show me a trend. show me that the number of cars on GM lots is greater now than 1, 2, 3, 4, and 5 years ago. Don't give me a single month because it means nothing. Only a moron has 27% sales increase and doesn't bolster their inventory to respond to the potential for growing profits.
My position is supported by the numbers. FACT: GM has double the standing inventory of Ford and actual sales of the two companies are close to even. Even if Ford also counts inventory as sales, the fact remains...GM did NOT make the profits claimed, not yet anyway.
The most reliable GM ever made was the Geo Prizm (prism?). By far and away, bar none, the best vehicle ever made by GM when it comes to dependability and reliabiility and durability.
OOPS!!!! Toyota made that car for them and let them slap a GEO (prestige!) badge on it.
Epic FAIL!
'21 BMW X3 M40i, '15 Audi S4, '16 Audi TTS, Wife's '19 VW Tiguan SEL 4-Motion
so, you are claiming that 50% of all soc sec benefit money is taken back from the recipients by the gov. as taxes? Are you sure? I'll have to google this.
I may have misunderstood your post. I was jokingly saying that perhaps 50% of your post was correct.
>Based upon what you posted, I think GM records a "sale" as a delivery to a dealer.
The operative word in your post is the word "I think."
Show me the line in the post, from a biased source albeit, that says GM counts a car as sold in data reports of public sales when the car's value is transferred to the dealerships' lots. :P
Please! I put this akin to companies in Ohio who used to load production onto railroad cars on sidings on their property so as to NOT count said product in their taxes to the State as property taxable items done once per year.
On the other hand, perhaps you can provide a valid, unbiased link where it is stated that the cars moved to dealer lots are counted as sold and any such accounting is different than accepted as standard among other auto producers.
Since this is related to "Market Share" I believe it's important to follow up since it is on topic for this discussion.
I don't understand the cynicism; I was asking an honest question. I don't see evidence that they DON'T count sales to dealers as their sales, either. Do we have any real data either way?
OTOH, how about a valid, unbiased statement directly from the company that indicates their earnings reported numbers are NOT produced according to generally accepted accounting principles (GAAP)?:
GM Reports Net Income of $3.2 Billion.... ...Earnings before interest and tax (EBIT) were $3.5 billion... ...The accompanying tables and charts for securities analysts include earnings before interest and taxes (EBIT), EBIT adjusted and Automotive free cash flow which are not prepared in accordance with Accounting Principles Generally Accepted in the United States of America (U.S. GAAP) and have not been audited or reviewed by GM's independent auditors. EBIT, EBIT adjusted and Automotive free cash flow are considered non-GAAP financial measures.... ...GM's calculation of these non-GAAP financial measures may not be completely comparable to similarly titled measures of other companies due to potential differences between companies in their method of calculation....
Wow - such a shocker. And you wonder why I'm in favor of The Government staying on the job until it's properly cleaned up. Leaving while it's only halfway "fixed" is clearly going to result in GM operating in their old manner almost immediately - and we all know where that's going to lead us taxpayers in a decade from now.
Things are tough right now. $4 gas. tiny raises. A choice between $19 or $20 trillion of debt in 4 years for our country. My savings and house are worth less due to the declining dollar. High gas prices seem to be here to stay.
The top 20 list of attributes when I buy a new car: In no particular order, except for #18-20. 1. comfort price safety efficiency utility performance looks quality reliability cost to maintain cost to insure sound system handling noise value warranty dealer location 18. superiority of management of selling corporation 19. whether or not any bailout was fully paid back 20. would ow approve?
numbers are NOT produced according to generally accepted accounting principles (GAAP)
Well, FWIW here's my two cents on all of this.
In all fairness, I don't think financial investment analysis tools like free cash flow are always done according to GAAP since there are many different opinions on what is should represent and how it should be calculated.
As for GAAP. personally I'm not always comfortable just because something meets GAAP. Those principles are pretty flexible in reality. I'm sure those Wall Street banks met GAAP. I also believe that while some individual company guidance or reports may not meet GAAP, the overall accounting and formal 10K reports do if GM is to continue being listed on the stock exchange. In fact, GM is required to indicate when individual reports and guidance are not IAW GAAP. The report and footnotes you are referring to may well just be pro forma output.
As for when a manufacturer books a sale it generally is when the item is sold to the retailer, wholesaler, etc. First, title passes at that point. Second, it would be difficult to track individual retail sales points and dates (and how would a manufacturer account for retailer deferrals such as salesmen vehicles for test drives in conjunction with the manufacturer's financial statements and tax calculations?). Third, the IRS generally rules revenue is incurred at time of sale (to retailer, etc.). However, dealer retail inventory should raise a flag to investors if it is building up too high because in that case it may well lead to reduced manufacturer sales down the road, and possibly to financial constraints affecting their retailers and their ability to continue purchasing future inventory as well.
Berri, thanks for the feedback. So if I understand you correctly, are you saying that for autos they are probably accounted for as sales when they are delivered to the dealer, as opposed to sold to the retail or fleet customer? If that's true, then the assertion that "channel stuffing" would bolster sales and earnings would be correct. Or are dealers selling vehicles "on consignment" in which the sale doesn't actually occur until the retail customer makes the purchase?
I don't think most manufacturer to retailer is done on consignment except for a few perishable, specialized products, or new vendor offerings perhaps. Generally a sale would be booked either at receipt of order, or upon delivery and payment. I have heard in the old days about dealers getting forced to take product, but I think more common these days are manufacturer to dealer sales promotions and discounts. So channel stuffing is probably less likely than the offering of extra discounts or the like. A company could also encourage a dealer to take extra product in return for a better allocation of high demand vehicles, but I believe some states have restrictions on such activity. What also might be in play is dealer preparation for a big manufacturer sales event coming up, but I don't really know specifics at GM.
GM in its own financial disclosure admitted they do count the dealer sales as sold but I am having trouble finding it...will look and report. Maybe others do it also but GM has inventory out the wazoo..look at Edmunds inventory numbers from NE Indiana 500 mile radius
Acura (5520) Cadillac (11955) GMC (24299) Kia (18373) Maserati (55) Porsche (958) Suzuki (1800) Aston Martin (49) Chevrolet (104343) Honda (42757) Lamborghini (4) Mazda (17040) Rolls-Royce (22) Toyota (60210) Audi (2776) Chrysler (13899) Hyundai (9729) Land Rover (1351) Mercedes-Benz (8149) Saab (1377) Volkswagen (12697) Bentley (24) Dodge (36986) Infiniti (5116) Lexus (5022) MINI (1032) Scion (2125) Volvo (3943) BMW (7842) Fiat (440) Jaguar (865) Lincoln (5474) Mitsubishi (5250) smart (99) Buick (16978) Ford (80104) Jeep (31196) Lotus (12) Nissan (40575) Subaru (7688)
So if you add up GMC, Chevy, Buick, and Caddy I get 157575 vehicles. At a guesstimated average of $25K each, that's $3.9 Billion in inventory at dealers, unsold.
Ford's total is 85578 vehicles, which is a difference of 71997 vehicles. Don't Ford and GM have approximately similar market shares? If you assume that $25K/vehicle as a guess, then the excess inventory of GM over Ford at dealers is $1.8 Billion!
Am I the only one who doesn't care about how much inventory GM or Ford has? I buy on past experience, liking the product, liking the dealer, and buying American. How much inventory on hand is moot to me. But then, I like Studebakers too and would've bought a new one in a heartbeat had I been of buying age then, even though I can only imagine what their inventories looked like the last few years.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
You're not the only one. I could care less if I was the ONLY one buying GM cars as long as they had them available for me. I also buy on past experience which has been fantastic with Cadillac and Buick. Liking the dealer? Heck, my last two cars came from the same dealership and purchased from the same salesman. Buying American is a priority, not only with cars, but with ALL products. They should rename this topic "Bash GM" or "I Hate GM" or "Find Anything Bad About GM and Gloat About It." Good God, what is wrong with some of these posters? Did some dude in a Chevy or Buick run over your dog when you were a child?
Shoot, I could've seen myself in a nice 1956 Packard Carribean back in the day.
False claims of profit may cause investors to lose money based on the shady accounting. Inventory has no bearing on how well the vehicle will perform for any individual. GM is desperate to appear to be successful and pushing extra inventory on to the dealers is deceptive at best.
The media (including this site) is on the feel-good bandwagon in full force probably because the govt announced it was planning to sell its remaining GM stock a couple weeks back...and protection of the messiah has become a full time job. Some of us have not forgotten that billions in debt was forgiven and that GM pays no taxes on its "profits" which are being crowed about in the press.
Did some dude in a Chevy or Buick run over your dog when you were a child?
No, I just dislike any Deadbeat individual, company, or government here in the U.S. or anywhere in the world for that matter; that overspends, overpays, or otherwise wastes $$ for their benefit, and then gives a sob story story and sticks others with the bill!
And I used to like GM, owning some stock 10 years ago, and having bought a new '94 Corsica, a 98 Camaro, a 2000 Silverado, and a 2001 Firebird. I like buying American, and I wouldn't discount buying another GM product. But I absolutely hate arrogance and welfare mixed together.
Maybe it's because I've been an auditor my entire adult life (31 years out of college), although I've never been in public accounting, you seriously don't think that in this age of Sarbanes-Oxley there's not or will not be tons of review of GM's accounting practices through all this? Do you actually think there could ever be another Enron? I think you're fooling yourself. I don't think there's any cloak-and-dagger stuff going on here that's going to fool investors or auditors...not at this point.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
>government here in the U.S. or anywhere in the world for that matter; that overspends, overpays, or otherwise wastes $$ for their benefit, and then gives a sob story story and sticks others with the bill!
How do you feel about FAnnie Mae? Freddy Mac? Congress? They are spending huge amounts of money and asking for more for the first two? Did you get a home mortgage that was bought/backed by Fannie or Freddy?
I happen to work for a distributor [ not a car dealer ] and I have worked for several, over the years – I do not understand how some people here think that "channel stuffing" might work.
No reasonable distributor would allow a manufacturer to push inventory to them that they did not believe they could sell in a timely manner.
No way – no how.
GM [ Ford, etc. ] cannot simply ship units to a dealer.
The dealer must order them.
Can someone please tell me exactly how they think that "channel stuffing" could occur?
GM is being proactive in cooperating with these recalls. They are helping the owners with problems that might occur. That's unlike Honda and transmissions in Odysseys now where they offer to fix them for $5,000,6000,7000 for the owner, or CR-Vs with the grenades called AC compressors, or the runaway acceleration in toyota products from Corolla to the lexus models which are just upgraded Camrys. And don't forget the sludge--did toyo ever admit to that or was it just a consent decree?
"Of the 668 complaints, 58 incidents were alleged to result in a vehicle stall," said the National Highway Traffic Safety Administration in its defect investigations summary. "Of the 58 stalling incidents, 43 complaints reported stalling because the fuel level reading indicated more fuel availability than what is actually in the fuel tank.
"One complaint alleged a vehicle crash after the vehicle stalled while exiting the interstate, became disabled and was struck from behind."
runaway acceleration in toyota products from Corolla to the lexus models which are just upgraded Camrys. And don't forget the sludge--did toyo ever admit to that or was it just a consent decree?
Hmm, I didn't know the Corolla was affected. I'll keep that in mind the next time I drive my uncle's '03. It's kinda slow, heck it could use a little sudden acceleration! :P
As for engine sludge in the 3.0 V-6, I was under the impression that they did fess up to it. I think it tended to be the worst in vehicles with crowded engine bays, such as the Toyota Sienna minivan, where the heat build up from the engine wasn't adequately dissipated. If you changed your oil fairly regularly and didn't let it run low, most likely you were fine, but if you constantly let it run a couple quarts low, stretched out those oil changes too far, etc, they were more likely to sludge.
Be sure to go post in the Kia discussions to let them know about the REAL recall in your post!!! I checked and you hadn't posted anything there, of course.
Having gas tanks fall to ground while driving is a lot more dangerous than running out of gas because the fuel gas is supposedly wrong!!! ROFLMAO
"Also Friday, NHTSA said Kia Motors Corp. is recalling more than 58,000 Spectra compact cars registered in 20 cold weather states, including Michigan, because the gas tanks could drop to the ground and cause a fire.
"The recall affects Spectra LD models from the 2004 to 2007 model years in 20 states and Washington, D.C.
"The cars, built from Nov. 7, 2003, through March 6, 2007, have straps that hold the gas tank to the frame. When exposed to road salt, the straps can rust and the tank can fall, causing a fuel leak and possibly a fire.
"Documents filed with NHTSA did not state whether the problem had caused any fires or injuries. A message seeking comment was left for a Kia spokesman.
"Dealers will replace the fuel tank straps with zinc-coated parts for free. Kia will mail letters to car owners in June, after dealers get parts to fix the problem. "
Maybe it's because I've been an auditor my entire adult life (31 years out of college), although I've never been in public accounting, you seriously don't think that in this age of Sarbanes-Oxley there's not or will not be tons of review of GM's accounting practices through all this?
Well Sarbanes-Oxley didn't do squat to prevent AIG, Lehman Bros, etc. to bring down the economy. Their AAA securities were fragile repackaged loans based upon a real estate balloon. And you don't think the politics enter into the government's desire to make GM look very successful before dumping their stock at a large loss?
I'll go with Kernick's excellent post - I also don't like or support deadbeats and falures, regardless of what industry they are in. My desire that failures actually fail is the inherent belief that the best way to strengthen the US economy is to keep pruning the deadwood from the tree.
How do you feel about FAnnie Mae? Freddy Mac? Congress? They are spending huge amounts of money and asking for more for the first two?
If you're asking me what justice what be, many of these executives, corporations and politicians would have all their assets frozen, and they'd be jailed. The head of Chrysler and GM should have been led away in handcuffs back in 2008-09. It's completely unlikely since our Political and Wealthy individuals and corporations are washing each others backs. Historians will probably look back at the last few decades, and decide this is when the Class War bagan, and the demise of the U.S.
Have you seen the analysis that the U.S. will be the #3 economy in the world, no later than 2050?
I have no faith in our leaders knowing what they're doing (Bernanke) and the fact that they make-up the rules as they go, favoring any group they like! Consider that our financial policies favor the rich in all cases - bailouts, spending and stocks! while sticking it to the declining middle class and swelling poor in terms of inflation, unemployment, and underemployment.
Our leaders may be smart in always keeping us at war with someone, so that they can get people rallied around the flag, rather than focus on the abomination of domestic policies. Great to see we're spending many billions on high speed trains, while the economy is so bad that 1 in 7 familes are on Food Stamps!
Do you really believe that after Enron, and AIG and Lehman Bros, what brought them down is going to happen again now at GM? I think there are eyes there (GM) that have never been on them like that before.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
Do you really believe that after Enron, and AIG and Lehman Bros, what brought them down is going to happen again now at GM? I think there are eyes there (GM) that have never been on them like that before.
We probably all agree on how we feel about those other companies. I also think that it will be really tough for GM to change enough to ultimately be successful long term. If they do it, then (financially), perhaps the bailout will have worked. But I suspect that within the decade we will see another failure, which would mean we just prolonged the agony --- and made it harder for Ford, who didn't take bailouts, to compete.
There are four other color photos of it on delivery day at that site, too.
I saw the car in '98...it survives in beautiful condition, in Kernersville, NC. It sits on Packard wire wheels now. It's serial no. 1258, which is only 18 from the last Packard convertible built. The Stude-Packard dealer is a friend of mine and let me make pics from color slides he had.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
It appears GM is not hanging on to a lot of former Pontiac and Saturn buyers. Same goes for Mercury and Ford Motors. They are both going to probably have to aggressively seek new buyers instead. I think the LaCrosse has been somewhat successful in that area, but if the start up issues and recalls with the Cruze keep climbing, that may become a problem. I still don't understand why they put a critical new product into Lordstown given its sad history.
I grew up 40 miles from that plant. It was known as militant really only when the Vega was built there and the line speed was upped to 100 cars an hour, after Chevrolet was no longer responsible for the plant but it became a GMAD (General Motors Assembly Division) plant. They subsequently built the H-specials there, then the Cavalier for over twenty years, then the Cobalt. When the Vega was built there, they also built full-size Chevy and GMC vans. When the plant opened in '66, they built full-size Chevys. They subsequently added Camaro and Firebird before the plant was completely retooled for the Vega, which was the most automated assembled car in the U.S. at the time. Lordstown was widely considered American's most modern assembly facility. They had to bid on the Cruze..they didn't automatically get it because the Cobalt was built there. They are rated on things like quality and many other things before a new car is assigned to them.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
Kinda like putting gas in the filler neck. You do it and then don't do it next time and report 28 mpg instead of 27 mpg. If you do it again the next tank you still only get 27 mpg.
GM keeps reporting monthly and quarterly sales increases. Month after month after month. Is it time for another good month to be reported on yet?
Probably will happen across the board, if Edmunds' Chief Economist is right.
"Increased consumer confidence would have triggered the release of pent-up demand for autos, in particular from consumers who were delaying auto purchases due to generally weak economic conditions, rather than due to personal constraints from a weakened employment situation or decreased access to credit."
I haven't read anything militant about them in decades at Lordstown. Most of those guys would be long-retired by now, and the employment level there is probably less than half (if even that) what it was in '72-74.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
Be sure to go post in the Kia discussions to let them know about the REAL recall in your post!!! I checked and you hadn't posted anything there, of course.
Having gas tanks fall to ground while driving is a lot more dangerous than running out of gas because the fuel gas is supposedly wrong!!! ROFLMAO
Does Kia make these?
DETROIT (AP) -- U.S. safety regulators are investigating a fuel tank problem that could affect more than 2.7 million Ford F-150 pickup trucks.
The National Highway Traffic Safety Administration said Monday that the steel straps holding up the truck's gas tank can rust and break, possibly causing a fuel spill and fire. No injuries have been reported from the possible defect.
The agency is looking into trucks from the 1997 through 2001 model years. NHTSA's investigations often lead to recalls.
Comparing 1971 and 1996 large recalls, but completely not mentioning 2010 Toyota recalls.
Astonishing.
Not to mention, your link is from fully one year ago. How many more Toyotas have been recalled since then?
Ford's recall is for vehicles from fourteen years old up to the newest, ten years old. How many of those vehicles built are actually still being used? Compare this to Toyota and Kia recalls...and there is no comparison.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
Comments
OOPS!!!! Toyota made that car for them and let them slap a GEO (prestige!) badge on it.
Epic FAIL!
I may have misunderstood your post. I was jokingly saying that perhaps 50% of your post was correct.
The operative word in your post is the word "I think."
Show me the line in the post, from a biased source albeit, that says GM counts a car as sold in data reports of public sales when the car's value is transferred to the dealerships' lots. :P
Please! I put this akin to companies in Ohio who used to load production onto railroad cars on sidings on their property so as to NOT count said product in their taxes to the State as property taxable items done once per year.
On the other hand, perhaps you can provide a valid, unbiased link where it is stated that the cars moved to dealer lots are counted as sold and any such accounting is different than accepted as standard among other auto producers.
Since this is related to "Market Share" I believe it's important to follow up since it is on topic for this discussion.
2014 Malibu 2LT, 2015 Cruze 2LT,
OTOH, how about a valid, unbiased statement directly from the company that indicates their earnings reported numbers are NOT produced according to generally accepted accounting principles (GAAP)?:
GM Reports Net Income of $3.2 Billion....
...Earnings before interest and tax (EBIT) were $3.5 billion...
...The accompanying tables and charts for securities analysts include earnings before interest and taxes (EBIT), EBIT adjusted and Automotive free cash flow which are not prepared in accordance with Accounting Principles Generally Accepted in the United States of America (U.S. GAAP) and have not been audited or reviewed by GM's independent auditors. EBIT, EBIT adjusted and Automotive free cash flow are considered non-GAAP financial measures....
...GM's calculation of these non-GAAP financial measures may not be completely comparable to similarly titled measures of other companies due to potential differences between companies in their method of calculation....
Source: WSJ
Wow - such a shocker. And you wonder why I'm in favor of The Government staying on the job until it's properly cleaned up. Leaving while it's only halfway "fixed" is clearly going to result in GM operating in their old manner almost immediately - and we all know where that's going to lead us taxpayers in a decade from now.
The top 20 list of attributes when I buy a new car:
In no particular order, except for #18-20.
1. comfort
price
safety
efficiency
utility
performance
looks
quality
reliability
cost to maintain
cost to insure
sound system
handling
noise
value
warranty
dealer location
18. superiority of management of selling corporation
19. whether or not any bailout was fully paid back
20. would ow approve?
What? How shocking!
Regards,
OW
Well, FWIW here's my two cents on all of this.
In all fairness, I don't think financial investment analysis tools like free cash flow are always done according to GAAP since there are many different opinions on what is should represent and how it should be calculated.
As for GAAP. personally I'm not always comfortable just because something meets GAAP. Those principles are pretty flexible in reality. I'm sure those Wall Street banks met GAAP. I also believe that while some individual company guidance or reports may not meet GAAP, the overall accounting and formal 10K reports do if GM is to continue being listed on the stock exchange. In fact, GM is required to indicate when individual reports and guidance are not IAW GAAP. The report and footnotes you are referring to may well just be pro forma output.
As for when a manufacturer books a sale it generally is when the item is sold to the retailer, wholesaler, etc. First, title passes at that point. Second, it would be difficult to track individual retail sales points and dates (and how would a manufacturer account for retailer deferrals such as salesmen vehicles for test drives in conjunction with the manufacturer's financial statements and tax calculations?). Third, the IRS generally rules revenue is incurred at time of sale (to retailer, etc.). However, dealer retail inventory should raise a flag to investors if it is building up too high because in that case it may well lead to reduced manufacturer sales down the road, and possibly to financial constraints affecting their retailers and their ability to continue purchasing future inventory as well.
Acura (5520)
Cadillac (11955)
GMC (24299)
Kia (18373)
Maserati (55)
Porsche (958)
Suzuki (1800)
Aston Martin (49)
Chevrolet (104343)
Honda (42757)
Lamborghini (4)
Mazda (17040)
Rolls-Royce (22)
Toyota (60210)
Audi (2776)
Chrysler (13899)
Hyundai (9729)
Land Rover (1351)
Mercedes-Benz (8149)
Saab (1377)
Volkswagen (12697)
Bentley (24)
Dodge (36986)
Infiniti (5116)
Lexus (5022)
MINI (1032)
Scion (2125)
Volvo (3943)
BMW (7842)
Fiat (440)
Jaguar (865)
Lincoln (5474)
Mitsubishi (5250)
smart (99)
Buick (16978)
Ford (80104)
Jeep (31196)
Lotus (12)
Nissan (40575)
Subaru (7688)
Ford's total is 85578 vehicles, which is a difference of 71997 vehicles. Don't Ford and GM have approximately similar market shares? If you assume that $25K/vehicle as a guess, then the excess inventory of GM over Ford at dealers is $1.8 Billion!
Shoot, I could've seen myself in a nice 1956 Packard Carribean back in the day.
The media (including this site) is on the feel-good bandwagon in full force probably because the govt announced it was planning to sell its remaining GM stock a couple weeks back...and protection of the messiah has become a full time job. Some of us have not forgotten that billions in debt was forgiven and that GM pays no taxes on its "profits" which are being crowed about in the press.
No, I just dislike any Deadbeat individual, company, or government here in the U.S. or anywhere in the world for that matter; that overspends, overpays, or otherwise wastes $$ for their benefit, and then gives a sob story story and sticks others with the bill!
And I used to like GM, owning some stock 10 years ago, and having bought a new '94 Corsica, a 98 Camaro, a 2000 Silverado, and a 2001 Firebird. I like buying American, and I wouldn't discount buying another GM product. But I absolutely hate arrogance and welfare mixed together.
I started a topic "I Hate GM" but the host deleted the topic.
2014 Malibu 2LT, 2015 Cruze 2LT,
How do you feel about FAnnie Mae? Freddy Mac? Congress? They are spending huge amounts of money and asking for more for the first two? Did you get a home mortgage that was bought/backed by Fannie or Freddy?
2014 Malibu 2LT, 2015 Cruze 2LT,
[ not a car dealer ]
and I have worked for several, over the years –
I do not understand how some people here think
that "channel stuffing" might work.
No reasonable distributor would allow
a manufacturer to push inventory to them
that they did not believe they could sell
in a timely manner.
No way – no how.
GM [ Ford, etc. ] cannot simply ship
units to a dealer.
The dealer must order them.
Can someone please tell me exactly how
they think that "channel stuffing" could occur?
Thanks,
- Ray
confused . . .
The NHTSA has issued a recall for 865,000 Chevrolet TrailBlazers, GMC Envoys, Buick Rainiers and Saab 9-7s built from 2005-2007 due to faulty gas gauges.
2014 Malibu 2LT, 2015 Cruze 2LT,
The National Highway Traffic Safety Administration says it has received 668 complaints about the vehicles alleging inaccurate fuel gauge readings.
link title
"Of the 668 complaints, 58 incidents were alleged to result in a vehicle stall," said the National Highway Traffic Safety Administration in its defect investigations summary. "Of the 58 stalling incidents, 43 complaints reported stalling because the fuel level reading indicated more fuel availability than what is actually in the fuel tank.
"One complaint alleged a vehicle crash after the vehicle stalled while exiting the interstate, became disabled and was struck from behind."
Hmm, I didn't know the Corolla was affected. I'll keep that in mind the next time I drive my uncle's '03. It's kinda slow, heck it could use a little sudden acceleration! :P
As for engine sludge in the 3.0 V-6, I was under the impression that they did fess up to it. I think it tended to be the worst in vehicles with crowded engine bays, such as the Toyota Sienna minivan, where the heat build up from the engine wasn't adequately dissipated. If you changed your oil fairly regularly and didn't let it run low, most likely you were fine, but if you constantly let it run a couple quarts low, stretched out those oil changes too far, etc, they were more likely to sludge.
Having gas tanks fall to ground while driving is a lot more dangerous than running out of gas because the fuel gas is supposedly wrong!!! ROFLMAO
"Also Friday, NHTSA said Kia Motors Corp. is recalling more than 58,000 Spectra compact cars registered in 20 cold weather states, including Michigan, because the gas tanks could drop to the ground and cause a fire.
"The recall affects Spectra LD models from the 2004 to 2007 model years in 20 states and Washington, D.C.
"The cars, built from Nov. 7, 2003, through March 6, 2007, have straps that hold the gas tank to the frame. When exposed to road salt, the straps can rust and the tank can fall, causing a fuel leak and possibly a fire.
"Documents filed with NHTSA did not state whether the problem had caused any fires or injuries. A message seeking comment was left for a Kia spokesman.
"Dealers will replace the fuel tank straps with zinc-coated parts for free. Kia will mail letters to car owners in June, after dealers get parts to fix the problem. "
From The Detroit News: http://detnews.com/article/20110430/AUTO01/104300325/NHTSA-investigating-865-000- -GM-SUVs-for-stalling--running-out-of-fuel#ixzz1LrzRAmME
2014 Malibu 2LT, 2015 Cruze 2LT,
Nah, not really.
Well Sarbanes-Oxley didn't do squat to prevent AIG, Lehman Bros, etc. to bring down the economy. Their AAA securities were fragile repackaged loans based upon a real estate balloon. And you don't think the politics enter into the government's desire to make GM look very successful before dumping their stock at a large loss?
I'll go with Kernick's excellent post - I also don't like or support deadbeats and falures, regardless of what industry they are in. My desire that failures actually fail is the inherent belief that the best way to strengthen the US economy is to keep pruning the deadwood from the tree.
If you're asking me what justice what be, many of these executives, corporations and politicians would have all their assets frozen, and they'd be jailed. The head of Chrysler and GM should have been led away in handcuffs back in 2008-09. It's completely unlikely since our Political and Wealthy individuals and corporations are washing each others backs. Historians will probably look back at the last few decades, and decide this is when the Class War bagan, and the demise of the U.S.
Have you seen the analysis that the U.S. will be the #3 economy in the world, no later than 2050?
I have no faith in our leaders knowing what they're doing (Bernanke) and the fact that they make-up the rules as they go, favoring any group they like! Consider that our financial policies favor the rich in all cases - bailouts, spending and stocks! while sticking it to the declining middle class and swelling poor in terms of inflation, unemployment, and underemployment.
Our leaders may be smart in always keeping us at war with someone, so that they can get people rallied around the flag, rather than focus on the abomination of domestic policies. Great to see we're spending many billions on high speed trains, while the economy is so bad that 1 in 7 familes are on Food Stamps!
We probably all agree on how we feel about those other companies.
I also think that it will be really tough for GM to change enough to ultimately be successful long term. If they do it, then (financially), perhaps the bailout will have worked. But I suspect that within the decade we will see another failure, which would mean we just prolonged the agony --- and made it harder for Ford, who didn't take bailouts, to compete.
You're a good man lemko - you married her anyway! :P
Here is the one that was sold at our small hometown dealer in NW PA:
http://packardinfo.com/xoops/html/modules/myalbum/photo.php?lid=9805
There are four other color photos of it on delivery day at that site, too.
I saw the car in '98...it survives in beautiful condition, in Kernersville, NC. It sits on Packard wire wheels now. It's serial no. 1258, which is only 18 from the last Packard convertible built. The Stude-Packard dealer is a friend of mine and let me make pics from color slides he had.
Kinda like putting gas in the filler neck. You do it and then don't do it next time and report 28 mpg instead of 27 mpg. If you do it again the next tank you still only get 27 mpg.
GM keeps reporting monthly and quarterly sales increases. Month after month after month. Is it time for another good month to be reported on yet?
"Increased consumer confidence would have triggered the release of pent-up demand for autos, in particular from consumers who were delaying auto purchases due to generally weak economic conditions, rather than due to personal constraints from a weakened employment situation or decreased access to credit."
Strong Employment Bodes Well for 2011 Car Sales (AutoObserver)
Having gas tanks fall to ground while driving is a lot more dangerous than running out of gas because the fuel gas is supposedly wrong!!! ROFLMAO
Does Kia make these?
DETROIT (AP) -- U.S. safety regulators are investigating a fuel tank problem that could affect more than 2.7 million Ford F-150 pickup trucks.
The National Highway Traffic Safety Administration said Monday that the steel straps holding up the truck's gas tank can rust and break, possibly causing a fuel spill and fire. No injuries have been reported from the possible defect.
The agency is looking into trucks from the 1997 through 2001 model years. NHTSA's investigations often lead to recalls.
Fuel Tanks On The Ground!
Point is, all manufacturers have recalls....GM and Ford just leads the pack.
You make junk, it shows.
Add 'em up for yourself...
12 Largest Auto Recalls
Regards,
OW
Comparing 1971 and 1996 large recalls, but completely not mentioning 2010 Toyota recalls.
Astonishing.
Not to mention, your link is from fully one year ago. How many more Toyotas have been recalled since then?
Ford's recall is for vehicles from fourteen years old up to the newest, ten years old. How many of those vehicles built are actually still being used? Compare this to Toyota and Kia recalls...and there is no comparison.