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GM Channel Stuffing Soars To Record

Tyler Durden's picture





 

For a few months there, we were worried that GM may have actually found a (government-funded) natural subprime buyer of its vehicles after the company managed to keep its channel stuffing in check for several months. Those fears ended today with the company's October car sales report, according to which GM sold 4.7% more cars, or 42,759 in absolute terms (from 153,005 to 195,764) in October than September, below expectations of a 7.8% increase. So far so good. What however will hardly get any mention from Government Motors cheerleaders is that GM auto inventory at dealers as of October 31 was a record 739,034 (a massive 98 days of supply), an increase of 49,700 from October's 689,334. In other words, the entire incremental rise in sales, and then some, was due to the firm stuffing dealers with even more inventory than they can possibly handle!

Spot the record number out:

And while the inventory certainly plugs into the beancounter definition of GDP, it merely adds to what will eventually be inventory for dumping at the dealer lever. The one hope, of course, is that following Hurricane Sandy there will be a flood of buyers who seek to replace their destroyed cars with brand new ones. Now if only the Fed's Magic Money Tree also grew in every back yard and consumers actually had the money to buy up all these cars flooding dealer lots...

 


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Thu, 11/01/2012 - 10:44 | Link to Comment Jason T
Jason T's picture

OT: Man, Cube is keeping it real!

http://www.youtube.com/watch?v=DNlGfPWTySc

pinching his pennies so hard, buger came out of lincoln.

Thu, 11/01/2012 - 11:02 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Word up amigo.

Thu, 11/01/2012 - 11:58 | Link to Comment Mr Pink
Mr Pink's picture

That seals it! Im writing in Ice Cube! Seriously. Great video

Thu, 11/01/2012 - 10:40 | Link to Comment semperfi
semperfi's picture

If GM was smart they would have parked that entire dealer inventory on the Jersey shore last week for a little "channel flushing"

Thu, 11/01/2012 - 10:43 | Link to Comment Quinvarius
Quinvarius's picture

Yeah.  Dump thoses losses off on Uncle Warren's insurance companies so we can get this QE4 bailout going. 

Thu, 11/01/2012 - 12:29 | Link to Comment GeezerGeek
GeezerGeek's picture

Shoulda bought marshmallows.

Thu, 11/01/2012 - 13:05 | Link to Comment SafelyGraze
SafelyGraze's picture

that was funny

Thu, 11/01/2012 - 10:46 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Actually I think they did lose some autos in the "flood". While trolling through some Hurricane Sandy images yesterday I came across one with a caption that indicated that some new cars had been flooded.

They were Chevy's.

Thu, 11/01/2012 - 10:52 | Link to Comment Quinvarius
Quinvarius's picture

When you think about the actions the Fed took after 9/11, or after one bank failed, it is not hard to imagine the amount of free money give aways that might be taking place now.  I thought we would get a lump sum QE4 within 6 months.  This is the perfect excuse to do it, do it in secret, and do it big for your buddies.

Thu, 11/01/2012 - 11:04 | Link to Comment redpill
redpill's picture

Chevy Default Swaps?  General Motors Backed Securities?

Thu, 11/01/2012 - 11:06 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

That's just a liitle water so.....no default declared.

Thu, 11/01/2012 - 11:19 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The water only reached to the top of the dashboard. Just run a hair dryer over the speedo for a few minutes, sprinkle some baking soda on the carpets to get that sewage smell out, and you'll be fine.

Promise.

Thu, 11/01/2012 - 12:03 | Link to Comment Almost Solvent
Almost Solvent's picture

About 6 years ago I test drove a used Pilot that had an interesting interior smell under the massive amount of "new car" scent that had obviously been poured all over the inside.

Mentioned it to the salesman and made him a lowball offer. He quickly pulled out the "CarFax" and pointed to it that there was no water damage indicated on the "CarFax". I let him know that if it wasn't a flood salvage, it wouldn't be on the "CarFax" anyway - But that doesn't mean the prior owner didn't somehow get it full of water one way or another.

Salesman basically said some other person would buy it as is at that price based on the "CarFax" and wouldn't lower the price. I walked away to let some other fool put their trust in "CarFax"

(BTW - this was at a Honda lot, this Pilot was not "certified" though)

Thu, 11/01/2012 - 12:12 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Contrary to popular belief in the car business the best thing to do with lemons is to sell them to someone else.

Thu, 11/01/2012 - 13:10 | Link to Comment SafelyGraze
SafelyGraze's picture

"About 6 years ago I test drove a used Pilot that had an interesting interior smell under the massive amount of "new car" scent that had obviously been poured all over the inside."

I noticed the very same thing flying Delta to Miami.

Thu, 11/01/2012 - 11:58 | Link to Comment LongSoupLine
LongSoupLine's picture

it should be called union vote stuffing.

Thu, 11/01/2012 - 11:17 | Link to Comment LMAOLORI
Thu, 11/01/2012 - 11:41 | Link to Comment zuuma
zuuma's picture

This channel stuffing crap is EXACTLY why gubmint shouldn't be in the car business.

All the "reported" numbers of GM recovery are fake.

Sure. They're buliding lotsa cars & paying fat union paychecks -but at a loss. GM's huge marketing problem - which they acknowledge - is the government's (and, by extension, Obama) ownership. Many people in what was once their market segment absolutely refuse to even consider a GM product at new car time. Why? Because they do shit like this to their dealers and because Obama gets a cut from every car sold. The obvious cut is the masses of money that the Autoworkers Union gives him.

Where do you suppose THAT comes from?

Then, just imagine all the filthy, dirty, secret ways that the company is siphoning money off the books for Obama in little payments here & there. Don't wanna help out, Mr. junior accountant? You're FIRED. Or, "if you turn us in, YOU'LL be spending some time as Bubba's prison bitch, too." Not much of a stretch to imagine that scenario, is it?

I wouldn't be surprised if there's an office building in Detroit filled by FSA/ EBT troops. Their job(non-union, $8/hour, of course) is to spend 8 hours a day sending thousands of $180 donations from railroad cars full of prepaid Visa/MCs under fake names to Obama's websites. No verification or checking, naturally.

The money for the pile of debit cards coming out of some sketchy, smokey GM "Diversity Promotions" account. Then... "Aw dang! GM had a multi-billion loss last quarter. Darn. Costs just got too high". Right.

Well played UAW. Well played. I don't blame them a bit. They're doing what comes natural.

I've bought lots of GM cars in the past. I like(ed) 'em. There are several products that they offer today which interest me. Until the government and, ideally, the union get's out of GM, The best way not to play is not to buy their cars.

Thu, 11/01/2012 - 11:51 | Link to Comment Mr Pink
Mr Pink's picture

http://www.youtube.com/watch?v=wjkdynBFHuQ

Has anyone ever wondered if this is how ol' Hopey Changey was elected?

Thu, 11/01/2012 - 11:15 | Link to Comment insanelysane
insanelysane's picture

Or put the dealer inventory on Russian freighters.

Thu, 11/01/2012 - 12:04 | Link to Comment Antifaschistische
Antifaschistische's picture

BINGO....Semperfi....now, watch out on the used car market for all the swamped cars hitting the lots.

Time for another cash for swamper program.

Thu, 11/01/2012 - 12:07 | Link to Comment epwpixieq-1
epwpixieq-1's picture

and add a cool advertising, something going like: "Even with Sandy, you can eat your candy, only in the GM's most grandy*"

*Oversized coke can be dangerous for your health ( and your wealth too ). As oversized car IS dangerous for you wallet and security (if there is such a concept) of the nation .

Thu, 11/01/2012 - 15:06 | Link to Comment ilovefreedom
ilovefreedom's picture

HEADLINE: GM to the rescue; sends tens of thousands of cars to hurricane victims!

STORY: GM put thousands of cars on planes and ships headed for the east coast for some much needed relief for hurricane victims left without transportation. Who could have known that those same ships and planes woudn't survive the trip and were lost at sea and the planes crashed. GM stock is up 5% in afterhours trading on news of both their philantrophy and modest sales numbers increase.

Footnote: aAcouple of GM dealers who went bankrupt via overstuffed inventories although GM contradicts these statements saying, "Osama Bin Laden is dead, GM is alive!"

Thu, 11/01/2012 - 10:42 | Link to Comment yogibear
yogibear's picture

It doesn't matter. Obama motors has another 4 years to be bailed out. The government can buy all the backlog. If it gets worse Bernanke says he can buy everything with his magic Keynesian  money.

Thu, 11/01/2012 - 11:17 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

The Feds Magic Money Tree does grow in the backyard of every underpriviliged GM buyer; it's otherwise known as the sub-prime auto loan.

Who needs cash?

Housing bubble redux.....

Thu, 11/01/2012 - 10:42 | Link to Comment RopeADope
RopeADope's picture

It is easier to sell inventory to insurance carriers than to actual customers.

Thu, 11/01/2012 - 10:43 | Link to Comment JailBank
JailBank's picture

Ah working for the government. GM will keep cranking out cars to show numbers to beaurocrats that don't really know or care what is going on. They can show final production numbers in a sweet powerpoint to the boss, and that is all that counts. Success for the government is not about profit margins but if you are showing that numbers are up.

Thu, 11/01/2012 - 10:51 | Link to Comment youngman
youngman's picture

The Russians were great at that with their central planning.....the factory numbers always beat

Thu, 11/01/2012 - 10:43 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Stick a fork in Romney.

Thu, 11/01/2012 - 10:55 | Link to Comment JPM Hater001
JPM Hater001's picture

What if all I have is a bayonet?

Thu, 11/01/2012 - 11:54 | Link to Comment Cpl Hicks
Cpl Hicks's picture

Then ram it up Barry's poop chute.

Thu, 11/01/2012 - 10:43 | Link to Comment Spastica Rex
Spastica Rex's picture

If I only had a Volt.

Nah.

Thu, 11/01/2012 - 11:03 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

At least the fire would keep us warm.

Thu, 11/01/2012 - 10:44 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Yeah.....but Christmas is coming. So rush on out and buy (er...finance) your favorite Chevy product and put a big fat red bow on top.

Buy banana America.

/sarc

Thu, 11/01/2012 - 10:56 | Link to Comment LMAOLORI
Thu, 11/01/2012 - 12:35 | Link to Comment GeezerGeek
GeezerGeek's picture

But didn't Romney say they were moving to China?

Thu, 11/01/2012 - 10:45 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

THank God Obama bailed out GM so it could build the cars Americans want!

Got Church's Chicken?

Got 64 oz Dr. Pepper?

Got Zoloft RX from CVS?

Got GM Suburban?

ADVERTISEMENT

__________________________________

There has never been a better time
to buy or lease a new GM!

Hurry now to your nearest GM dealer
before inventories increase even more!

 

2013 GM Yukon Denali AWD
403 HP
13 CTY / 18 HWY

Nicely equipped for only
$67,185

 

Easy credit available through Ally Bank!

On*Star tracking and cabin recording included free for 6 months,
then you pay to be tracked and recorded.

 

Thu, 11/01/2012 - 10:46 | Link to Comment Spastica Rex
Spastica Rex's picture

What a small car. Or giant man. Can't tell.

Thu, 11/01/2012 - 10:56 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Neither is the case.  Both are about average size around these parts, as is the corn syrup drink.

Thu, 11/01/2012 - 10:50 | Link to Comment Abitdodgie
Abitdodgie's picture

Hedgeless , do you have a good recipe for duck. ( a coon riped the head of one of my duck's so , time for duck soup) thanks.

Thu, 11/01/2012 - 10:58 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

I love to stir-fry duck in a wok with those little red chinese peppers (or habaneros) and molasses.  Top with some fresh chopped scallions and serve with steamed rice.

Thu, 11/01/2012 - 10:58 | Link to Comment Orly
Orly's picture

Bourdain has a different way to cook duck rather than heat the heck out of it.  You may try this:

http://www.fieldandstream.com/blogs/wild-chef/2011/04/video-anthony-bour...

:D

Thu, 11/01/2012 - 11:27 | Link to Comment irie1029
irie1029's picture

smoke it with cherry wood.  dry marinade with salt and brown sugar litttle garlic powder hmmm

Thu, 11/01/2012 - 10:56 | Link to Comment JPM Hater001
JPM Hater001's picture

I remember when 67k bought a new house

Thu, 11/01/2012 - 11:00 | Link to Comment adr
adr's picture

You can still go to Detroit and buy a house for the same price as a nice dinner in NYC.

Thu, 11/01/2012 - 11:57 | Link to Comment semperfi
semperfi's picture

My parents bought their 1200 sq ft house in Bellflower Calif (12 miles from beach in metro LA) in '54 for 11k.  In '07 it peaked at 505K at which point I sold it.

Thu, 11/01/2012 - 14:18 | Link to Comment Dan Conway
Dan Conway's picture

That was a very move and excellent timing as well as a nice 7.5% annualized return over those 53 years!  In the best real estate market period that this country will ever see and to think most public pension plans assume an 8% return on their investments.  Hopefully you left the "golden" state. 

Thu, 11/01/2012 - 11:03 | Link to Comment azzhatter
azzhatter's picture

I was on the fence until I saw that free Onstar tracking device for 6 months. I think I'll pick me one up today. I have a call in to Bernanke to print me up $67,000

Thu, 11/01/2012 - 11:07 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Nicely equipped for only $67,185

 

What can I get for $1.53 and a barely used whistle?

Thu, 11/01/2012 - 11:12 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Actually, you can get quite a bit of stuff...

http://www.benefits.gov/benefits/benefit-finder/#benefits&qc=cat_1

Thu, 11/01/2012 - 11:12 | Link to Comment Pairadimes
Pairadimes's picture

That's the smallest Suburban I've ever seen.

Thu, 11/01/2012 - 11:13 | Link to Comment insanelysane
insanelysane's picture

He used to ride a bike but kept getting the seat stuck up his arse.

Thu, 11/01/2012 - 15:34 | Link to Comment Lendo
Lendo's picture

This post is incredible.  I'm copying this verbatim and posting it outside my office.

This will surely fuel the rage of mindless co-workers talking about reality TV, driving SUVs to work, smoking, eating out every day for lunch, and always purchasing the newest iDevice their maxed out hands can get on.  Yes, this will piss them off and I will chuckle at their complete lack of foresight and planning when gas goes back up to $5.00 a gallon.

Oh, they also make their kids take out 100% student loans for their college because these derelicts don’t have any savings and would rather appear wealthy than actually being wealthy.  America, fuck yeah!!

Thu, 11/01/2012 - 10:45 | Link to Comment Dr. Engali
Dr. Engali's picture

Now that Bloomberg has decreed that there has to be at least three people in a car there is no need for replacing any cars lost to the flood. Oh yeah there will be check points to make sure nobody in smuggling in any drink larger than 16 oz.

Thu, 11/01/2012 - 10:56 | Link to Comment Dr. Engali
Dr. Engali's picture

I used to love cruising to this song in my 70 Cutlass with a rocket 350...that bitch could scream.

Thu, 11/01/2012 - 11:04 | Link to Comment Osmium
Osmium's picture

72 Chevelle SS 454.  Rear tires did not last long.  :)  I owned 2 of them at one time.  I could drive one and repair the other one.

Thu, 11/01/2012 - 11:06 | Link to Comment Dr. Engali
Dr. Engali's picture

That's a nice car. I always wanted that model.

Thu, 11/01/2012 - 11:15 | Link to Comment Spastica Rex
Spastica Rex's picture

I had a '67 Cutlass. Favorite car ever. Or maybe my '88 Merkur.

Thu, 11/01/2012 - 11:27 | Link to Comment azzhatter
azzhatter's picture

I had a 64 Pontiac GTO with the 389 Tri power. Wish I still had it, it's inflated faster than Bernanke bucks

Thu, 11/01/2012 - 11:58 | Link to Comment cbxer55
cbxer55's picture

70 Pontiac Firebird Formula 400, 400 with four barrel and Muncie M-22 Rock Crusher four-speed transmission. Rear tires were mince meat.

Still into performance vehicles, have a 2004 Ford Lightning. 5.4 liter V-8 with Eaton M-112 roots blower, large list of performance mods. Over 400 hp in a pickup, back tires do not last long if you drive it like it was meant to be driven. And that blower sings a nice song with a custom made cog belt drive.  ;-)

http://s849.beta.photobucket.com/user/cbxer55/media/Lightning/01010002-1...

I bought it used in Dec. 09 with 34,000 miles, it'll be paid off early sometime mid next year. So no new Government Motors vehicle for this cat.

Thu, 11/01/2012 - 10:45 | Link to Comment Gene Parmesan
Gene Parmesan's picture

Curious timing for this surge.

Thu, 11/01/2012 - 10:49 | Link to Comment Zero Govt
Zero Govt's picture

lookin good, lookin good

another Bumma turnaround in the same stylee as Solyndra and A123 batteries

the Midas Touch of Govt

Thu, 11/01/2012 - 10:49 | Link to Comment irie1029
irie1029's picture

I recall in the 70's my econ professor dicussing this happening in russia by central planning govt.  I be damned if it didnt happen at a place i ended up working at just so upper managers could get big bonus bucks... saw the light and quit.... now I ll be damned if the f'govt isnt doing the same ol shit.

Thu, 11/01/2012 - 11:00 | Link to Comment Zero Govt
Zero Govt's picture

it's even more horrific than that.. not only Govt subsidy but Govt red tape throttling America (ditto Europe and Japan)

the cancerous scum of the US Govt, meddling marxists (progressives) no doubt backed by the US Parasite Club big boys are close to cornering 50% of US land

this interview I listened to last night is horrific, ranchers filling out hours of Govt paperwork every week, eco-loon fucking around and fucking up forestry, agricultural work wrecked with an estimated 40 million US workers displaced and jobless. It's disgusting what's happening, give it a listen

http://tinyurl.com/9ko33k6 

Thu, 11/01/2012 - 11:13 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

+1 Wait until obamacare goes into effect the rules and regulations for that disaster number in the thousands and 

Under the Obamacare mandate provision, you must disclose your personal health ID information to the IRS.

Thu, 11/01/2012 - 11:00 | Link to Comment Bastiat
Bastiat's picture

My favorite Russian central planning story from a prof: Ag output dropped so tractor plants were directed to increase production tonnage.  So they added weight--reinforced the frames or whatever.  Next season Ag output was down because so many tractors got stuck in the mud.

Thu, 11/01/2012 - 11:22 | Link to Comment irie1029
irie1029's picture

My job was with a tractor manufacturer.  LOL they learned from the Ruskies!!!

Thu, 11/01/2012 - 12:44 | Link to Comment GeezerGeek
GeezerGeek's picture

The professor was also probably a Liberal/Progressive. Most of them seem to be.

Thu, 11/01/2012 - 12:51 | Link to Comment pursueliberty
pursueliberty's picture

I had a 90hp new holland 2 wd, around a 02 or so model, that wasn't good for shit other than getting stuck.  I only had to call a tow truck once, but man I rutted up a lot of soil getting unstuck.  Now I have a M6040 kubota, which has never been stuck, but it is 4wd.  I'm not sure why they make 2wd tractors.  When shopping for a new tractor back in 08 I compared weights across the board.  A deere in the same class as my tractor weighed 2k# more, and was made in mexico.  I love my kubota, not one problem in 4 years, and I don't hold anything back when using it.

Thu, 11/01/2012 - 10:55 | Link to Comment wagthetails
wagthetails's picture

so if you want to buy a GM car, wait until they are on end of year firesale in December. 

Thu, 11/01/2012 - 10:56 | Link to Comment yogibear
yogibear's picture

The US has become the former Soviet Union  where those belonging to the public unions make more than the rest.  The public teacher strikes have many wearing red Marxist shirts these days.

 

Obama will win the second term and it's a green light for more socialist programs.

Thu, 11/01/2012 - 10:56 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

I don't know the stats on this, but just looking at the average vintage on the road is a pretty good indicator that no one is buying new cars these days.  Go back to most of the 1990s and the 2002-05 time frame and it seemed everyone had a new shiny in the driveway.

Thu, 11/01/2012 - 11:10 | Link to Comment Stuck on Zero
Stuck on Zero's picture

In my neck of the woods we have a large number of Federal employees.  They're all driving new Mercedes, Lexus and BMWs.

 

Thu, 11/01/2012 - 11:17 | Link to Comment yogibear
yogibear's picture

Where I live the local public employees all drive top-shelve cars. (Mercedes, BMWs, Lexus, infinti). Not the low-end but the more expensive ones. 

It must be the poor saps that are in the private sector.

 

Thu, 11/01/2012 - 11:29 | Link to Comment semperfi
semperfi's picture

Wealth Redistribution Opportunity - steal their Mercedes and leave your Mustang behind in exchange.

Thu, 11/01/2012 - 10:57 | Link to Comment adr
adr's picture

There are now two months left to sell 740k cars, and five months until the early 2014 models start coming. I'm seeing ads for 72 month 0% financing with $1500 cash to the buyer for 2012 GM cars.

I really liked the new Jetta GLI but there were none available. I could have my pick of 35 VW Beetle Turbos, though. It has the same engine and built on the same platform, but it is a Beetle. Dealer inventory in my area was a whopping 94 2012 Turbo Beetles. Volkswagen had 0% for 72 months on the Beetle, but it ended Oct 31st. They still have virtually every single one as of today.

Who knows what kind of sales will be needed to clear those cars out. The 2013s are supposed to be available but they can't put them out until the 2012s are gone. If VW is going to have that kind of trouble, I can't imagine the pain a GM dealer is going to go through.

I did see an ad from one of my local Chevy dealer. $8000 off a brand new 2010 Malibu with 15 to choose from. The dealer still has 15 cars left over from the 2010 model year!!

Thu, 11/01/2012 - 11:16 | Link to Comment catacl1sm
catacl1sm's picture

I just bought a 2012 Jetta TDI. I didn't get the 0% for 72 months though because its diesel. Appearantly, they are selling well, everything else, not so much. I only bought new because my old TDI finally crapped out (tranny). The interest rates on used vehicles are so much higher than new that it was no longer economically beneficial to buy used. Big wonder.

Thu, 11/01/2012 - 11:31 | Link to Comment edifice
edifice's picture

72-month financing--on a car--HaHaHa...

Thu, 11/01/2012 - 11:01 | Link to Comment khotel
khotel's picture

Property owners adjacent to these dealers should offer parking spaces for all the extra inventory.  GM channel stuffing...perfect with turkey and gravy.

Thu, 11/01/2012 - 14:29 | Link to Comment NotApplicable
NotApplicable's picture

Oh, but they are! Every single dealer around here has a "satellite lot" that they constantly shuffle cars back and forth with the main lot. Empty strip mall parking lots, closed down restaurants, and even the lot at a still open bowling alley are all filled to the brim.

It's likely the most money the bowling alley has made in years.

#winning!

Thu, 11/01/2012 - 11:13 | Link to Comment thomasincincy
thomasincincy's picture

these cars flooding dealer lots...

So how many dealers and inventory were flooded?

Thu, 11/01/2012 - 11:52 | Link to Comment SokPOTUS
SokPOTUS's picture

If the entire 739K in channel stuffed inventory was parked in Atlantic City; Paul Krugman will be dancing!

Thu, 11/01/2012 - 11:15 | Link to Comment orangegeek
orangegeek's picture

And the markets are up this morning on this bullish news.

 

Dow is up 150 already.

 

http://bullandbearmash.com/chart/dow-hourly-today-200-point-swing/

 

These wild irrational days will continue until next week - after the election it may be a different story.

Thu, 11/01/2012 - 11:19 | Link to Comment Rathmullan
Rathmullan's picture

The GM jobs act of 2009. Anecdotally, I'm looking for a vette and dealers are typically now lisiting them at anywhere from 10 to 15% off of window sticker. 

Thu, 11/01/2012 - 11:47 | Link to Comment SokPOTUS
SokPOTUS's picture

Over-Shipments at 116% of the delta in end sales is the new Killing It!

Thu, 11/01/2012 - 11:52 | Link to Comment wagthetails
wagthetails's picture

I think the article mis-stated results.  units weren't up 43k from sept, that is the difference between GM sales and retail sales, that 43k should be the amount of increase in dealer inventory (but doesnt' fully correspond to the inventory chart). 

But the released notes YTD unit sales of 2163k was 3.6% ahead of last year...78k more units.  and according to the chart, channel stuffing inventory has grown from 619k at 12/31/11 to 739k at 10/31/12.  that should mean YTD YOY unit sales are actually down 2.0%, if you remove the BS channel stuffing growth.

although the chart in the release also shows retial sales up 3.6%, but i assume the is ex-fleet sales. 

Thu, 11/01/2012 - 13:06 | Link to Comment Pike Bishop
Pike Bishop's picture

What is the problem?

Did you see all of those water covered cars here in the  NE?

Congratulations, you are about to fund the new and improved Soggy Clunkers Program.

In the last 30 days the ass has fallen out of used cars prices as Dealers need cash, and Fall New Car sales have been met by people who prefer to travel by iPhone.

This is not going to be some half-assed New Orleans deal. We're going to go First Class, with a purty GM, F, Chrysler for everybody. Just show your voter registration ID.

Throw a couple of blowfish into your car, put in the garden hose, close the windows, and turn on the faucet.

It's your duty as a Citizen to help clear Dealer Inventory.

Thu, 11/01/2012 - 13:06 | Link to Comment dlfield
dlfield's picture

You know what this means...bring on the ridiculous incentives!!

Thu, 11/01/2012 - 21:12 | Link to Comment nastaking
nastaking's picture

After Amazon's attempt to  C3 Android 4.0 phone on its home page, Apple has hit back, pointing out that Amazon's claims are incorrect and the iPad mini does have stereo speakers.

Fri, 11/02/2012 - 08:27 | Link to Comment mailll
mailll's picture

The one hope, of course, is that following Hurricane Sandy there will be a flood of buyers who seek to replace their destroyed cars with brand new ones.

Are you saying Obama Motors used Haarp to sell more cars?  Just kidding. 

It's more of a possibility that many layoffs will occur at GM after the elections.  Don't want any bad news before the election.  That would be another strike against Obama.

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