GM at this point should be GMC, Corvette, and Cadillac. These make make sense. There are customers for them and the quality of the cars is nearly that of Japanese and German autos. Cadillac particularly has made tremendous strides. It’s no Mercedes Benz or even BMW, but it has gotten consistently better over the last 10 years. The bumpers don’t fall off anymore. (Remember the Coupe Deville?)
For the rest of the company not much can be said. Chevrolet should be a dead nameplate. The make doesn’t make one vehicle Americans want and hasn’t for a couple of decades.
But those Chevy plants are full of UAW workers who hold a lot of political sway. It’s why their pensions were bailed out by the taxpayers back in 2009.
Many people think the GM implosion just came out of nowhere. It didn’t. For years prior to 2009 analysts had been calling GM a healthcare and pension company which just happened to make “cars.” When the financial crash came, the unions seized on the opportunity to get the American taxpayers to pay for their overly generous pensions which were going to go bust financial meltdown or not.
When GM went bust the bond holders should have been paid first in a bankruptcy. Then the valuable bits should have been sold off. That is what would have been best for the economy. Now we’d have a leaner and much better American car industry. Instead we have terrible old Chevrolet.
And all the nonsense about “saving jobs” and the rest is just that – nonsense. One can dress it up anyway one wants but everyone outside of Michigan and Ohio (2 vital states for the President to carry in 2012) knows it was a jack, an act of political theft. GM still owes us $10 billion. (Which we’ve lost forever thanks to the Treasury selling GM stock back to the company at a steep loss.)
The government lied about GM and economic Armageddon and it’s reasons for doing what it did. It has propped silly experiments like the Volt (remember the Volt?) with nearly $200,000 in tax money sunk intoEACH INDIVIDUAL VEHICLE. And Government Motors continues to be protected it appears by this administration as the article below reports.
There’s a much better way to see the USA these days than in a Chevrolet. It’s called a Toyota Camry. And at least Camrys are made in the United States.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 25th, 2014 | John Ransom