GM Channel Stuffing Surges To All Time Record

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 12/01/2011 - 18:18 | 1936505 Manthong
Manthong's picture

Should be some good new "Re-po Man" reality show episodes in the making.

Thu, 12/01/2011 - 18:19 | 1936514 trav7777
trav7777's picture

The greens need to start protesting the Volt for all the emissions it pollutes the atmosphere with....when it burns up

Thu, 12/01/2011 - 18:25 | 1936537 candyman
candyman's picture

The Volt will do wonders for the coal industry, I love that little car. Come on tree huggers, get on board.

Thu, 12/01/2011 - 18:37 | 1936589 GubbermintWorker
GubbermintWorker's picture

Yeah, my coal etf could use a little nudge!

Thu, 12/01/2011 - 19:54 | 1936754 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Betting on coal is like betting on the Brittish Empire in the 19th Century.

Thu, 12/01/2011 - 20:07 | 1936773 clymer
clymer's picture

I'm sorry, "tycoon" matchmaker?

Thu, 12/01/2011 - 20:17 | 1936796 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What will we do?  Use coal liquids?  That worked wonders for Hitler and his Nazi party after they had their oil supply cut off from the US.

Thu, 12/01/2011 - 21:47 | 1936977 Almost Solvent
Almost Solvent's picture

Dilithium Crystals?

Thu, 12/01/2011 - 22:32 | 1937080 YBNguy
YBNguy's picture

TD, where is the update about GM buying back all the volts due to unknown fire issues?

Fri, 12/02/2011 - 00:50 | 1937372 Oh regional Indian
Oh regional Indian's picture

Seriously folks. Seriously. What a fall eh? From the company that gave us the Sting Ray, we now get the Volt.

The crash of the US Auto industry so mirrors the crash of the USSA. And Detroit is fractally the withered center of it all. 

Quite the study in social anthropology.

ORI

/the-plan/

Thu, 12/01/2011 - 20:20 | 1936786 Max Fischer
Max Fischer's picture

 

 

Tyler

I respectfully disagree with your assertion that most of GM's sales come from subprime loans.  If you offer some proof of that, I'll gladly admit my error.

Furthermore, your claim that NINJA loans are back at GM is not accurate, either.  GM's subprime arm is AmeriCredit, and they require proof of income on absolutely - no exception - all loans.

Additionally, GM dealerships are able to choose from a wide variety of subprime lenders, all of whom have their own individual underwriting standards.  These lenders serve the ENTIRE car business, not just GM.  Dealers simply choose which lender pays out the most "reserve" (interest) kickback and largest advance (front end gross profit).

I'm not trying to be a jackass.  Just trying to help expose the truth, for better or worse.

Max Fischer, Civis Mundi 

 

Thu, 12/01/2011 - 20:40 | 1936847 fuu
fuu's picture

Hmm. Where have we heard this before?

http://www.zerohedge.com/news/student-loan-racket-complete-infographic#c...

 

"Tyler,

I respectfully disagree with a point in your article. With regard to car sales, you're connecting dots that simply cannot be connected. 

You claim the surge in car sales is due to GM's subprime loans, but you provide no proof of that.  You simply provide a link to a MarketWatch article from the summer of 2010 when GM purchased AmeriCredit.  Do you thinkall car sales are anchored to AmeriCredit? In other words, is the balance sheet of AmeriCredit a mirror of the entire car business?  Furthermore, do you think all GM's subprime loans go to AmeriCredit? Where's your forensics of AmeriCredit's portfolio and of GM's sales?

You're cynically trying to say that the surge in car sales is directly rooted in GM's subprime loans, and this just isn't correct.  I think you're trying to make it look like GM's only business is subprime, and that the only reason car sales have surged is due to GM ratcheting up their subprime portfolio. 

And this is just false.

We want truth, not propaganda.  If you insist on spinning everything negative, then you're no different than CNBC who spins everything positive."

Thu, 12/01/2011 - 21:32 | 1936941 infinity8
infinity8's picture

I'm starting to think he's is another personality of MDB. He's right about how GM and all the others put a deal out on the wire and see who'll take it but, they all have their in-house specials for the ones that can't get bought or that won't fly. Subprime is totally back on both levels.

Thu, 12/01/2011 - 20:47 | 1936860 deez nutz
deez nutz's picture

Max, Max, Max ......

During the Dallas game on thanksgiving GM ran several ads for the Silverado.   They included the financing:  0% for 6 years.   How many subprime lenders, other than Uncle Sugar, lend money for 0%?   They can barely get the jim-bobs back into the dealership let alone sell them 4% interest on a truck loan.  Talk to anyone with a new GM and you get the same answer:  ZERO INTEREST LOAN!!!!!!

Talk to real people on the street and you'll find your proof.  They fogged the mirror and won the prize at the GM dealership.   Lucky them.

 

 

Thu, 12/01/2011 - 21:07 | 1936895 Freddie
Freddie's picture

Si Si Puede!  GM = the muslim's car company. He and Jon Corzine are the leaders of the Democrat Party.

Fri, 12/02/2011 - 01:35 | 1937427 Axenolith
Axenolith's picture

I wasn't ever going to buy GM after their backstabbing of Saturn, but they are practically giving trucks away compared to Ford, and I have a near 20 year relationship with the people at the dealership, and bought a Silverado in July.  It was loaded, and in the range of 15-20K less than a comparable F-150 (which Ford has actually been making worse over time IMO, we have late 90's to a 2011 at work, we call the 2011 "the Enemy" and "Blind Spot"). 

 

The financing was 3.75% on a 66 month loan and I put 2K on it to get the payment under $400, no docs, but then again I've bought 5 new vehicles at the place over time. 

Fri, 04/13/2012 - 10:12 | 2341441 kall
kall's picture

I agree, they do have some offers that are hard to refuse these days, I think GM is leading a survival mode strategy and I think that's wise of them, I read few news about it on partsgeek.com. I would buy a GM if I had the money today, after all I would be supporting the local economy.

Fri, 12/02/2011 - 01:20 | 1937409 Axenolith
Axenolith's picture

The British Empire was a pretty sure bet throughout the 1800's so you either think coal is a good bet (which it is 'cause you can do a lot of stuff with it and it's got awesome chemical energy density), and have a brain, or think that 19th century = 1900's (when the British Empire began it's slide to oblivion) and don't like coal for irrational or ignorant reasons and are a dumbass...

 

Which be it?

Thu, 12/01/2011 - 18:37 | 1936590 c0ncerned citizen
c0ncerned citizen's picture

I hope the tree huggers keep buying them.  We will see Darwins work again!!!

Fri, 12/02/2011 - 06:58 | 1937736 krispkritter
krispkritter's picture

Dar-Winning!  Have you hugged your Volt today?

Fri, 12/02/2011 - 12:02 | 1938695 gloogle
gloogle's picture

And did you live to tell about it?

Thu, 12/01/2011 - 18:41 | 1936610 LawsofPhysics
LawsofPhysics's picture

Yeah, I've got some of those energy stocks too.  Can't wait to get a Volt for a few ounces of silver.

Thu, 12/01/2011 - 18:51 | 1936631 DB Cooper
DB Cooper's picture

What a farce electric cars are.  http://www.youtube.com/watch?v=MRT9dxq9Dwk

Thu, 12/01/2011 - 19:44 | 1936737 Carlyle Groupie
Carlyle Groupie's picture

We need the big fucking V-12's. 675 horsepower to get to Walmart. Buy a scented candle and fucking come home. 8 miles round trip. 12 gallons of shiz burned! Bitchez! Yea!

Thu, 12/01/2011 - 20:59 | 1936885 smiler03
smiler03's picture

I think electric cars are a great addition to the choice of vehicles.

But only if electricity is too cheap to meter otherwise they're just stupid. Also the purchase prices are not for financially sane people.

Thu, 12/01/2011 - 21:28 | 1936922 Translational Lift
Translational Lift's picture

All these dumb-fucks riding around in their elec-cars thinking how cool they are.....so....where does all that electricity for the cars come from??  Why of course...COAL, OIL, GAS, NUKE and some HYDRO and minor bits of wind and solar.  So what REALLY powers the electric Car??

Fri, 12/02/2011 - 01:37 | 1937431 Axenolith
Axenolith's picture

Atlantean zero point modules.

Fri, 12/02/2011 - 12:03 | 1938701 gloogle
gloogle's picture

SPICE!

 

THE SPICE MUST FLOW!!!

Thu, 12/01/2011 - 23:51 | 1937241 sun tzu
sun tzu's picture

or you could just get a honda accord that gets 23/34mpg or maybe a civic that gets 30/40mpg and costs 50 to 75% as much as a volt and doesn't catch fire or break down  like a government motors car

Fri, 12/02/2011 - 08:15 | 1937785 Taint Boil
Taint Boil's picture

 

 

The Chevy Volt is a scam and the Hummer is more earth friendly than the Prius - report here. Just basic science ..... amazing how people can't grasp the basic laws of physics, etc. Well off to Walmart I go to buy some plastic from China, chow!

Sat, 12/03/2011 - 20:29 | 1942627 BlakeFelix
BlakeFelix's picture

LOL that report had the average hummer H1 lasting 35 years and going 350,000 miles!  That's hilarious.

Thu, 12/01/2011 - 18:31 | 1936568 ghengis86
ghengis86's picture

or protest the pollution from shitting GM shares all over the place.  $20.96 today, not even plumbing its latest low of $19.05...what did it IPO at again?

Thu, 12/01/2011 - 19:06 | 1936661 Mentaliusanything
Mentaliusanything's picture

I'm a "value investor" - do you think it time to go all in?

I mean, after all it's not like it can go broke, well , permanantly.

Personally I'm waiting for Warren to give me some direction.

sarc/

Thu, 12/01/2011 - 21:30 | 1936930 Translational Lift
Translational Lift's picture

He already did...he bought in big to that Chinese elec-car Co.  Go for it Dude!!

Thu, 12/01/2011 - 19:08 | 1936665 Rainman
Rainman's picture

uh, believe it was 32 fiatscos and a pence or two. I seem to recall GM disclosing its internal controls were missing before issue, no..?? It got slurped up anyway. 

Thu, 12/01/2011 - 19:57 | 1936756 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

$32/$33

Scull and Bones, bitchez!

Thu, 12/01/2011 - 18:49 | 1936627 High Plains Drifter
High Plains Drifter's picture

it also catches on fire too sometime, which the new owner would surely appreciate after being screwed for the money they charge for that piece of shit.....

Thu, 12/01/2011 - 19:07 | 1936663 Spastica Rex
Spastica Rex's picture

Is the Volt selling? I think it's ghey.

Thu, 12/01/2011 - 20:21 | 1936807 robertocarlos
robertocarlos's picture

Jay Leno's daily driver is a Volt. He put on 11,000 miles so far and has used 1/2 tank of gasoline in one year.

Thu, 12/01/2011 - 22:49 | 1937120 RmcAZ
RmcAZ's picture

In fact, they are so awesome, that GM wants to buy them back: http://www.theglobeandmail.com/globe-investor/gm-offers-to-buy-back-chevy-volts/article2256947/

Thu, 12/01/2011 - 19:20 | 1936692 Piranhanoia
Piranhanoia's picture

You like riding a bomb when you drive, you're just that kind of guy.   See, hey put this holllow box under yours and fill it with an explosive used by terrorists everywhere.  They get to scrimp on quality and safety because no one sees it.  They put electrical contacts near it, and exhaust systems hot enough to ignite it, and then to make it better, they put it where it will collapse in an accident and open up.

You ever seen one burn with people inside?   

Thu, 12/01/2011 - 19:37 | 1936724 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

It's not really called the Volt, it's really the GM Pinto!

Calling Ralph Nader...

Thu, 12/01/2011 - 18:22 | 1936526 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Not if they can't sell the cars.

Thu, 12/01/2011 - 18:39 | 1936602 Sudden Debt
Sudden Debt's picture

HEY! If the economy totally recovers and even grows 50%, THEY will be prepared and will be able to sell every American + aliens 2 cars each! Now YOU tell ME which brand will be able to do the same smartpants!

Thu, 12/01/2011 - 18:52 | 1936622 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Well, if you factor in the spontaneous combustion feature it is really more like 1 each, but you make a good point (just need to get that 50% growth thingy going). LOL

Thu, 12/01/2011 - 18:55 | 1936563 bigdumbnugly
bigdumbnugly's picture

yep manthong.  except the re-po man viewers might figure they're just reruns and switch channels.  "ahh it's the GM car one again.  seen it!"

Thu, 12/01/2011 - 20:25 | 1936812 Tijuana Donkey Show
Tijuana Donkey Show's picture

No one is taking back Chevy's, maybe a Ford or Honda, but not a Chevy. 

Fri, 12/02/2011 - 16:03 | 1939630 monoloco
monoloco's picture

I love my new Escalade, I sure hope congress extends my unemployment benefits so I can keep making my payments, I'd sure hate to lose it with only 7 more years until it's payed off. I'm thinking about getting a new big screen TV next, so I'll be more comfy in my mom's basement.

Thu, 12/01/2011 - 18:18 | 1936510 jcaz
jcaz's picture

Why not?  GM is no dummy-  if they fuck up again, they know the guberment will bail them out again.....

Thu, 12/01/2011 - 18:31 | 1936567 Motorhead
Motorhead's picture

Absolutely no incentive to put out a good, safe product.  N'Obama's pay-back to the UAW was, in his mind, a rousing success.

Do NOT follow this link or you will be banned from the site!