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Old 05-12-2009, 09:11 PM   Nav to Top  #1
ImportedNoob
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Default GM: Now a buy?


FOX News
Tuesday, May 12, 2009
Motown may be moving east. Far east.

The latest twist in Detroit’s do-over has General Motors becoming the first automaker to import Chinese-built cars into the United States, according to Automotive News.

Citing a leaked document shown to lawmakers who are overseeing the restructuring of the auto giant, the newspaper reports that GM is planning to market made in China cars to American consumers as early as 2011, the same year the company’s heralded Chevrolet Volt electric car goes on sale.

General Motors is currently the best-selling foreign automaker in China, and Buick is number one brand overall, part of the reason that the nameplate was saved during a recent round of cuts that included the elimination of Pontiac. As an example of the growing influence of that marketplace on the company, the interior of the upcoming replacement for the Buick LaCrosse sedan was designed at a GM studio in Shanghai.

According to the report, GM plans to sell nearly 18,000 Chinese-made vehicles in the US in 2011, with that number rising to over 50,000 by 2014.

General Motors currently imports the Chevrolet Aveo and Pontiac G3 from South Korea, and several other models from Canada, Mexico and Europe. The United Auto Workers union has been critical of any plans to move more production overseas.




I'm not sure what to make of this news, but it's definitely worth hearing about.
If GM is going to be importing cars from China in 2011 while Chrystler and Ford are ran by unions... GM would be the clear winner in that lop-sided race and certainly won't be trading at $1 a share. Unions only know how to steal from the company and give more and more benefits to their employees. Once they RUN the business, I know that their employees are going to be squaking with their mouths open wanting more and more, but the union bosses will soon realize that the over-regulated and already inefficient auto-industry cannot support pensions fit for kings and medical coverage fit for athletes.

Last edited by chuckd; 05-23-2009 at 03:39 AM.. Reason: Added Tag
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Old 05-12-2009, 10:15 PM   Nav to Top  #2
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GM is a loser at the moment. It doesnt matter where their cars are being produced, they are headed for the bankruptcy courts. I dont know if that will appeal to longtime GM customers either to be honest, I sure as heck would stop buying them if I knew they sold us out for giving the Chinese work.

The one in the driver's seat is Ford. Chrysler is the same thing as GM right now, and while these two sit and hassle around in the courts, Ford is gaining market share BY THE DAY. You wont necessarily see it in their quarterly earnings right now because of the recession, but IMHO, Ford is positioned to come out of this in GREAT shape. I saw the other day a comment made by Mullaly saying that if this new labor agreement is enacted that they are working on right now, Ford will be profitable in EVERY vehicle line they produce. Sounds to me like they have their heads together! GM and Chrysler are going through the same thing that Ford was a couple years ago, except Ford never got to the word Bankruptcy.

to GM!!!

If you MUST buy something GM, get the bonds (BGM instead), they are the *safest* thing that GM has right now for you. And even that may not be safe if the government squirms its way around the regulations.
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Old 05-12-2009, 10:55 PM   Nav to Top  #3
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"I dont know if that will appeal to longtime GM customers either to be honest, I sure as heck would stop buying them if I knew they sold us out for giving the Chinese work."

Walmart, Dell and tons of other huge companies have and it doesn't affect their sales. Americans care primarily about price. Worrying about where it's made and who makes it is pretty much an upper-middle+ class concern.

I think there's going to be some big profits to come from gambling with GM... it seems that any bad news in this market always creates a more volatile market instead of a consistently negative one... during the AIG strikes, AIG shares were going up.

Maybe I'll just sit on the sidelines for this one and keep my eyes peeled for a good entry-point.
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Old 05-12-2009, 10:58 PM   Nav to Top  #4
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Im not saying its a bad idea. Theres just no sense in putting money into it when its likely going to go to .50 and stay there for awhile... GM will live to fight another day, but it wont be the same GM we have all known
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Old 05-12-2009, 10:59 PM   Nav to Top  #5
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For the record, I am a poor 30K in debt college student, and I do care if my car is produced in ChinaXDXD
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Old 05-12-2009, 11:00 PM   Nav to Top  #6
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do not touch common, it WILL be worthless. If you still wanna play GM BK, look at bonds, but they come with risk.

Originally Posted by ImportedNoob View Post
"I dont know if that will appeal to longtime GM customers either to be honest, I sure as heck would stop buying them if I knew they sold us out for giving the Chinese work."

Walmart, Dell and tons of other huge companies have and it doesn't affect their sales. Americans care primarily about price. Worrying about where it's made and who makes it is pretty much an upper-middle+ class concern.

I think there's going to be some big profits to come from gambling with GM... it seems that any bad news in this market always creates a more volatile market instead of a consistently negative one... during the AIG strikes, AIG shares were going up.

Maybe I'll just sit on the sidelines for this one and keep my eyes peeled for a good entry-point.
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Old 05-13-2009, 04:01 PM   Nav to Top  #7
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I just grabbed 2K shares for overnight... I hope I did the right thing.
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Old 05-22-2009, 09:59 AM   Nav to Top  #8
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Damn I really wish I had pulled the trigger on GM. Would have doubled up, but instead I've just been getting burned for 2 weeks. Ugh.
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Old 05-22-2009, 10:15 AM   Nav to Top  #9
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Default GM china

I would like to share a story of a Chinese car manufacturer (Landwind i believe) who wanted to sell their (very cheap) SUV in the dutch/european market back in 2005. Expectations were quite high, the dutch salesmen were o so optimistic about it, placing extra orders and all.

That was until they found out that it was safer to drive a tin can then that SUV. And that is the problem with Chinese cars; they dont meet (european) safety standards. It would be nice to know which chinese brand GM has in mind, but still, i think chinese cars are rubbish (so perhaps a good match with gm after all!XD).

Personally i believe that GM should have reacted when it could. They were (almost?) the first to announce some kind of Hybrid vehicle (which was for them only marketing) and they scared the crap out of the Yapanees carmakers (toyota, Honda) who immideatly started to develop the Prius and other hybrid technics. We all know the rest.

Best of luck with GM,

Greg
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