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)
Good point. The Asian cars are built better and last longer with fewer breakdowns. However, the earthquake and tsunami did a number on their manufacturing
How Ironic. Hitler’s “Peoples Car” vs. Obama’s “Peoples Car.”
Government is thier biggest customer??? souunds like a round robin scheme.
Through November, Chevy sold over 35% of its production to fleets
We noticed that our city's utility department is driving new Chevy trucks.
they stiff their lenders, too. Hard to beat that "edge."
GM did go bankrupt and no longer exists. It did not re-emerge. A new company was capitalized by the government to buy votes and is using the GM name. Barky's administration has carefully studied the mistakes of the Japanese and has set out to make every one of them.
Unless, of course, the gov't paid an inflated price for the vehicles in order to shovel some more taxpayer money GM's way.....?
...don't it make sense that if the "news" was really good, the stock should be going out of sight....??...
don’t know how their financial situation is, but they are spending money and updating plants like crazy.... hell, they are re-opening a previously closed one... I have been bidding their work non stop since august....
The single best reason NOT to buy a Government Motors Car:
Every GM car sold enrichens the UAW labor union.
Obama has turned GM into a multi-billion dollar pipeline to funnel taxpayer money to the UAW.
Exactly how much taxpayer money per car is Obama giving GM as a subsidy?
How many GM cars are being forced on government agencies by the Obama administration to pump up sales?
Exactly. Meanwhile, too many people who should know better pretend nothing has changed since The Marxist Onada usurped the presidency.
The Chinese people say “Xie xie!” to their friends the American taxpayers for helping to keep the price of GM cars lower in China!
The new name is General Motors Company but you’d think it was General Miracle Company.
Total OBAMA Bullsh*t
FUGM, FUUAW, and FUBO
I will never buy a Goverment Motors vehicle.
YES!!! GO GM, Ford and Chrysler!! Take your liberal Toyotas, Hondas and Korean crap and stick it!