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According to commercials, GM has paid all their debts back to the US gov't and they can finally tell them to kiss their ass and do whatever they want to do with the company. They were motivate, could see the gov't was going to drive them out of business with the way they were controlling them. This insite got them to pay back the loan 5 years early. Now bring on the cool cars again and bring back Pontiac! :rock:
Way to go GM!
:thumb::thumb:
yep this was on fox business news yesterday morning they are 100% paid off, took then 9 months instead of 5 years (which some people said they would never be able to pay back in 5 let alone 10)
thank Ed Whitacre
And since then have you notice more GM adds on TV too. It's looking good.
but it still took alot of jobs with GM closing so many small dealerships. lets hope they can save pontiac now.
This is the best news all month!!!
I have been seeing the commercials too. Awesome for GM. Now just get rid of the UAW.
seen the same thing maybe we can start selling some more i was getting nervous for awhile there.
They're not out of the hole...just paid 8 billion faster than they had expected, they still owe somewhere near 40 billion. All they did was shuffle money lended by the government to pay off gov loans.....didn't accomplish much there but confuse people...
+1,
I never understood the reasoning behind giving Pontiac the ax and keeping Buick? It seems like there were way more Pontiacs being sold compared to Buick?
Here 63% (I think can't remember the exact number) of GM's customers are over the age of 55, that's why they kept Buick.Quote:
Originally Posted by Fasglas
But did they sell more Buicks or Pontiacs? I'm pretty sure I've always seen more Pontiacs on the road around here.
I guess Chevy and Pontiac were somewhat the same and possibly competed for the same market. But if they were selling good numbers of both, IMHO money talks.
well maybe GM stocks will go back up since both my parents work for them and of course are invested. that would be nice!
EDIT: and since they axed pontiac ya bout can't damn near get one financed
GM sells more buicks globally than any other brand they own. over seas, buick is their cash cow.
i do believe buick shares more common platforms with GM than pontiac does. another reason they might have kept buick.
Buick is huge in China now too
GM no longer owes any debt to the government but the US government still owns 61% of the company, Canadian government owns 11%, I think the UAW owns at least another 15%. The got many billions more in bail outs than what they had to repay. The respective governments took an equity stake for that as opposed to a loan that had to be repaid.
So still Government Motors unfortunately.
Chevelle!!!!! Chevelle!!!!!!! Chevelle!!!!!!!
So does all this mean that GM lied about how much they really had, sinse they were able to pay a 5 year loan back in under a year? Especially when so many thought that they would infact take longer to pay? Do you maybe think that they did it all to have an excuse to ax Pontiac, which they may have been planning on for a while? Food for thought, most def. am not bashing GM in any way here.
Buick is the top selling car in China, which is the fastest growing market in the world right now. Pontiac was competing with Chevrolet's car line, and no one elses, so that's the primary reason for dropping them. +1 for GM getting on the right track. Now they just need to stay there and maintain the highest of standards
I guess I just wish they hadn't dropped the Pontiac line because I liked some of them much better than the Chevys.
That G8 was a beast. Hopefully we'll see that on the road again as a Caprice in the future
A friend of mine has a G8 with the six speed auto. He let me drive it. He told me to let her rip, so I came down to a stop on an entrance ramp and punched it, I was amazed how quick it was. Very fun!Quote:
Originally Posted by Mang213
Your lucky, the closest ive gotten to driving one was an 06 GTO. That car was a blast to drive too
Here is a good article explaining what I was talking about.
Still Government Motors - Forbes.com