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GM "Stuffs Channels" At Fastest Pace In Its Post-Bankruptcy History; Volt Sales Plunge 32%

Tyler Durden's picture




 

Moments ago, General Motors reported its October domestic car deliveries number, which at 226,402, was 31K better, or 15.7% higher, than the 195,674 from a year earlier, better than the 7.9% increase expected. Unlike the ISM, GM was quick to point the counterfactual, namely that sales picked up because, you guessed it, confidence returned once the government reopened in the second half of the month. "Chevrolet, Cadillac and Buick-GMC all performed well in the month, and the sales tempo really picked up after the government shutdown ended,” said Kurt McNeil, vice president, U.S. sales operations. Apparently, like houses, Americans just can't buy cars if the government isn't around to hold their hand.

Joking aside, one thing that was not mentioned in the otherwise blemish-free GM sales report, is that the biggest reason for the surge in GM "deliveries" was because the car company once again resorted to that old faithful gimmick: dealer channel stuffing. At 728K units in dealer inventory at month end, or 87 days supply, this was the highest number since March 2013, but far more disturbing, the monthly rate of increase was the highest since GM's emergency as a "new" company from bankruptcy. And just to complete the picture, combining the past two month channel stuffing, we get 99,168 GM cars parked at dealer lots: the biggest two month jump in the restructured company's history.

The full sales breakdown:

Last but not least, it seems that the electric car dream may be alive for Tesla (if only until something cooler and more expensive appears), but is all but dead for GM after a 32% plunge in Chevy Volt deliveries. If only GM could somehow charge 50% more for the car and make it a little more spontaneously combustible, all would be well.

Source: GM

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Fri, 11/01/2013 - 10:49 | 4111743 Max Damage
Max Damage's picture

When do they go bust again? Any guesses anyone?

Fri, 11/01/2013 - 10:52 | 4111752 kliguy38
kliguy38's picture

wat the hell are you talking about......they ARE bust....they've been bust.......and they're just like the rest of the faux economy.......its all an illusion for the sheep and a hope that somehow creating an illusion of recovery will make you spend....problem is NO ONE HAS A FOCHIN JOB.........unless you work for the gov.............hehehhehhehehehehe and there are NO FOCHIN jobs coming..........so sit back and enjoy your bread and circus peeps......one day these bastards are going to flip a switch.......

Fri, 11/01/2013 - 10:58 | 4111776 Cult_of_Reason
Cult_of_Reason's picture

One needs to be either a boneheaded green lunatic or wealthy (having no idea what to do with Bernanke generated "wealth effect") to buy an electric vehicle.

Fri, 11/01/2013 - 11:10 | 4111812 Joe Davola
Joe Davola's picture

Funny thing is, I've seen a few of Volt's recently.  Curious how the range is affected once cold weather rolls around.  There's one charging station in the parking garage - roughly 50 cents / kWh, at least 7x my residential rate (until more existing generation plants are shuttered thanks to the EPA).  Never seen a vehicle using it.

Fri, 11/01/2013 - 11:33 | 4111897 Ray1968
Ray1968's picture

I'm a Chevy Volt owner. I'm actually surprised that the car isn't selling more. It is actually a very good car. I'm not a shill for GM or Obama. I was looking for a way to spend less on Chicago gasoline. It is pretty fun to drive. The biggest drawback is that I'm chilly when it is cold outside. The heaters are not that good.

Fri, 11/01/2013 - 11:46 | 4111919 Cult_of_Reason
Cult_of_Reason's picture

Re: "It is pretty fun to drive" ?!?!?

Driving an electric golf car (do not have much pick up power and tend to catch up speed very slowly) is fun?!?!?

Sigh...

It's a shame, you have never driven a Porsche. :(

Fri, 11/01/2013 - 12:05 | 4112029 DCFusor
DCFusor's picture

Well, bring the Porsche you own (do you actually own one?) down here and let's race it against my Volt on the twisties.  We'll see who comes out first at the end of the course.  Mine has a lower CG than yours (assuming you have one), instant throttle response, no turbo lag, and is always on the torque peak.  The pushbutton hack that adds both electric motors to the gas engine gives it plenty of HP/weight.  Let's have a go, your talk ain't cash.  I expect to enjoy watching you swap ends out of control in my rear-view mirror when you can't handle the hairpins as well as I can.  Please try not to go over the cliff, I'll be wanting my money for beating you.

Yes, it's fun, especially because idiots like you can't "get" the idea that just because it's electric it can't be quick - I really enjoy the look of surprise when I clobber guys like you - and the money I collect now and then doing it.

Ray, these guys have an agenda about electric cars - illiquid investments in the oil biz - that conflict of interest they warn about.  You're never going to get a shred of respect here, they are jealous we aren't buying their product and saving tons (mine is charged solar).  Note they had to mention the fire issue - because no Volt has caught fire in the wild, even the ones totalled by being struck by 100 mph other cars.  You know, the same number as some of the big banks have days of trading losses - zero.

And yes, the heater sucks when it's truly cold - I've hacked in a better one for mine - $30 and 10 minutes.  The heated leather seats are great, though, and I mostly use them.

You might not see many at charge stations.  Most of those charge more $ than the equal amount of gasoline that would go the same miles, and we Volt owners aren't stupid.  We charge them at home, in my case, off my solar system.

Let's see how fast your porsche, beemer, audi can go when you can't get gasoline or can't afford it.

 

 

Fri, 11/01/2013 - 12:18 | 4112067 Ray1968
Ray1968's picture

DCF- Do you know the differnce between a Porsche and a porcupine? On a porcupine, the prick is on the outside !!

Fri, 11/01/2013 - 17:16 | 4113425 Town Crier
Town Crier's picture

"Mr. Goodzombie".

Fri, 11/01/2013 - 12:21 | 4112086 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

BTW, for ICE cars you have to deal with a complicated dance in order to get a good launch, with a lot of Sturm und Drang.  In an EV, you just floor it, no drama, just a slight electric spool-up whine and a whoosh.  Coming off a stoplight my Volt is usually 5-6 car lengths ahead of others by the time I get my cruise control on at 70mph (Texas roads can be like that: 70mph but with traffic lights).  Most folks in ICE cars don't want to damage their engine/trans or make such a racket to launch, but for electric motors it's no big deal.

Fri, 11/01/2013 - 13:15 | 4112222 Urban Redneck
Urban Redneck's picture

Then why am I seeing 0-60 clockings of 9 seconds? And there aren't any acceleration specs on the manufacturers' website.

My first American car had a big block 455, yes, one could just "floor it" but actually driving, much less racing, is significantly more complicated than that.

My wife's god-awful Mercedes has one of those new-fangled not-quite-standard transmissions, and I find the absence of a clutch UN-NATURAL.

If you are going push a car anywhere near its limit, feedback (volume/pitch/rpm/vibration/etc.) is a GOOD thing.

Fri, 11/01/2013 - 13:19 | 4112335 patb
patb's picture

before you laugh,  check out what's happening in electric drag racing.

 

http://www.youtube.com/watch?v=zLjnRj2Dhwk

 

an electric motorcycle won Pikes Peak, and 4 of the top 16 finishers at Pikes peak were Electrics.

 

Given electrics have been coming in the top 10 line at Pikes peak for 3 years, it's not a fluke and it's maybe 2-3 more years

before electrics win all the slots at PPIHC

Fri, 11/01/2013 - 13:46 | 4112464 Urban Redneck
Urban Redneck's picture

The new BMW hybrid gets 94mpg and will do 0-60 in under 4.5sec and tops out about 160mph. But that doesn't mean 1) the average driver should attempt anything close to that or 2) that a stock passenger car is ever going to exhibit sports car performance (regardless of the engine)

Fri, 11/01/2013 - 14:08 | 4112557 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Stock Tesla Model S P85+ will do that at any elevation, and will clock low 13s on the quarter mile.  And it costs a bit less than the i8 PHEV, while being a lot more practical.

Fri, 11/01/2013 - 14:06 | 4112547 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

My first American car had a big block 455, yes, one could just "floor it" but actually driving, much less racing, is significantly more complicated than that.

In an ICE-powered vehicle it's indeed more complicated than that, because ICE engines, transmissions, etc. are more complicated than electric motors.  For an electric motor vehicle, it's just mash on the pedal and go. And, of course, I average about 2.5 cents per mile for 'fuel' in my Volt.  How much per mile does gas cost these days for a big block or other hi-po car?
Fri, 11/01/2013 - 14:28 | 4112630 Urban Redneck
Urban Redneck's picture

I think you missed my point, unless you are suggesting that an E*TARD account is going to outmaneuver an algo. You are trying to tout fuel efficiency and racing performance in a single car, that's not racing and in fact is up there with profit-to-earnings ratios.

Fri, 11/01/2013 - 12:27 | 4112111 FeralSerf
FeralSerf's picture

". . . saving tons (mine is charged solar)"

Tell us a little more about your "solar system". How big is it? How many hours of sunlight does it take to provide a hundred miles of Volt driving "enjoyment"?

How fast (and how far) can your Volt go when YOU "can't get gasoline or can't afford it"?

Saving tons of what? Surely not bullshit -- I think you're lying to us.

Fri, 11/01/2013 - 12:46 | 4112178 Malibu
Malibu's picture

You're delusional.  About the only thing you said which is correct (slightly) is the CG.  Without even getting into the Gas/Electric debate the fact that a car that is built for everyday driving will best the car that is built for the type of driving you mention is utter nonsense.  A normally aspirated Porsche or any sports car wouldn't even be a contest.  Since you mentioned tubro lag, which by the way modern Porsches do not possess, a turbo would make it all the more laughable. 

Don't let facts or sheer logic get in the way of your self love because you have a Volt.  You like it? I'm happy for you.  Some people don't.  That's fine too.  However to throw ridiculous statements like your first paragraph out is childish. 

Yes an electric car can be very quick, quicker than a petrol one at times but the gearing and amount of torque to make it such is a long way away from what you drive on a daily basis. 

-idiots like me.

Fri, 11/01/2013 - 13:00 | 4112227 RafterManFMJ
RafterManFMJ's picture

DCRusor is right; I love my Volt and since the tax slaves subsidized its purchase price, I get to feel like Jamie Dimon every time I drive it.

I use mine as a charcoal starter for the grill, and for defeating Chevy Chevettes in 'the twisties'; often I win enough to buy a burger at McDonalds.

My Volt is charged not by solar, but by rainbows and Unicorn farts.

You can lease one right now for 49 dollars a month and 200 down.

Fri, 11/01/2013 - 22:15 | 4114334 Notarocketscientist
Notarocketscientist's picture

Because they shift power more efficiently (no wasted compression) I understand electric vehicles DESTROY gasoline powered vehicles 0-60.

And yes BMW has an electric vehicle http://assets.inhabitat.com/wp-content/blogs.dir/1/files/2011/11/BMW-i8-...

 

Fri, 11/01/2013 - 12:07 | 4112034 DeadFred
DeadFred's picture

An electric car plus solar panels to charge it will make you 'The Man' when the apocalypse happens. You won't be working, just spending your days popping off the occasional zombie and it will serve as your night time/rainy day back up power. You get get to use it for short trips to the ammo store and it's there for bugging out (one way for about seventy miles) whenever you need it. You are the man for being far sighted.

Fri, 11/01/2013 - 13:03 | 4112259 RafterManFMJ
RafterManFMJ's picture

If the zombies start to gain on you, just detour into 'the twisties'; the zombies high center of gravity will cause them to careen into the guide rails.

Fri, 11/01/2013 - 12:16 | 4112065 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Indeed, the remaining 2013s just got extra $$ on the hood I believe, $7k back.  Leftover 2013s are a screaming deal if you live in spendy-gas country.  My Volt costs a blended 2.5 cents per mile to 'fuel'.  How much does your gas cost per mile?

I don't have the same issues with the heater, being in Texas, but if I did I'd probably put it in Hold mode to warm things up for a mile or two before going back to electric.

Fri, 11/01/2013 - 12:22 | 4112090 Cookie
Cookie's picture

My 4yo son loves your avatar :-)

Fri, 11/01/2013 - 15:28 | 4112946 dynomutt
dynomutt's picture

Seeing that avatar makes me think...

Have you wished your mother a "Happy Birthday" today?

Fri, 11/01/2013 - 14:51 | 4112746 syntaxterror
syntaxterror's picture

Gee Ray, that gas savings should pay for itself in about 20 years or so. And in 20 years, car styling from the 1980s will be all the rage, so your Volt will be cool again. Problem is, nothing GM makes lasts more than 10 years.

Fri, 11/01/2013 - 11:13 | 4111822 jcaz
jcaz's picture

Oh heck no- it's Tesla luring away Volt buyers, of course.....  (sarcasm cued)

Fri, 11/01/2013 - 11:34 | 4111906 Mesquite
Mesquite's picture

Somewhere heard sales of bicycles up...

Fri, 11/01/2013 - 12:07 | 4112038 DCFusor
DCFusor's picture

Actually, that IS happening.  Some Volt owners have a Tesla as a second car, or want one.  They just cost too much right now for most.

Fri, 11/01/2013 - 13:07 | 4112283 RafterManFMJ
RafterManFMJ's picture

I know I do. I'd love to see a Volt and Tesla dueling in "the twisties" over a ham sandwich.

Fri, 11/01/2013 - 11:13 | 4111784 Headbanger
Headbanger's picture

As I suspected, this explains the good ISM numbers out today.

And fuck the Volt already!  Who needs an electric car when they don't have a job to drive to anyway!?

Get ready for a huge drop in the markets very soon.

Fri, 11/01/2013 - 12:09 | 4112042 DCFusor
DCFusor's picture

Guys like me, retired, who still need stuff at the store, that's who.

Fri, 11/01/2013 - 13:09 | 4112290 RafterManFMJ
RafterManFMJ's picture

Especially if yon store lies beyond the forbidding "twisties." Without a Volt you'd likely starve.

Fri, 11/01/2013 - 10:56 | 4111764 JailBank
JailBank's picture

Never. Obama has plenty of borrowed money to give them.

Fri, 11/01/2013 - 10:55 | 4111765 JailBank
JailBank's picture

Never. Obama has plenty of borrowed money to give them.

Fri, 11/01/2013 - 11:01 | 4111782 yogibear
yogibear's picture

No debt limit currently. Obama could go on a spending spree and charge to the kids. Obama wants to take over the house from the GOP.

Fri, 11/01/2013 - 13:49 | 4112473 Ghostdog
Ghostdog's picture

3 years but Obama will bail them out again in his 3rd term

Fri, 11/01/2013 - 10:51 | 4111747 LawsofPhysics
LawsofPhysics's picture

Auto industry CEOs flying to D.C. in their private jets to demand taxpayer-funded bailout in 3...2...1...

 

Let me clear; roll the motherfucking guillotines.

Nothing changes otherwise.

Fri, 11/01/2013 - 10:54 | 4111758 Dr. Engali
Dr. Engali's picture

It's about time for DcFusor to trade in his Dolt to help boost the numbers.

Fri, 11/01/2013 - 12:10 | 4112050 DCFusor
DCFusor's picture

It's my favorite car, no way.  I don't even let them do the "factory upgrades" since it's perfect the way it was delivered.

Fri, 11/01/2013 - 13:11 | 4112297 RafterManFMJ
RafterManFMJ's picture

You're telling us a FACTORY MODEL car can navigate "the twisties!?" That really is awesome.

Fri, 11/01/2013 - 10:54 | 4111759 Handful of Dust
Handful of Dust's picture

"Heavy equipment maker Caterpillar (NYSE: CAT  ) may be one of the more visible victims of the global slowdown in mining, announcing yet another round of layoffs after it had to cut its outlook again for the year following a gloomy earnings report last week...."

 

"Second-seeded Japanese equipment manufacturer Komatsu followed its rival with a depressing earnings announcement of its own the other day, saying it had to reduce its profit forecast by 30% as demand has simply dried up. Even engine maker Cummins (NYSE: CMI  ) was forced to cut its guidance yesterday after reporting lower-than-expected quarterly profits and reducing its full-year outlook as weak sales in most of the industries it serves sapped its strength."

 

http://www.fool.com/investing/general/2013/10/31/caterpillar-cost-cuttin...

Fri, 11/01/2013 - 10:55 | 4111766 LawsofPhysics
LawsofPhysics's picture

bad news is good news, rally on!

Fri, 11/01/2013 - 10:55 | 4111761 Urban Redneck
Urban Redneck's picture

Perhaps the "investor"-in-chief can repeat how the US taxpayer didn't lose any money on GM... sort of like "if you like your current health insurance you can keep it" ... Profit-to-Earnings ratios seem downright trivial compared to the rest of his intellectual dysfunction.

Fri, 11/01/2013 - 10:55 | 4111762 Scoobywan
Scoobywan's picture

If they put something other than a 5 cylinder as the best engine option in a Canyon/Colorado they would sell more..

Idiots

Fri, 11/01/2013 - 11:11 | 4111813 Headbanger
Headbanger's picture

Bingo!  I'd like to see that as well but I think GM has fatter margins on its full size pickups and would rather use their production to keep Toyota and Nissan from any gains in that market segment.

Fri, 11/01/2013 - 10:58 | 4111770 TheFreeLance
TheFreeLance's picture

It is OK. In another non-event, High Commissioner Yellen will buy $25b. worth of subprime 144 month car notes each month. 

Fri, 11/01/2013 - 10:57 | 4111771 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

They will always be bailed out. Even with a change in government they will be bailed ult forever. Some people are more equal than others.

Fri, 11/01/2013 - 10:58 | 4111773 kralizec
kralizec's picture

To Hell with Obamamotors! 

Fri, 11/01/2013 - 11:01 | 4111781 USS Bernanke
USS Bernanke's picture

But the commercial said I better come quick while supplies last.

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