Skip to comments.General Motors re-emerges as world's top vehicle-maker two years after near bankruptcy
Posted on 01/20/2012 5:16:14 AM PST by equaviator
General Motors (GM) has once again become the world's biggest vehicle maker, which marks dramatic turnaround for a firm that was facing bankruptcy two years ago.
GM said it sales rose by 7.6 percent to over nine million vehicles in 2011.
GM CEO Dan Akerson said strong sales ensured that the company remained profitable and continued to invest in new products.
"You're not going to achieve the financial goals we want to achieve and have declining market share or declining numbers of units sold," The Telegraph quoted Akerson, as saying.
GM's rival Volkswagen however, claimed itself as the world's top vehicle maker.
According to the Wall Street Journal, Volkswagen said that GM's figures were boosted by adding sales of its Chinese partners.
Volkswagen said it sold 8.1 million vehicles excluding truck makers MAN and Scania in which it has majority stakes.
Analysts said the numbers could be interpreted in different ways and added that the decision on whether or not to include sales figures of subsidiaries would depend on how involved the vehicle maker was in their operations.
"If GM have added figures of companies in China, which they are pretty much a part of in terms of day-to-day running, then there is nothing wrong in it," a Frost and Sullivan analyst said.
"But if they have also included numbers of manufacturers where they just have a passive investment then it is wrong," he added.
GM emerged from bankruptcy in 2009 after receiving a 52 billion dollar taxpayer-funded bailout. (ANI)
they don’t pay taxes, borrow huge amount of money for zero interests, huge subsides from government and government buying GM cars as well.
How much of those were fleet sales....?
As a low wage earning taxpayer, I don’t like being forced to support unionized companies in the north east that can’t survive due to their corruption and bad decisions. I will never buy any GM products ever, and will actively encourage everyone to do the same.
And it only took the worst earthquake in a century to make it happen.
Whoops, my bad. The above is from last year. I’ll see what I can scare up for 2011.
Precisely. I remember when GM ran an ad where the GM CEO proclaimed that the company had repaid the gov’t stimulus money with interest. Turned out to be a baldfaced lie. Just last year it was proclaiming the gov’t mandated car that no one needs or wants—the Volt—was sales success. It was a lie until the dang things started burning up. Then it became a criminal and tragic lie.
Government Motors = Century Motors (Atlas Shrugged)
Dems are getting ready to propose that right now ...
< .crickets chirping ... >
Occupy General Motors anyone?
Wow - from your link:
“Through November, Chevy sold over 35% of its production to fleets”
I think the article is a recap of 2010 sales....probably even more fleet sales this year.
Fleet sales tend to be low margin, too.
Just like handing our TAX DOLLARS to friends of the Progressives, for Green Energy, and then having them send their contributions out of those Tax Dollars BACK TO THE DNC.
Is this a great system or what?
Every GM or Chrysler/Fiat you see is MORE THAN LIKELY a Democrat voter, or they don't care about buying from Obama Motors.
BTW, my first link is a year old. That second link I found is up to date :-)
Girlfriend bought a new 2011 Kia Optima last weekend - made in the non-union Kia plant 10 miles away.
Never started to imagine possibly remotely considering a GM car.... never will.
A Volkswagen is a great car when it’s running
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