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Started By
Message
GM’s Profit More Than Doubles
Posted on 7/21/16 at 9:36 am
Posted on 7/21/16 at 9:36 am
LINK
Baws buying Sierras and gals buy Tahoes and Yukons
Baws buying Sierras and gals buy Tahoes and Yukons
quote:
General Motors Co., bolstered by strong truck and SUV demand in its core market, posted a 157% increase in net profit in the second quarter, leading the Detroit auto giant to lift annual guidance even amid concerns about financial impact of the U.K.’s decision to exit the European Union. The auto maker under Chief Executive Mary Barra has spent much of 2016 retooling for the future, spending more than $1 billion to invest in ride-sharing firm Lyft Inc. and to purchase autonomous-vehicle developer Cruise Automation Inc. Ms. Barra, who spent her initial months at the auto maker mired in a vehicle-safety crisis, has been working to convince Wall Street that GM can thrive in a cyclical car industry that analysts increasingly believe has peaked after years of growth.
16
Posted on 7/21/16 at 9:39 am to RedRifle
quote:
Chief Executive Mary Barra
Terrible CEO.
Posted on 7/21/16 at 9:42 am to RedRifle
Those new body styles are beautiful. Looks like the mid 90s models. Also helps they don't have a turbo V6.
Posted on 7/21/16 at 9:43 am to RedRifle
They're faking sales at the same time as raising margins. 70k trucks are a fricking joke.
Posted on 7/21/16 at 9:44 am to RedRifle
quote:
GM’s Profit More Than Doubles
Gas prices are low and people want good trucks and SUVs....lenders are very happy to lend money to buyers.
This post was edited on 7/21/16 at 10:24 am
Posted on 7/21/16 at 9:50 am to member12
the only reason cars are flying off the shelves are plain and simple low interest rates. If rates were 5-6% there is no chance they hit these numbers, but with where rates are, when your car is out of warranty, why pay a mechanic shop $2-3k for small things when you can go get a new car, under warranty for a few hundred bucks a month. I own a garage at one of my stores and its easier for me to just lease a brand new cadillac srx around $50k sticker for $399/mo as my work car and pay $4800/yr than waste time with some $10,000 car that im gonna have to waste my mechanics time fixing little nonsense with. I got this car bc I had a 2006 range rover and the suspension went out and my cost was going to be like $8k, I said adios range rover and just leased a new car.
This post was edited on 7/21/16 at 9:51 am
Posted on 7/21/16 at 9:51 am to RedRifle
How much govt money did they receive in order to get a leg up on the competition?
Posted on 7/21/16 at 9:52 am to dabigfella
quote:
I got this car bc I had a 2006 range rover and the suspension went out and my cost was going to be like $8k,
Good grief. I guess British cars today are still like British cars of the past in some ways.....
This post was edited on 7/21/16 at 9:53 am
Posted on 7/21/16 at 9:55 am to member12
that was if I bought everything and had my guy do it, the dealership wanted $12,800 and the car wasn't even worth that.
Posted on 7/21/16 at 9:55 am to upgrayedd
They've paid it all back, but they got really far behind on R&D.
That's why are so far behind Ford on their engine program.
That's why are so far behind Ford on their engine program.
Posted on 7/21/16 at 9:55 am to AUCE05
quote:
Also helps they don't have a turbo V6.
Why does it help? They aren't as powerful while being less efficient. Not to mention Ford still outsells them by a good bit.
Posted on 7/21/16 at 10:00 am to RedRifle
I'd like to see which cars jumped in sales so much and where
Posted on 7/21/16 at 10:05 am to LNCHBOX
You guys kill me with this behind on engines. The 5.3 is a rock solid engine that gets great mileage. Why in the hell would hey want to change it. The 6.2 is a monster in the half ton pickup that will still push 20 mpg out on the hwy.
Posted on 7/21/16 at 10:06 am to RedRifle
I miss these classicos:
GMC Envoy XUV
And of course the one & only arse-tek-
GMC Envoy XUV
And of course the one & only arse-tek-
Posted on 7/21/16 at 10:08 am to VetteGuy
quote:
They've paid it all back, but they got really far behind on R&D.
That's why are so far behind Ford on their engine program.
Didn't they essentially get a low interest govt loan to retool?
Posted on 7/21/16 at 10:08 am to Recovered
quote:Well, they are. Ford's 5.0 is just as efficient and more powerful. The Ecoboost blows it away.
You guys kill me with this behind on engines
quote:
Why in the hell would hey want to change it
Because it's not as powerful or efficient as the competition's engines.
Posted on 7/21/16 at 10:09 am to soccerfüt
If I ever get in a fatal car wreck, I hope it's with a Pontiac Aztec
Posted on 7/21/16 at 10:10 am to soccerfüt
Dude, SE Arizona has the absolute highest concentration of Pontiac Aztek's still on the road. It's mind blowing how many I see on a daily basis.
Posted on 7/21/16 at 10:12 am to upgrayedd
quote:
Didn't they essentially get a low interest govt loan to retool?
They got a loan, but by the time they got it they were well behind Ford on R&D.
R&D is the first thing cut when times are tight.
Posted on 7/21/16 at 10:12 am to Recovered
quote:
The 5.3 is a rock solid engine that gets great mileage. Why in the hell would hey want to change it. The 6.2 is a monster in the half ton pickup
The mileage they promote for the 5.3 is based on 2wd models with rear-end gearing so high that they're next to useless for pulling a trailer and a lowrider front end with an air dam that looks like a catfish and can barely clear a curb. That figure is a sham in the rear world, with a truck you'd actually want to own.
The 6.2 is a rare option on the highest level luxury trim only and mostly has to be special ordered.
This post was edited on 7/21/16 at 10:15 am
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