GM beats June sales forecast

[stovt001]

All the major automakers released their June sales numbers today. Chrysler got hammered with a drop over 30% compared to June 2007. GM was projected to record a 25% drop but dropped only 18%. Even better, Toyota dropped a whopping 21%. Not too shabby eh? The only weird thing is that GM's cars took most of the hit and their trucks took a surprisingly much lighter hit.

I play an online virtual stock trading game and had shorted GM stock when it broke $13. I was making huge money today before the announcement, but after they released those sales numbers it shot up 10% over the previous day's close. I lost a lot of virtual money on that one. Luckily I kept my head and shorted even more at 10% up and it eventually settled at +2%, so I still made money. So bad news for me virtually, but great news for all of us GM fans in the real world.

[The_Blur]

I'm so glad that GM beat Toyota last month.

[cam-up]

will that is a big thing since auto market is going down a hard road right now, thats why im going with CAMARO, gonna be the best value for the dollar, and GM out did it self wasn't expecting to do as good as it did as far as thee forcast

[DGthe3]

That indicates to me that their trucks are being bought by people who need trucks and like fuel economy.

[GTAHVIT]

Here's the link: http://news.yahoo.com/s/ap/20080701/..._ge/auto_sales

Even Toyota, with its flexible, efficient factories, couldn't make the shift from trucks to cars as quickly as American drivers. Its sales for June shrank 21 percent.

So the Japanese automaker fell short of some analysts' predictions that it would overtake GM as the U.S. sales leader. June sales at GM had a still-dramatic drop of about 18 percent.

Looks like just about everyone took it on the chin this month.

EDIT: Repost - sorry. Merge with http://www.camaro5.com/forums/showthread.php?t=4873 please. Or delete, what ever works.

[The_Stache]

These numbers are misleading, not that I like to point that out. The reason that Toyota's sales are down is that they are out of stock. They have nothing to sell. Right now around the country there is an 8 month waiting list for a Prius, and a 3 month waiting list for a hybrid Camry.

[stovt001]

That means either their forecast on specific model sales were off or they couldn't adjust manufacturing capacity for those models fast enough. Those are the same criticisms aimed at GM, so this should shut the import-humpers up. Not that it will, of course.

[Nickdago]

Most industries in the USA are seeing declining markets and are seeing what growth they have in the overseas markets. If congress does not get their pinheads together and do something about energy we are looking ay some serious economic problms in the near future

[SSMUFF]

http://articles.moneycentral.msn.com...02markets.aspx

[DGthe3]

Originally Posted by diarmadhi

These numbers are misleading, not that I like to point that out. The reason that Toyota's sales are down is that they are out of stock. They have nothing to sell. Right now around the country there is an 8 month waiting list for a Prius, and a 3 month waiting list for a hybrid Camry.

Hybrids don't account for nearly 20% of Toyota's sales. They sell more trucks and SUV's than hybrids, just like everyone else.

[DGthe3]

Originally Posted by gtahvit

Here's the link: http://news.yahoo.com/s/ap/20080701/..._ge/auto_sales





Looks like just about everyone took it on the chin this month.

EDIT: Repost - sorry. Merge with http://www.camaro5.com/forums/showthread.php?t=4873 please. Or delete, what ever works.

merged

[stovt001]

Originally Posted by Nickdago

Most industries in the USA are seeing declining markets and are seeing what growth they have in the overseas markets. If congress does not get their pinheads together and do something about energy we are looking ay some serious economic problms in the near future

Will we really? I'm of the opinion that expensive gas will actually be very good for us long term. Besides, Congress has no business getting involved in these matters. They just screw things up, and besides its outside of their Constitutional duties. Some good reality check readings:

http://www.time.com/time/specials/pa...0.html?cnn=yes

http://money.cnn.com/2008/07/01/smal....fsb/index.htm

http://money.cnn.com/galleries/2008/..._projects.fsb/

And you're telling me you want to give up all of that just so we can propel ourselves from place to place with some antiquated process of lighting old dinosaur juice on fire? Psh, why squash innovation? Future tech is fun.

[chadrcr]

Originally Posted by stovt001

Will we really? I'm of the opinion that expensive gas will actually be very good for us long term. Besides, Congress has no business getting involved in these matters. They just screw things up, and besides its outside of their Constitutional duties. Some good reality check readings:

http://www.time.com/time/specials/pa...0.html?cnn=yes

http://money.cnn.com/2008/07/01/smal....fsb/index.htm

http://money.cnn.com/galleries/2008/..._projects.fsb/

And you're telling me you want to give up all of that just so we can propel ourselves from place to place with some antiquated process of lighting old dinosaur juice on fire? Psh, why squash innovation? Future tech is fun.

People need to prepare for the future, more alternatives asap, but that should not require $5 gas.

Did high tape prices bring us the CD?
Did high CD prices bring us the IPOD?
Did $30 VHS recorders bring us the DVR?

NO! no! and no!
Future tech can be fun, but high gas prices... not so much.
Oil companies AND car companies may need some additional encouragement to really try and push the future tech envelop. It would be nice if they would do it on their own, but with the US auto industry suffering, it may require our help, or the help of the govt ( Chrysler in the 80s )

[Mr. Wyndham]

to GM.

[Nelson voice] Ha-Ha [/Nelson Voice] to Toyota