Anonymous
on Tue, 12/01/2009 - 15:17
#148206

+a gazillion

by thegreatjoghurt
on Tue, 12/01/2009 - 14:43
#148125

Strange, according to Bloomberg all of them beat expectations...

by Anonymous
on Tue, 12/01/2009 - 15:32
#148231

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.

by Anonymous
on Tue, 12/01/2009 - 15:03
#148170

It will be interesting to see how many are governmental purchases.

by Failure to Comm...
on Tue, 12/01/2009 - 16:50
#148389

... however employment levels continue to be a concern.

 

Slight understatement here...

by Anonymous
on Tue, 12/01/2009 - 21:10
#148767

Being positive is one thing, but completely misrepresenting reality just makes them lose credibility.

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