Quote:
Originally Posted by EllwynX
I'll admit, I'm somewhat worried as well. Have there been factual reports on what will happen if GM declares bankruptcy? Not speculation on possibilities, but real concrete info on what happens. Will car production cease immediately? What happens to the people who go in for a warranty covered repair? Would upcoming products be put on hold indefinitely (ie- Camaro, Volt)?
We can say 'have faith' until we're blue in the face, but I personally would like to know what WILL happen if they file for bankruptcy...
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Well, that's a question to which no one knows the answer for sure, yet. But the bottom line is that they will not stop producing cars. Go read up on Chapter 11. It is a way to allow a company to restructure itself while protecting it from its debtors. If they start talking about Chapter 7, then we need to worry. They will still be making cars and trying to boost revenue that is for sure. They will need to make money and selling cars is the only way they can do that.
As for the Camaro and Volt, that's pure speculation. My personal opinion for the Camaro is that they have already sunk much of the cost for this vehicle and there is a lot of hype and potential around it to kill it at this point. But, I also don't have access to GM's financials to say whether or not continuing with production is the right thing to do or not.