UPDATED: GM about to smash another record!

[Francesca_Knowl]

Great news- they're within spittin' distance of surpassing the 2004 record set for most GM recalls ever! 🙂

News report wrote:

General Motors recalls another 2.7 million vehicles

The latest action covers eight different models and brings the number of vehicles recalled this year by the nation’s largest automaker to more than 11.1 million in the United States and 12.8 million worldwide. That put GM on course to break its 2004 domestic recall record of 11.8 million vehicles, the company said.

Link to source

:B

ON EDIT UPDATE 5/22

Newest recall puts 'em over the top

News report wrote:
DETROIT (AP) — General Motors has added yet another recall to its growing list for the year.

The recall of 218,000 Chevrolet Aveo subcompact cars is the company's 29th this year, bringing the total number of recalled GM vehicles in the U.S. to around 13.8 million. That breaks GM's previous annual record of 10.75 million set in calendar year 2004.

[goducks10]

Perrysburg Dodgeboy wrote:

spoon059 wrote:

Perrysburg Dodgeboy wrote:
If the banks would have refinanced GM and Chrysler we 2 would not be having this conversation.

Don

And if GM or Chrysler had better management practices at the time they wouldn't have had the sudden and urgent need for a massive influx of capital. They would have been able to sell a product for a profit and been in possession of their own capital, thus not needing a bailout. I guess that little point doesn't factor into your argument very well though...

Miss management and the union pond scum had nothing to do with it. Fords loans came do before the Banks locked their vaults. In order for Ford to get their loans refinanced the Ford Family had to put up their personal property and stake in Ford to secure the refi. BTW two thumbs up to the Ford family!

GM and Chrysler did not have that option and it's a good thing for Chrysler GM didn't. Had GM been able to secure their refi, Cerberus Capital would have sold off the Ram and Jeep lines to the highest bidder then closed the rest.

When the Government was looking for someone to take over Chrysler Corp Nissan steeped up and said they would take Ram and Jeep only. They were told take it all or nothing so they walked away. So enter Fiat, looking to get their foot back in the USA what better way then to take over Chrysler. Unlike what some of the uninformed think it did cost Fiat money, just not up front. Fiat has pumped tons of cash into Chrysler and our plants.

No matter what Spoon and others think, had GM and Chrysler closed the effect on the US economy would have been devastating. Remember nobody was buying anything at that time. People that had jobs were so scared that they were forgoing any larger purchases. So the other car manufactures would not have picked up anything and all but the largest of GM and Chrysler's suppliers would have closed their doors. This would have then started a domino effect and spread not only though the US but the world. Think I'm full of BS? Do some research there is a reason why everyone was pushing for the bailout, even people that didn't like GM and Chrysler.

Don

Spot on. And may I add for those that say the GM/Chrysler jobs would've been snatched up by the other auto makers. How long would that have taken? So the estimated 1,000,000 workers loose their jobs and have to collect unemployment for how long before the other auto makers can hire them. 3, 6, 9 months? A year? My guess is all those workers that just lost their jobs could end up losing their house as well. It would've been a huge ripple effect. JMHO.

[Dadoffourgirls]

ib516 wrote:
Another GM recall announced today...on their 2015 HD trucks (2500/3500). I didn't read it, just scanned the headline. They are having a rough time these days.

58 Chevrolet Silverado HD and GMC Sierra HD full-size pickups from the 2015 model year because retention clips attaching the generator fuse block to the vehicle body can become loose and lead to a potential fire.

[goducks10]

ib516 wrote:
Another GM recall announced today...on their 2015 HD trucks (2500/3500). I didn't read it, just scanned the headline. They are having a rough time these days.

Guess our government is smarter than we think at creating jobs. They bailed out GM so GM could hire more mechanics to fix all the recalls.
Kind of like job security.

[ib516]

Another GM recall announced today...on their 2015 HD trucks (2500/3500). I didn't read it, just scanned the headline. They are having a rough time these days.

[nipster]

ford truck guy wrote:

Aimstr8 wrote:
And your Ford is about to break down and not be covered under warranty.

Ha ha ha ha ... Original

Isnt it time for the 6.0 Ford jokes to end?

[Perrysburg_Dodg]

Fordlover wrote:

The author says that Loan = Bailout. Interesting. Wrong, but interesting.

Both GM and Chrysler received "loans" it guys like you say tagging the word "bailout" to them. Both companies have repaid their loans, Chrysler's a lot sooner than anyone elses I might add.

If Ford is doing so well then repaying 14 billion should be no problem right? Why are they taking so long to repay it?

[Perrysburg_Dodg]

Charlie D. wrote:

Perrysburg Dodgeboy wrote:
If you want to get upset read this!!!

That is nearly 2 years old. Got anything more recent.

The "bail out" is five years old, your point is what?

Don

[Charlie_D_]

Perrysburg Dodgeboy wrote:
If you want to get upset read this!!!

That is nearly 2 years old. Got anything more recent.

[parkersdad]

No problem on all of your theories I'm just saying Ford took money as well. If you'll search the Internet they were able to keep it from being registered as a bail out by using certain political terms. Twisted how you want to like I said that Ford took money as well. Why should we pay to retool their plants? They don't even pay for their own friggin warranties. I wouldn't own a Ford or a Chevy right now. I used to like both but they have both pissed me off now.

[Francesca_Knowl]

ALL money is "wasted" unless it's spent on me.

[hone_eagle]

Gm is 18% of the market Fiat even less (way less) the other 1/2 doz manufacturers would have made up the short fall with out even breaking a sweat,the over capacity in the U.S and Canada is huge.
No jobs would of been lost , the economy would be better off with out the drag of under performing companies- its the american way.

[Perrysburg_Dodg]

spoon059 wrote:

Perrysburg Dodgeboy wrote:
If the banks would have refinanced GM and Chrysler we 2 would not be having this conversation.

Don

And if GM or Chrysler had better management practices at the time they wouldn't have had the sudden and urgent need for a massive influx of capital. They would have been able to sell a product for a profit and been in possession of their own capital, thus not needing a bailout. I guess that little point doesn't factor into your argument very well though...

Miss management and the union pond scum had nothing to do with it. Fords loans came do before the Banks locked their vaults. In order for Ford to get their loans refinanced the Ford Family had to put up their personal property and stake in Ford to secure the refi. BTW two thumbs up to the Ford family!

GM and Chrysler did not have that option and it's a good thing for Chrysler GM didn't. Had GM been able to secure their refi, Cerberus Capital would have sold off the Ram and Jeep lines to the highest bidder then closed the rest.

When the Government was looking for someone to take over Chrysler Corp Nissan steeped up and said they would take Ram and Jeep only. They were told take it all or nothing so they walked away. So enter Fiat, looking to get their foot back in the USA what better way then to take over Chrysler. Unlike what some of the uninformed think it did cost Fiat money, just not up front. Fiat has pumped tons of cash into Chrysler and our plants.

No matter what Spoon and others think, had GM and Chrysler closed the effect on the US economy would have been devastating. Remember nobody was buying anything at that time. People that had jobs were so scared that they were forgoing any larger purchases. So the other car manufactures would not have picked up anything and all but the largest of GM and Chrysler's suppliers would have closed their doors. This would have then started a domino effect and spread not only though the US but the world. Think I'm full of BS? Do some research there is a reason why everyone was pushing for the bailout, even people that didn't like GM and Chrysler.

Don

[Fordlover]

Perrysburg Dodgeboy wrote:
Ford: used its $5.9 billion loan to convert two truck plants to small-car production and to develop more fuel-efficient vehicles like the Ford Focus EV and C-Max Energi plug-in hybrid, on sale this fall. Loan repayments start in September. Ford says it will spend $14 billion over the next seven years on advanced-technology vehicles.

The info is old. Repayment of the loan already began in September of 2013, I believe payoff is suposed to be no later than 2022.

[Fordlover]

parkersdad wrote:
Read up boys
http://www.forbes.com/sites/joannmuller/2012/08/29/automakers-report-card-who-still-owes-taxpayers-money-the-answer-might-surprise-you/

The author says that Loan = Bailout. Interesting. Wrong, but interesting.


link
"Ford requested a $9 billion line-of-credit from the government, and a $5 billion loan from the Energy Department. Ford pledged to accelerate development of both hybrid and battery-powered vehicles, retool plants to increase production of smaller cars, close dealerships, and sell Volvo. Ford is in better shape than GM or Chrysler because it had already mortgaged its assets in 2006 to raise $24.5 billion. Although Ford didn't need, and didn't receive any
(bailout) funds, it also didn't want its competition to get the upper hand thanks to the government bailout."

[Perrysburg_Dodg]

parkersdad wrote:
Read up boys
CLICKY LINKY

If you’re keeping score (and you should be) here’s a rundown of how some of the government’s largest auto industry investments turned out:

GM: repaid $23.1 billion of the $49.5 billion it got from the U.S. Treasury, including all of its outstanding loans. But Treasury still owns 500 million shares, or 32%, of GM stock. To recoup its full investment, GM stock needs to hit $52.80 per share. It’s currently trading around $21. GM also received a $106 million matching grant to build a battery factory in Brownstown, MI, where it is assembling battery packs for the Chevrolet Volt plug-in car using cells imported from Korea.

Chrysler: repaid $9.2 billion, fulfilling its debt obligations to the U.S. and Canadian governments, and is now owned by Italian automaker Fiat (58.5%) and a health care trust for UAW retirees (41.5%). Overall, taxpayers lost $1.3 billion on the Chrysler bailout. In full recovery mode, Chrysler is currently the fastest-growing carmaker in the world.


Ford: used its $5.9 billion loan to convert two truck plants to small-car production and to develop more fuel-efficient vehicles like the Ford Focus EV and C-Max Energi plug-in hybrid, on sale this fall. Loan repayments start in September. Ford says it will spend $14 billion over the next seven years on advanced-technology vehicles.

Nissan: received a $1.4 billion loan to build a battery plant and modify an existing car factory in Tennessee to produce the electric Nissan Leaf (currently imported from Japan). Production of battery packs begins at the end of September; Leaf production follows in December. Though it has sold only 14,000 Leafs in the U.S. since December 2010, the company hasn’t backed off its U.S. sales target of 150,000 Leafs per year. A spokesman says Nissan will start repaying its loan after U.S. production begins.So along with their own Government loaning them fits full of cash the USA is loaning them money also?

Tesla: used its $465 million loan to build a battery plant and retool part of a former Toyota-GM factory to build the Model S, its second electric car. So far, only 100 of the cars have been built, well shy of its 2012 goal of 5,000. But the company says it’s on track. Loan repayments start in December. Tesla, which went public in July 2010, hopes to break even by 2013. So since they are building EV it's all good to loan them money right :h

If you want to get upset read this!!!