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Gm Closing 5 Plants - 14,000 Jobs Gone.

RSchneider

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Jumping in at the end but I still think GM hasn't learned. I see SUVs on the road but I don't think that consumers suddenly hate cars. They have just grown tired of GM trying to tell us what we want instead of asking. I also think GM closing plants in the US is less about learning and thinning the herd and more about trying to get cheap labor in other countries. I'm usually not in favor of tariffs but GM and Tesla need giant tariffs to encourage them to come back home. I don't want to get into talks about unions and such. All that can be worked out and GM execs who make millions to lose money garner no sympathy from me. Let them all take paycuts just start at the top.
Read the SEC filings from the last 5 years. GM is selling lots of assets and business. If you think the US is bad, come here to Europe. They are all about gone. Same for South America. They are praying that China will work but the 800lb Gorilla (VAG) is going to kill them. GM is a shell of themselves when it comes to their global operations as Toyota and VAG get bigger. Ford is treading water. I predict GM will be forced into a partnership with another brand soon. If not it’ll be a US/Canada brand only.

Plus, the Cruze was a failed Daewoo that they purchased the design from. We all know how much we loved Daewoos. It’s this type of stuff GM does that will kill the company.
 

mkiker2089

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Read the SEC filings from the last 5 years. GM is selling lots of assets and business. If you think the US is bad, come here to Europe. They are all about gone. Same for South America. They are praying that China will work but the 800lb Gorilla (VAG) is going to kill them. GM is a shell of themselves when it comes to their global operations as Toyota and VAG get bigger. Ford is treading water. I predict GM will be forced into a partnership with another brand soon. If not it’ll be a US/Canada brand only.

Plus, the Cruze was a failed Daewoo that they purchased the design from. We all know how much we loved Daewoos. It’s this type of stuff GM does that will kill the company.
And the CEO is still a millionaire. It's just like when they had the bailout and Congress had to explain that using private jets to beg for money was a bad idea. Trump needs to put a hurt on GM and let them evolve or fold.
 

RSchneider

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I'm staring at a headline on a news feed right now that says, "Ford to cut 7,000 jobs by end of August".
That’s why Ford is treading water at the moment. Most of their job cuts have been in Europe. Typically, we never hear of that in the US. Just like we never heard about GM’s mass exodus out of Europe and South America. GM even shut down the Australian plants and engineering/R&D centers and now just imports from China.

In Europe GM only sells Cadillac and Corvette. They barely sell those.

People that I know that work or Worked for GM, complain that the management needs new blood as it’s full of old guys just working to retirement. They hit that magic number (age and years of service) and they will leave the sinking ship in their million dollar yacht.
 

Ty

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I'm staring at a headline on a news feed right now that says, "Ford to cut 7,000 jobs by end of August".
That's not an accurate headline though. Reading through the article, most of those jobs were previously cut and there are about 700-800 jobs that are actually going to be cut. Ford is also hiring in other locations. I haven't kept up on the GM side as well but it seems both are cutting the production of low-profit vehicles to concentrate on the higher margin SUV/Truck area... While, at the same time, ramping up production (or at least engineering) of electric vehicles. That's not such a bad thing to be doing. Even Tesla is finding out how hard it is to sell sedans. I'm hoping the Model Y will sell better. Yes, they are selling a bunch of the Model X but it seems demand is drying up a bit.
 

Elio Amazed

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That's not an accurate headline though. Reading through the article, most of those jobs were previously cut and there are about 700-800 jobs that are actually going to be cut. Ford is also hiring in other locations. I haven't kept up on the GM side as well but it seems both are cutting the production of low-profit vehicles to concentrate on the higher margin SUV/Truck area... While, at the same time, ramping up production (or at least engineering) of electric vehicles. That's not such a bad thing to be doing. Even Tesla is finding out how hard it is to sell sedans. I'm hoping the Model Y will sell better. Yes, they are selling a bunch of the Model X but it seems demand is drying up a bit.
I can understand the shift in the market. I finally switched to having a couple of '03 Dodge caravans in mint condition from having sedans and vans and I couldn't be happier. I can haul almost anything in the Caravans including seven people when I have all the seats in. The gas mileage sucks but I don't go anywhere anyway and it looks like high-gas-price phobia isn't a major factor these days. Produce an good looking SUV with great gas mileage or m/Kw and the world will beat a path.
 
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