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Surprise announcement from GM
The announcement this morning is that GM has posted the biggest annual loss ever for a car manufacturer. Now let's be clear about this, it has a lot to do with accounting issues, tax credits, and the like, but the company's underlying weaknesses are undeniable. GM's dependence on SUVs for profits certainly hasn't helped and has contributed to the company losing market share to Toyota. GM isn't alone in the SUV situation, but Toyota did a much better job of adapting to changes emerging in world markets and developing its offering around those trends. Anybody who thinks gas will ever be cheap again (short of a world-wide depression) isn't paying attention.
Surprise announcement from GM
February 12, 2008
The announcement this morning is that GM has posted the biggest annual loss ever for a car manufacturer. Now let's be clear about this, it has a lot to do with accounting issues, tax credits, and the like, but the company's underlying weaknesses are undeniable. GM's dependence on SUVs for profits certainly hasn't helped and has contributed to the company losing market share to Toyota. GM isn't alone in the SUV situation, but Toyota did a much better job of adapting to changes emerging in world markets and developing its offering around those trends. Anybody who thinks gas will ever be cheap again (short of a world-wide depression) isn't paying attention.
Posted by Peter Welander on February 12, 2008 | Comments (0)
Industries: Process Control
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