Of more concern, are the long-term implications, as stated in the article:
But some sales trends augur poorly for the two largest U.S. automakers, which are struggling in their home market...
GM has lost more than $4 billion this year on its North American operations and Ford is also losing money.
On Tuesday, GM's debt sank deeper into junk status after Moody's Investors Service cut its rating on GM's long-term debt to B1 from Ba2.
It said the outlook was negative, citing doubts about GM's ability to push through a comprehensive restructuring, stem the erosion in its market share and regain profitability in North America.
The U.S. automakers' most lucrative vehicles are trucks -- and truck sales are falling faster than the market as a whole.
ateixeira says:
08:47 AM, 11/ 3/05
I predicted this would happen. The Summer Sales Events only pulled sales forward, i.e. people that were in the market for a GM car already bought one. By the end of the year there will have been no net sales gains.
Look for a slow November and December also. At least gas prices are coming down and when people start seeing snow again, maybe that'll help their SUVs slightly.
Plus GM has those displacement-on-demand V8s coming in the new Tahoes.
kodename says:
09:40 AM, 11/ 4/05
How bad does it have to get before GM takes some meaningfull action? The team owner,the coach , and the quarterback all need to go.
Fords a little different story, it's going to sink or swim and BIll Ford will be the person it all rides on.
DC has just as many problems I suppose, but they have been willing to take drastic action before under the current ownership, and I think they'll do whatever it takes.
GM's the one to watch, if only to see what more they will do wrong.Bill C>
herbielovebug says:
07:46 AM, 11/30/05
I think that like ford and gm That toyota's prius is failing in style but a hybrid makes sense.only one question can it do a burnout?