GM's quarterly loss widens to $4.8 bln

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  1. GM's quarterly loss widens to $4.8 bln


    NEW YORK (MarketWatch) -- General Motors Corp. shares fell as much as 7% early Thursday after the world's biggest automaker said its fourth-quarter loss ballooned to nearly $5 billion, with weakness in its North American auto business again slamming the bottom line.

    http://www.marketwatch.com/news/stor...&site****google





    OUCH!


  2. I grew up around mechanics and am a mechanic myself. I will never buy another foreign car no matter what the car salesmen say about honda being the best car. I've never heard a mechanic say that.
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  3. Quote Originally Posted by wastedwhiteboy2
    I grew up around mechanics and am a mechanic myself. I will never buy another foreign car no matter what the car salesmen say about honda being the best car. I've never heard a mechanic say that.
    Agreed.

  4. Honda , Toyota does seem to hold value much better than American cars. Is that just a myth, thats something "that you always hear from them". They also seem to have the least amount of trouble.

  5. JD Powers, Consumer Reports, etc. have reliability ratings and/or quality ratings for cars.

    Currently Hyundai is number one, followed by Toyota, followed by Honda. These stats have been in place since 2003. Before 2003 however, Hyundai was much lower; i.e. Toyota was number 1 and Honda number 2.

    GM still has quality issues compared to many foreign manufacturers. In some of their brands it is particularly abhorrant. IIRC Pontiac is GM. Pontiac has consistantly disgustingly low reliability ratings a large number of serious quality issues. That's just one example.

    When will US car manufacturers learn that we are sick of buying cars that break down after 2-3 years?
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  6. Ford and GM might merge... keep your eyes out for that

  7. Quote Originally Posted by Nullifidian
    JD Powers, Consumer Reports, etc. have reliability ratings and/or quality ratings for cars.

    Currently Hyundai is number one, followed by Toyota, followed by Honda. These stats have been in place since 2003. Before 2003 however, Hyundai was much lower; i.e. Toyota was number 1 and Honda number 2.

    GM still has quality issues compared to many foreign manufacturers. In some of their brands it is particularly abhorrant. IIRC Pontiac is GM. Pontiac has consistantly disgustingly low reliability ratings a large number of serious quality issues. That's just one example.

    When will US car manufacturers learn that we are sick of buying cars that break down after 2-3 years?
    More like, when will people like you realize American cars don't break down in 2-3 years?

  8. Quote Originally Posted by MaynardMeek
    Ford and GM might merge... keep your eyes out for that
    You have a source for that or just hearsay?

  9. Quote Originally Posted by Danl4560
    More like, when will people like you realize American cars don't break down in 2-3 years?
    When they stop breaking down after 2-3 yrs.

    I'm surrounded by mechanics in my friends and family, and they all have their differing opinions.

    The one good Ford we've owned was an old ford station wagon, and it had a mitsubish motor in it

    My mom's chevy camaro and dad's chevy 2500 have had problems since day one. My aunt/uncle had an explorer that they had to replace and engine and a transmission within 6 months. My dad had an old piece mitsu truck a few years back, and that thing ran for ages. Unlike his ranger, which was much more reliable than his 2500, but still had its own set of issues.

    The only American made car I'd buy is cadillac. The rest of them are made in mexico anyway. Many of the top foreign car manufacturers have their main factories here, in the US...they got it right, why don't the US companies like ford/chevy get it?

    Now, dont' get me wrong, this is a pretty recent development. You still see 40yr old chevy trucks runnin' strong all the time.

  10. Quote Originally Posted by Grassroots082
    Honda , Toyota does seem to hold value much better than American cars. Is that just a myth, thats something "that you always hear from them". They also seem to have the least amount of trouble.
    That is true. I am presently looking for a Good used Mini van. Have had Grand Caravan, one of the old big jobs, loved it and drove it to death. A Ford Aerostar again put 105,000 miles on it.
    Ford Winstar, Junk I tell you, 75,000 engine goes $3400, 90,000 transaxle$1600. Now at 115k guess what another transaxle.

    Looking at Honda and Toyota 2003 or up. I can get a 2005 Caravan or Venture or Freestar for less than the 2003`s. At least in my area.

  11. I'll be in the market for a truck soon and GM is pretty far down my list of possibilities.

    Don't get me wrong, I like a lot of things about GM trucks..all that power, Bose systems et cetera but I've driven nearly all of the major 4x4's over the years as a field biologist and the GMs just don't last. Fords, IMO, are lot better and Toyota/Nissan (excpet the Frontiers of the last 6 years suck) are even better than that in terms of reliability, cost to operate and durability.

    My top three 4x4 picks to look into..Nissan Titan, Toyota Tundra and Ford F150.

    Personally, I think most of that "Buy American" car mentality died when most of the Big 3 put all there major operations in Mexico. Those ****ers have no right to question my patriotism if they're not going to follow through.

  12. and together they shall make twice the amount of crappy cars

    saw on the news GM lost $37,000 a MINUTE last quarter. thats someones yearly income, insane.
    Quote Originally Posted by MaynardMeek
    Ford and GM might merge... keep your eyes out for that

  13. Hey Bioman, the Titan drives like a tank.

  14. Quote Originally Posted by bioman
    I'll be in the market for a truck soon and GM is pretty far down my list of possibilities.

    Don't get me wrong, I like a lot of things about GM trucks..all that power, Bose systems et cetera but I've driven nearly all of the major 4x4's over the years as a field biologist and the GMs just don't last. Fords, IMO, are lot better and Toyota/Nissan (excpet the Frontiers of the last 6 years suck) are even better than that in terms of reliability, cost to operate and durability.

    My top three 4x4 picks to look into..Nissan Titan, Toyota Tundra and Ford F150.

    Personally, I think most of that "Buy American" car mentality died when most of the Big 3 put all there major operations in Mexico. Those ****ers have no right to question my patriotism if they're not going to follow through.
    By "those ****ers" I hope you mean the factory workers union, not the manufacturers themselves.

  15. and i hope you people know only the first few units of a foreing car are made in japan. the rest are built in the USA, so technically the "buy American" argument doesn't fully work.

  16. Quote Originally Posted by bioman
    Personally, I think most of that "Buy American" car mentality died when most of the Big 3 put all there major operations in Mexico. Those ****ers have no right to question my patriotism if they're not going to follow through.
    Bingo, and my sentiments exactly!

  17. Personally, I think most of that "Buy American" car mentality died when most of the Big 3 put all there major operations in Mexico. Those ****ers have no right to question my patriotism if they're not going to follow through.
    Buy American any more is just an abstract statement. Many of the transplant auto companies build domestically now as well as many of the domestic auto build outside the country. It is all a mish mosh these days. The Big Three have lived fat dumb and happy for many years squeezing suppliers and consumers for every last cent. In times of little competition they got away with it. Times have changed and now they are in trouble. If the Big Three dont improve processes, cut ridiculous labor costs and improve quality they are doomed.

  18. I am looking for a new car in the next few months as well and I would look at say a Caddy or a Saab but all of those cars are out of my price range. They said that they were going to lower the prices. Well they lowered it on everything but Hummer and Saab. and the Caddy only a grand or two. They lowered them on Chevy, GMC, Pontiac and Saturn which none of them I would buy.

  19. Quote Originally Posted by Danl4560
    More like, when will people like you realize American cars don't break down in 2-3 years?
    Maybe when its not the truth anymore? For right now its DEFINITELY true. American cars are junk as a whole. There are a few great performers out there, but average the whole and its BAD.

    Couple the bad reliability with the poor quality materials, options that arrive 2 to 3 years behind every other brand, and now suffering resale value because of this employee pricing for everyone BS; then you've got car companies in real trouble.

    I think nearly everyone on GMs board needs to be fired; they need to hire in FRESH and AMBITIOUS people who are under 40 years old with great educations. GM is so out of touch its very funny. Ford is actually doing something right. All the plant closings and job cuts is a great first step. While it sucks so many people lose their jobs; they shouldnt have had half of them in the first place (And nowhere NEAR the paygrade they were working for either -- thank the unions for that too).

    There is no BIG THREE anymore either. Ford is 3rd behind Toyota in total vehicle sales, and Chrysler is now part of DaimlerChrysler; no longer an American company. Even tho DC's cars still arent great (Mercedes makes some really shoddy cars themselves in the reliability arena: S and E class both on Consumer Reports most unreliable vehicles list), they have a GREAT lineup through Dodge and Chrysler. I'm totally digging the SRT8 line myself and I'm contemplating a 300 SRT-8

  20. GM's situation is a product of their own design and ****ty management. Ive owned over 11 cars since I started driving, and the best out of the lot is my 1995 Honda Accord. I'm not a professional mechanic, but I do a lot of my own work on my vehicles - and my Accord and my girlfriend's 1990 Accord are a pleasure to work on and rarely need anything more than routine maitenence.

    My 92 Ford Explorer, OTOH, was a royal pain in the ass and cost me more in repair costs then every car I owned combined over the 7 years that I drove it. On top of that, it rusted to hell despite all my attempts to repair the body. I really liked the truck, and the engine was rock-solid, but the whole car fell apart around it.

    When will US car manufacturers learn that we are sick of buying cars that break down after 2-3 years?
    Precisely. I almost think that, in the 1980's, US auto manufacturers had this cockamamie idea to design cars to fail before their time, in order to generate more sales, and they just cant get out of that slump.

    The new cars from Chrysler seem to be doing well - it seems to me their quality has come up as a result of merging with Daimler. Their asthetics sure as hell have...I'd love a Dodge Magnum!

    Maybe GM should merge with Toyota

    BV

  21. Quote Originally Posted by Danl4560
    You have a source for that or just hearsay?

    just a guess.. no true theory behind it other than both companies did piss poor and they wont be able to play in the car game and keep prices down... sooooo

    get ready for the GMFORD Motor Co

  22. I cant see them doing that, the competition has been so fierce between those two companies. Maybe GM-Hyundai and Ford-Kia

    BV

  23. Quote Originally Posted by BigVrunga
    I cant see them doing that, the competition has been so fierce between those two companies. Maybe GM-Hyundai and Ford-Kia

    BV
    Ford is usually coupled with Hyundai, and GM with Geo.

  24. Quote Originally Posted by Bean
    Couple the bad reliability with the poor quality materials, options that arrive 2 to 3 years behind every other brand,
    Examples? Im curious as to why you believe American cars are 2-3 years behind. It sounds to me like your just spewing rhetoric you heard from someone else.

  25. Quote Originally Posted by kwyckemynd00
    When they stop breaking down after 2-3 yrs.

    I'm surrounded by mechanics in my friends and family, and they all have their differing opinions.

    The one good Ford we've owned was an old ford station wagon, and it had a mitsubish motor in it

    My mom's chevy camaro and dad's chevy 2500 have had problems since day one. My aunt/uncle had an explorer that they had to replace and engine and a transmission within 6 months. My dad had an old piece mitsu truck a few years back, and that thing ran for ages. Unlike his ranger, which was much more reliable than his 2500, but still had its own set of issues.

    The only American made car I'd buy is cadillac. The rest of them are made in mexico anyway. Many of the top foreign car manufacturers have their main factories here, in the US...they got it right, why don't the US companies like ford/chevy get it?

    Now, dont' get me wrong, this is a pretty recent development. You still see 40yr old chevy trucks runnin' strong all the time.
    I will admit, any mechanic knows anything foreign or domestic built in mexico is crap. but the consumer dont mean anything. what do you look for in a car? is it the same as what consumer reorts looks for. I dont care how many cup holders my grand prix has. does it a good drivetrain?
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