GM Channel Stuffing Soars To All Time High

Tyler Durden's picture


Did channel stuffing expert AOL quietly merge with a Government Motors without anyone's knowledge? Because making record amounts of cars only to have them amortize rapidly in showrooms must be some New Normal definition of a recovery.

Source: GM

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Thu, 03/01/2012 - 13:10 | 2213090 Max Fischer
Max Fischer's picture



Any conversations about the auto business in the US should be overwhelmingly bullish.  Even GM, arguably the worst of all the brands, is on pace for huge sales gains, despite the big increase in gas prices.  This year will most likely be the best since 2007 for every manufacturer. 

If you don't believe me, just Google the articles for yourself.

Max Fischer, Civis Mundi 

Thu, 03/01/2012 - 13:27 | 2213155 Conrad Murray
Conrad Murray's picture

GM giving sub-prime, unemployed people 0% 60-month loans for exploding cars that pinky-swear better gas mileage should not be construed as beneficial in any way.

I always suspected you had shit for brains. Recommending Google seals the deal.

Thu, 03/01/2012 - 13:29 | 2213164 mayhem_korner
mayhem_korner's picture



"sub-prime...people"  LOL

Good call-out, CM.  I was wondering how many junks Mr. Fischer was going to ring up before someone started to explain to him his shill ways.

Thu, 03/01/2012 - 13:59 | 2213307 fuu
fuu's picture

We've been explaining his shill ways to him across his many user names for a while now.

Thu, 03/01/2012 - 14:51 | 2213530 mayhem_korner
mayhem_korner's picture



I was only referring to the one post above.  He really tosses out some butes.  I was holding off, but it was tough (like the Seinfeld episode).

Carry on, Mr. pistol-toting-chimp, Sir.

Thu, 03/01/2012 - 13:38 | 2213177 Max Fischer
Max Fischer's picture



GM doesn't offer 0% to subprime customers.  The 0% is offered by ALLY, not AmeriCredit.  AmeriCredit loans generally start at 13%+.  Furthermore, no one that is unemployed can get a loan through AmeriCredit because they require proof of income on EVERY loan. 

When a customer takes out a 0% loan through ALLY, they are doing so in lieu of a rebate that is generally worth thousands.  That rebate is given to ALLY by the dealer to subsidize the 0% loan, so you really aren't saving SHIT.

Max Fischer, Civis Mundi

Thu, 03/01/2012 - 13:56 | 2213296 fuu
fuu's picture

"GM doesn't offer 0% to subprime customers.  The 0% is offered by ALLY,"

As you repeat ad nauseam in every GM thread over the last year in your many incarnations.

Thu, 03/01/2012 - 14:42 | 2213505 earnulf
earnulf's picture

And Ally is a subsidary of who?

Right, GM doesn't offer.....but their subsidary does!

Thu, 03/01/2012 - 14:56 | 2213542 Max Fischer
Max Fischer's picture



You missed the point.  Yes, ALLY is a subsidiary. EVERYONE knows this. But it DOES NOT do subprime loans, and THAT was the point.

It's truly hilarious to see so many red arrows after my posts, yet I'm the ONLY ONE in this thread giving you the truth.  I can post verifiable, provable sales figues and still get junked for it. 



Max Fischer, Civis Mundi

Thu, 03/01/2012 - 15:22 | 2213718 slewie the pi-rat
slewie the pi-rat's picture

L0L!!!  that's just the point, you moronic shithead!

define "sales"

Thu, 03/01/2012 - 16:31 | 2214171 HurricaneSeason
HurricaneSeason's picture

A sale is a delivery to the dealership.

Thu, 03/01/2012 - 17:20 | 2214580 Max Fischer
Max Fischer's picture



No it's not.

A sale, as reported by all manufacturers on the first of every month, is a delivery to a customer.

Max Fischer, Civis Mundi


Thu, 03/01/2012 - 17:43 | 2214684 slewie the pi-rat
slewie the pi-rat's picture

we're not talking abt "all manufaturers", we're simply talking about GM

so, if this is true for GM and we define "customer" as "dealer", perhaps you may begin to see the point by the end of 2013, and the FED's ZIRP, douchenozzle!

Thu, 03/01/2012 - 15:26 | 2213734 Conrad Murray
Conrad Murray's picture

Kill Yourself.

Ally Financial bets on risky subprime car loans -

Ally Offers More Subprime, Used Car Loans -

Thu, 03/01/2012 - 16:11 | 2213989 Rusty.Shackleford
Rusty.Shackleford's picture

well done

Thu, 03/01/2012 - 16:36 | 2214150 Max Fischer
Max Fischer's picture



ALLY is well known to be a prime lender, however, there's so much profit in subprime loans that they JUST started to put their toe in the subprime market.  Even the press releases you posted are from last summer when they were beginning to offer higher rates in select markets.  Prime loans have such low yields at 2% and 3% that many prime lenders are looking to subprime to increase profits.  So, yes, technically they have attempted to start a subprime program, but it is entirely INSIGNIFICANT to their book of loans and has only been active for 6 or 8 months.   

I should have been more specific to you redneck, doomer goons are are attempting to find any fault with anything I say, even if it means you MISS THE ENTIRE POINT.  GM and ALLY ARE NOT giving subprime, unemployed customers 0%.  0% is strictly through ALLy and it's strictly for prime customers, and ALLY is - with the rarest exceptions - a PRIME lender doing PRIME loans.  Lastly, the overwhelming majority of subprime loans are funneled to AmeriCredit which has very stringent lending parameters and is GM's primary subprime lender. 

So, in my post above, I should have said, "ALLY does NOT do subprime loans at 0% to subprime customers."  Because, OF COURSE, you GOONS would MISS THE ENTIRE POINT and catch me on a meaningless technicality.

And finally, GO FUCK YOURSELF.

Max Fischer, Civis Mundi

Thu, 03/01/2012 - 16:55 | 2214381 Conrad Murray
Conrad Murray's picture

UMADBRO? You have been exposed as the ignorant, insolent, shit-covered twat that you are. Create a(nother) new name and try again.

For anyone interested in a visual presentation of the preceding exchange, I offer this video -

Thu, 03/01/2012 - 17:43 | 2214683 Max Fischer
Max Fischer's picture



It's amazing how the readers at ZeroHedge are so vocal and proud of their quest to expose the truth, yet only if it fits into your doomer, cynical, bitter, mean-spirited, cult-like echo chamber full of redneck Luddites. 

Anyone who has a different message, anyone who posts FACTS which run counter to your cult-like beliefs are berated.  GET OUT OF OUR ECHO CHAMBER! 

I know you'd like to believe that GM is on the verge of failure again; I know you'd like to believe that all the middle class workers throughout the midwest on GM's payroll are going to get fired; I know you'd like to believe that all the retired union workers dependent on their pensions will get fucked over; I know you'd like to believe that Obama's rescue of the auto industry will be for nothing; I know you'd like to believe that all GM customers who buy their cars are subprime borrowers stealing loans at 0%; but the reality is that GM is actually increasing sales and increasing profits and doing better than anyone would have imagined.

Sorry to give you good news.  I know that's not welcomed around here.

Max Fischer, Civis Mundi  

Thu, 03/01/2012 - 17:50 | 2214704 slewie the pi-rat
slewie the pi-rat's picture

go away, max!

you're just trolling again and wasting everyone's time w/ yer "good news 4 doomers" passiveAggressive"Truth" trolling

write a story about how well GM is doing and ask tyler to publish it

see what he sez!  L0L!!!

and don't start quoting cramer


Thu, 03/01/2012 - 18:39 | 2214891 fuu
fuu's picture


Thu, 03/01/2012 - 15:46 | 2213853 tarsubil
tarsubil's picture

GM sales YTD -2.2%.

Fri, 03/02/2012 - 10:17 | 2216582 TradingSIZE
TradingSIZE's picture

The lack of the rebate is ACTUALLY the interest on the supposed "0%" loan...c'mon they are never "giving" you anything with those offers. The price of the car is really the List - Cash Rebate.

Thu, 03/01/2012 - 14:55 | 2213544 object_orient
object_orient's picture

A few 2012 models, and many 2011 models, qualify for 0% 72 month loans. Goes well with 40 year house mortgages.

Thu, 03/01/2012 - 13:30 | 2213168 Moneyswirth
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Any conversations about the auto business in the US should be overwhelmingly bullish. 

My friend, you have just outed yourself as a government propaganda troll, Obamaoist apologist, or leftist idiot.  Which is to say, an idiot just the same.

Please step to the back of the bus...

Thu, 03/01/2012 - 13:42 | 2213226 gookempucky
gookempucky's picture

Just another form of strong arm tactics---do as we say or we will take your dealership away.

Channel stuffing is part of the agreement.

Thu, 03/01/2012 - 13:52 | 2213275 fuu
fuu's picture

wtf ever RobotTrader.

Thu, 03/01/2012 - 14:42 | 2213504 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Fuu, at least RobotTrader has something good to say. This troll is a complete idiot! Right FauxFisher?

Thu, 03/01/2012 - 14:45 | 2213512 fuu
fuu's picture

They all sound the same to me.

Thu, 03/01/2012 - 19:06 | 2214976 FlyoverCountryS...
FlyoverCountrySchmuck's picture

Uhhh... Yeah....

Got an experiment for you.

Start a lemonade stand, and extend credit for purchases to anyone with a 450 Credit Score. You're gonna book lotsa sales, but get PAID for very few of them. You won't care about that much, though, since the TREASURY is going to bail you out, if Obama wins reelection.

OT/ Do you shiver when you bleat "OH! Baa-a-a-a-a Ma!"

Thu, 03/01/2012 - 13:12 | 2213102 Uchtdorf
Uchtdorf's picture

That might be a fair question if the channel stuffing was up a corresponding 1.1%. Try again.

Thu, 03/01/2012 - 13:26 | 2213152 Dr. Richard Head
Dr. Richard Head's picture

So with channel stuffing up some 7.69% doesn't factor in?

Thu, 03/01/2012 - 12:59 | 2213043 Momauguin Joe
Momauguin Joe's picture


Thu, 03/01/2012 - 12:55 | 2213024 stickyfingers
stickyfingers's picture

Looks like the bonus will be paid in lug nuts.

Thu, 03/01/2012 - 12:56 | 2213030 JPM Hater001
JPM Hater001's picture

Coming Back up on 13000...Get the Shot glass.

Thu, 03/01/2012 - 12:56 | 2213031 dime2962
dime2962's picture

but they said obama saved the american worker...

Thu, 03/01/2012 - 18:48 | 2214924 New_Meat
New_Meat's picture

"They" did say that.  'course, it depends on what the definition of "American Worker" is, n'est ce pas?

- Ned

Thu, 03/01/2012 - 12:58 | 2213032 Conman
Conman's picture

Get ready for the 0% financing plus incentive advertising campaign. Bullish for cable providers and tv networks.

Thu, 03/01/2012 - 12:59 | 2213044 surf0766
surf0766's picture

O down 0 percent , good credit , no credit,  no problem. Give me one that works. IE the trans wasn't built like crap !!

Thu, 03/01/2012 - 13:01 | 2213048 HyperLazy
HyperLazy's picture

I am not getting a new car until the financing rate goes negative. That's right, they pay me to take their festering over engineered pieces of crap.

Thu, 03/01/2012 - 13:57 | 2213298 gatorengineer
gatorengineer's picture

A real world 8 percent inflation you already have a signifciantly negative rate......  Take it for 5 years, and its 20% or so off in inflation adjusted dollars........

Thu, 03/01/2012 - 13:58 | 2213302 gatorengineer
gatorengineer's picture

A real world 8 percent inflation you already have a signifciantly negative rate......  Take it for 5 years, and its 20% or so off in inflation adjusted dollars........

Thu, 03/01/2012 - 13:23 | 2213137 Citxmech
Citxmech's picture

There's got to be an upper limit of how much inventory can be foisted onto dealers. Anyone have any idea where the ceiling on that chart is?

Thu, 03/01/2012 - 14:14 | 2213374 Sunshine n Lollipops
Sunshine n Lollipops's picture

I believe it's called parking lot square footage.

Thu, 03/01/2012 - 14:49 | 2213524 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

My limit guess will be when dealers go out of business en masse and the cars can no longer be dumped on rental agencies or shipped to 3rd world countries.

Thu, 03/01/2012 - 14:59 | 2213562 Kayman
Kayman's picture


Anyone have any idea where the ceiling on that chart is?

If GM is floor planning their dealers, then the ceiling is unlimited until November.

Thu, 03/01/2012 - 12:57 | 2213035 hedgeless_horseman
hedgeless_horseman's picture



Demand for new vehicles is just around the corner.

Thu, 03/01/2012 - 13:50 | 2213268 Roy T
Roy T's picture

Like houses!

Thu, 03/01/2012 - 14:11 | 2213363 Jena
Jena's picture

And Christmas!

Thu, 03/01/2012 - 12:59 | 2213040 sessinpo
sessinpo's picture

Why shouldn't government motors inflate sales figures and production like dollars? Definitely bullish sarc

Thu, 03/01/2012 - 12:59 | 2213041 EscapeKey
EscapeKey's picture

That's ok, the channel pays for them using taxpayer money.

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