Poor June sales forced Bear Stearns & Co. to drop its rating on General Motors Corp. shares to “peer perform,” a step above “sell.” GM attributed poor sales to deep incentives on Japanese cars and high fuel costs.
GM shares closed at 36.76, down 1.22, today. According to The Detroit News, analyst Rod Lache wrote that GM’s sales this year may be 2.8 million vehicles, below GM’s 3 million car target.
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07/05, 5:45 PM
posted by:
S-60-driver
Focus more on cars and the MPG like Toyota and Honda, not lame Yukon Denalis, Acadias, Silverados, etc etc, you motha effin’ dumb upstairs GM executive morons!!!
07/05, 6:10 PM
posted by:
1c3d0g
Damn right! AND BRING SOME G-D DAMNED DIESELS TO THE U.S., FOR CHRIST’S SAKE! Do you hear me now, GM? Do what you have to do, partner with Honda, VW etc., I don’t care. Just make it happen.
07/05, 6:28 PM
posted by:
Stuart
Kill buick, saturn and GMC or hummer while you at it
07/05, 6:41 PM
posted by:
TOZO
Bear Stearns is the real moron. GM shares have been doing great. Its price per share is the highest in years. It took a little dip today because of Bear Sterns (BS), but 2 months ago, the price per share was under $30. Now, it’s around $37.
07/05, 7:14 PM
posted by:
AMGoff
You beat me to it TOZO. Oh Stuart… I can understand GMC, I can half understand Buick from your point of view, but Saturn?
07/05, 9:00 PM
posted by:
MikeFX
Glad someone woke up the numbnut first posters up there! Buick is on fire in China, and turning out some decent stuff here as well. Saturn is booming once again, especially with Consumer Reports recently saying the Outlook was the best crossover/SUV they have seen in a long time. Yeah I know we all think CR is a load of crap, but they get cars sold, and that’s what GM needs right now. Chevy has the hot new Mallibu out soon, and Cadillac is going to do well with the new CTS. And to think all this happened in what seems to be less than two years time. Good job GM.
MPG? Yeah they know that, and sadly it’s going to kill off the Camaro convertible and other fun stuff. They’ll add some hybrids and diesels in due time. Ask Toyota about the MPG on their new Highlander or the new Scion xB? Went from decent to dismal!
07/05, 9:05 PM
posted by:
0GSharK6
All new MPGs are going dismal. EPA ratings have gotten a lot stricter. Silverados that stickered for 16/20 in 2007 now sticker for 14/19, and Impalas that stickered for 21/31 in 2007 now sticker for 18/29. Even a 4-banger Malibu now stickers for 21/31 instead of the 24/34 of yesteryear.
07/05, 9:15 PM
posted by:
S-60-driver
MikeFX…… yes, Highlander and Scion xB’s MPGs went down, but STILL higher than any of these crappy trucks from GM. I’d take 18/26 Highlander over possible 15/20 for 2008 model year Acadia.
07/05, 9:19 PM
posted by:
Piablo
MikeFX – your comments fall on deaf ears here. The anti vs. pro GM debate here is as strong as the liberals vs conservatives. When the Chevy Volt comes out, it still won’t be enough. What I find humorous are the ones who feel trucks should basically be abolished. Rid the world of trucks. Or maybe just stop making Hummers. The mere mention of the brand sends them into a fit. GM should stop making trucks so the beloved Toyota can gobble up the entire market.
The fact of the matter is, GM and Chrysler shares can be huge wins. Sure Chrysler was just given a junk rating, but there is no better high risk high return opportunity than that. With possible brands being up for sale, the importing of the new, and the reinventing of others, I would be paying attention this next year. Both companies could be doing very well in the next couple years.
07/05, 9:42 PM
posted by:
Piablo
Cuz a Highlander and an Acadia are in the same class?? $20k vs $40k??? How about the Equinox? V6 Highlander, 19/25 vs the V6 Equinox, 19/26. I can go on with the comparisons if we want to knit pick the mpg here and there… they are all similar.
07/05, 9:45 PM
posted by:
GMCsyclone#478
TOZO/AMGoff/MikeFX, you all made good points. sounds to me like Bear Stearns & Co. is acting a bit bear-ish (how appropriately named). gm has several important passenger car releases due soon which will undoubtedly drive sales to at least where they’re expected to be, while improving their image and consequently their value.
in my opinion gm has made tremendous progress but it annoys me that they show their new products so far in advance of the release. it gives the sense that they are struggling or dealing with problems, despite having closed the quality gap with the imports.
07/05, 9:59 PM
posted by:
LP640
ha ha GM are a bunch of dumb****s its a miracle that they still exist to this day. they should just go on a murder-suicide killing spree and just wipe each other out.
07/05, 10:17 PM
posted by:
S-60-driver
Piablo– i wasnt doing a comparsion. Btw, there is no such thing as $20K Highlander. Im talking about 2008 model year, they are like 27 grand to 34 grand. MikeFX was talking about the revised 2008 MPG rating.
It won’t be 19/26 for Chevy Equinox in 2008. Im sure itll drop to 17/24 or something. STILL less than heavier Highlander!! Front wheel drive comparsion, Highlander is rated at 18/26 for 2008. Same goes for Ford Edge. Another heavier CUV.
Its a joke for GM to have a lighter Equinox to score low in MPG.
07/05, 11:05 PM
posted by:
bauer100
“GM attributed poor sales to deep incentives on Japanese cars and high fuel costs”
Why are the Japanese putting heavy discounts on their cars? I wouldnt think they had to.
07/06, 12:38 AM
posted by:
AMGoff
“ha ha GM are a bunch of dumb****s its a miracle that they still exist to this day. they should just go on a murder-suicide killing spree and just wipe each other out.”
Because that comment really adds something to the conversation. It’s amazing you still exist to this day.
GMCsyclone, I agree with regard to their advanced previews. It would bode much better for them to keep quiet about new releases and just wow us when they are ready for production.
Piablo, agreed. It does not matter what Detroit produces, it will never be good enough for some people. The General has made some great strides as of late, and if their new and upcoming products were badged as Toyondas they would all be weak in the knees over them.
The General has made a great effort in differentiating their brands, and I for one feel Lutz is going in the right direction with regard to the respective images each brand is going after. The only unnecessary overlap I see is GMC/Chevy. I’ve always said they either need to drop GMC or drop Chevy trucks and make GMC the General’s truck division.
Furthermore I don’t understand why a lot of people constantly single out Buick. It is America’s oldest brand and was the cornerstone division of General Motors. It’s rich heritage deserves some respect. GM had a chance to axe Buick but they chose Oldsmobile instead. Buick holds a vital place in GM’s lineup as the affordable, working man’s lux brand. Our ‘04 Regal GS is the nicest car I’ve ever owned. Needless to say, they’ve made a great first step with the Enclave. Out of any brand from any domestic manufacturer, Buick is in the place to take on the same market as Lexus.
07/06, 12:49 AM
posted by:
04focus
When they say “peer perform” who do they consider peers? If it’s Ford and Chrysler, I’d be very worried…. on the other hand if they think that GM is going to keep up with Toyonda and MBMVW, that’s not a bad thing…
07/06, 1:50 AM
posted by:
infamouz9325
american cars are garbage with equally sorry interiors and yes im even including the vette the only exception is the new crossover buick i must admit that car is beautifull. but yea let the hating on me begin. i dont care if the vette is a tremondous bang for the buck its still a bucket with an oversized engine
07/06, 4:41 AM
posted by:
Fletch
infamouz9325, your tired argument is almost as poor as your punctuation.
This industry is cyclic and it’s only a matter of time before one of the former “Big 3″ rises to profitability again. GM is positioning itself succeed.
07/06, 8:03 AM
posted by:
Z06ified
infamouz – anytime you want to race my “bucket”, let me know. Road course, autocross, drag strip – your call. You better bring some serious firepower (something on the order of a Carrera GT or better) or prepare to be put in your place.
07/06, 9:25 AM
posted by:
Piablo
S60 Driver – I’m gonna have to eat my words… I checked out the new 08 Highlander, and that is quite a different vehicle, much bigger. It is indeed an Acadia/Outlook competitor. I didn’t realise it was redesigned for ‘08. In all fairness though, the Outlook is rated at 18/26 for FWD and 17/24 for AWD. This is on par with what Toyota projects. So we’re comparing ‘07 Outlook specs with projected Highlander specs. We’ll curb this until we get both actuals.
In general comparisons across the board however, the specs are very similar. Cobalt and Scion Tc? Silverado/Tahoe and Tundra/Sequoia. Avalon and Impala. A 1mpg difference at the end of a 20,000 mile year is about $100. I’m not going to fault either company over a 1mpg difference.
07/06, 9:40 AM
posted by:
infamouz9325
-fletch: With the recent products to come out of GM, they still have a fighting change. Ford is going bankrupt with complete retards at the wheel, and the end for chrysler has already begun with the sale of daimler to cerberus. kiss your big three good bye.
-z06ified: im above getting into stupid little arguments over the internet but i never said it was a slow bucket, it’s a fast bucket but still a bucket.
07/06, 10:14 AM
posted by:
Fletch
Infamouz: Well put, much better argument.
By the way, looking back at my post, I can’t put together a complete sentence either, it was early…
07/06, 10:45 AM
posted by:
AMGoff
infamouz, you’re logic is backwards as usual. Ford is in the most dire position right now and will continue to be so as long as the Ford family maintains their controlling stake in the company. Either way, in ten years Ford will cease to be the company it has been for the past hundred years. At this point the should cut their losses, focus their car development on Lincoln and Volvo, and turn Ford into a truck manufacturer – as that’s the only good thing Ford really does.
Nevertheless don’t count Chrysler out just yet. They’ve been declared dead many times long before you came up with your bright idea. Unless you are somehow a board member of Cerberus you have no idea what their intentions are for the company. If anything, they are in a uniquely strong position right now by having new owners (who likes to make money) and by having the freedom of being a private company. I’ll be sure to provide the egg that will end up on your face.
07/06, 12:49 PM
posted by:
MikeFX
So we can all agree that GM has some decent cars that are getting mileage on par with their Japanese rivals (in the same size class). My main point was that although GM still has a ways to go with their product, they deserve some props for getting themselves on the road to recovery with some decent vehicles. I would still not buy a GM car, but will no longer wince when my brother comes home with a new GM whatever.
07/06, 3:12 PM
posted by:
Htay5500
GM does have some decent vehicles like the silverado and the GMT900 platforms, as well as their performance breeds (miss their old ones), but there cars arent as close as our accord and our 10 yr old crv, and to turn away from.
07/06, 3:18 PM
posted by:
infamouz9325
Why thank you fletch and AMGoff ford is giving the rest of the world the good stuff but the market that matters the most is the american market. If you havent noticed the american market has all the boring car. Although i will give you the cerberus argument. They like money and will probably make money but at the expense of plant closures and massive layoffs i havent given up hope for them just yet. but thank you for making me use my analytical and critical thinking skills.
07/06, 4:37 PM
posted by:
jackjimturkey
S-60:
Those denalis, etc. are profitable. They won’t get rid of them.
GM sould sell the zafira here
07/07, 2:45 AM
posted by:
bauer100
i think the Japanese get a pass in the mpg department, almost free advertisement (and its working). i wish GM would be more aggressive advertising their mpg ratings. i wonder just how many “regular” folks know there isnt much difference on alot of the vehicles between Toyota and GM.
07/09, 7:17 AM
posted by:
Get Real
Can we raid the nursing homes of the retired GM executives who gave us the crap 70’s-90’s cars ????
We should pull them out and beat them for putting GM into this position.
Today nobody trusts GM will provide a car that will last in exchange for their giving GM $25,000.
07/11, 11:07 AM
posted by:
jackjimturkey
GetReal:
Let’s raid the nursing homes of the people who approved the crappy 70s and 80s SMALL cars. You build a good small car, you have a customer for life. You build a crappy small car …