OT: Auto Sales Pain Summary for March

[Diego Mamani]

[quote=DWCAP]Considering China’s current track record I wouldnt be too worried about China taking over everything like they seem to be planning. Their food sucks, their drugs suck, their toys suck, their high tech sucks or is just a ripoff that would be sued so fast it wouldnt be funny. China is good at making lots of cheap stuff that is disposable. Itll break in a year, but who cares it was dirt cheap and served its purpose. This will not bode will for a large purchase like a car, not matter how ambishious their buisness men are.[/quote]

What you wrote was also true of Japan and Japanese products in the 1950s and 1960s. We know how that turned out in the end…

[Eugene]

[quote]Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years[/quote]

Translation:

By 2012 they intend to start a factory that will produce low-quality cheap clones of Chevy Volt and sell them to third world countries (and quite generally, in every country where GM can’t sue them for patent infringement).

[Eugene]

[quote]Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years[/quote]

Translation:

By 2012 they intend to start a factory that will produce low-quality cheap clones of Chevy Volt and sell them to third world countries (and quite generally, in every country where GM can’t sue them for patent infringement).

[Eugene]

[quote]Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years[/quote]

Translation:

By 2012 they intend to start a factory that will produce low-quality cheap clones of Chevy Volt and sell them to third world countries (and quite generally, in every country where GM can’t sue them for patent infringement).

[Eugene]

[quote]Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years[/quote]

Translation:

By 2012 they intend to start a factory that will produce low-quality cheap clones of Chevy Volt and sell them to third world countries (and quite generally, in every country where GM can’t sue them for patent infringement).

[Eugene]

[quote]Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years[/quote]

Translation:

By 2012 they intend to start a factory that will produce low-quality cheap clones of Chevy Volt and sell them to third world countries (and quite generally, in every country where GM can’t sue them for patent infringement).

[Coronita]

….Meanwhile…

GMAC resume subprime lending….Move along folks. Those past 3-4 years of subprime lending weren’t really an issue, no big deal

…Oh boy…Deja Vu…We’re so messed up, it’s beyond comprehension…

http://www.autoblog.com/2009/04/02/gmac-resumes-subprime-lending/

GMAC has loosened the purse strings, with General Motors’ finance arm allocating $6 billion for auto loans for the next 60 days. The 60 day mark is critical to GM, as it is the government’s drop-dead date to satisfy Auto Task Force viability requirements. The cash infusion will help struggling dealers with dried up credit channels, but it will also be used to finance cars and trucks to people with credit scores under 620. The under 620 crowd is referred to as subprime, a term that is now synonymous with the words “bailout” and “recession.”

Back in October, GMAC restricted lending to customers with scores over 700, and when the U.S. government provided a $6 billion in loans, the minimum score was lowered to 620. GMAC insists that the under 620 score would be approved sparingly, and buyers would still be required to qualify for financing. NADA chairman John McEleney says that the lowered credit score minimum could result in the ability to help 30-35% more Americans get into a new car or truck. And while overplaying the subprime card can lead to more trouble, at this point, the General clearly has to do something to get metal moving again.

[Coronita]

….Meanwhile…

GMAC resume subprime lending….Move along folks. Those past 3-4 years of subprime lending weren’t really an issue, no big deal

…Oh boy…Deja Vu…We’re so messed up, it’s beyond comprehension…

http://www.autoblog.com/2009/04/02/gmac-resumes-subprime-lending/

GMAC has loosened the purse strings, with General Motors’ finance arm allocating $6 billion for auto loans for the next 60 days. The 60 day mark is critical to GM, as it is the government’s drop-dead date to satisfy Auto Task Force viability requirements. The cash infusion will help struggling dealers with dried up credit channels, but it will also be used to finance cars and trucks to people with credit scores under 620. The under 620 crowd is referred to as subprime, a term that is now synonymous with the words “bailout” and “recession.”

Back in October, GMAC restricted lending to customers with scores over 700, and when the U.S. government provided a $6 billion in loans, the minimum score was lowered to 620. GMAC insists that the under 620 score would be approved sparingly, and buyers would still be required to qualify for financing. NADA chairman John McEleney says that the lowered credit score minimum could result in the ability to help 30-35% more Americans get into a new car or truck. And while overplaying the subprime card can lead to more trouble, at this point, the General clearly has to do something to get metal moving again.

[Coronita]

….Meanwhile…

GMAC resume subprime lending….Move along folks. Those past 3-4 years of subprime lending weren’t really an issue, no big deal

…Oh boy…Deja Vu…We’re so messed up, it’s beyond comprehension…

http://www.autoblog.com/2009/04/02/gmac-resumes-subprime-lending/

GMAC has loosened the purse strings, with General Motors’ finance arm allocating $6 billion for auto loans for the next 60 days. The 60 day mark is critical to GM, as it is the government’s drop-dead date to satisfy Auto Task Force viability requirements. The cash infusion will help struggling dealers with dried up credit channels, but it will also be used to finance cars and trucks to people with credit scores under 620. The under 620 crowd is referred to as subprime, a term that is now synonymous with the words “bailout” and “recession.”

Back in October, GMAC restricted lending to customers with scores over 700, and when the U.S. government provided a $6 billion in loans, the minimum score was lowered to 620. GMAC insists that the under 620 score would be approved sparingly, and buyers would still be required to qualify for financing. NADA chairman John McEleney says that the lowered credit score minimum could result in the ability to help 30-35% more Americans get into a new car or truck. And while overplaying the subprime card can lead to more trouble, at this point, the General clearly has to do something to get metal moving again.

[Coronita]

….Meanwhile…

GMAC resume subprime lending….Move along folks. Those past 3-4 years of subprime lending weren’t really an issue, no big deal

…Oh boy…Deja Vu…We’re so messed up, it’s beyond comprehension…

http://www.autoblog.com/2009/04/02/gmac-resumes-subprime-lending/

GMAC has loosened the purse strings, with General Motors’ finance arm allocating $6 billion for auto loans for the next 60 days. The 60 day mark is critical to GM, as it is the government’s drop-dead date to satisfy Auto Task Force viability requirements. The cash infusion will help struggling dealers with dried up credit channels, but it will also be used to finance cars and trucks to people with credit scores under 620. The under 620 crowd is referred to as subprime, a term that is now synonymous with the words “bailout” and “recession.”

Back in October, GMAC restricted lending to customers with scores over 700, and when the U.S. government provided a $6 billion in loans, the minimum score was lowered to 620. GMAC insists that the under 620 score would be approved sparingly, and buyers would still be required to qualify for financing. NADA chairman John McEleney says that the lowered credit score minimum could result in the ability to help 30-35% more Americans get into a new car or truck. And while overplaying the subprime card can lead to more trouble, at this point, the General clearly has to do something to get metal moving again.

[Coronita]

….Meanwhile…

GMAC resume subprime lending….Move along folks. Those past 3-4 years of subprime lending weren’t really an issue, no big deal

…Oh boy…Deja Vu…We’re so messed up, it’s beyond comprehension…

http://www.autoblog.com/2009/04/02/gmac-resumes-subprime-lending/

GMAC has loosened the purse strings, with General Motors’ finance arm allocating $6 billion for auto loans for the next 60 days. The 60 day mark is critical to GM, as it is the government’s drop-dead date to satisfy Auto Task Force viability requirements. The cash infusion will help struggling dealers with dried up credit channels, but it will also be used to finance cars and trucks to people with credit scores under 620. The under 620 crowd is referred to as subprime, a term that is now synonymous with the words “bailout” and “recession.”

Back in October, GMAC restricted lending to customers with scores over 700, and when the U.S. government provided a $6 billion in loans, the minimum score was lowered to 620. GMAC insists that the under 620 score would be approved sparingly, and buyers would still be required to qualify for financing. NADA chairman John McEleney says that the lowered credit score minimum could result in the ability to help 30-35% more Americans get into a new car or truck. And while overplaying the subprime card can lead to more trouble, at this point, the General clearly has to do something to get metal moving again.

[svelte]

[quote=esmith]Immune companies: Kia, Hyundai, Subaru.

Curious.[/quote]

Not immune, really. Just sending huge of their inventory to rental fleets. At least in the case of Hyundai and Kia.

http://www.autoblog.com/2009/04/13/hyundai-and-kia-use-fleet-sales-to-boost-numbers/

[svelte]

[quote=esmith]Immune companies: Kia, Hyundai, Subaru.

Curious.[/quote]

Not immune, really. Just sending huge of their inventory to rental fleets. At least in the case of Hyundai and Kia.

http://www.autoblog.com/2009/04/13/hyundai-and-kia-use-fleet-sales-to-boost-numbers/

[svelte]

[quote=esmith]Immune companies: Kia, Hyundai, Subaru.

Curious.[/quote]

Not immune, really. Just sending huge of their inventory to rental fleets. At least in the case of Hyundai and Kia.

http://www.autoblog.com/2009/04/13/hyundai-and-kia-use-fleet-sales-to-boost-numbers/

[svelte]

[quote=esmith]Immune companies: Kia, Hyundai, Subaru.

Curious.[/quote]

Not immune, really. Just sending huge of their inventory to rental fleets. At least in the case of Hyundai and Kia.

http://www.autoblog.com/2009/04/13/hyundai-and-kia-use-fleet-sales-to-boost-numbers/

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