Tag Archives | GM

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US auto sales enter the “new normal”

The blog is changing its US auto sales chart, now that a year has passed since volumes collapsed last October. Year-on-year % changes become meaningless as a result. Instead, it will now show monthly volumes, on a total US basis (blue line) and for the major producers (dotted lines). Key highlights this month are: • […]

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Electric cars could change naphtha balances

Last week, Nissan said its new Leaf model had achieved 367 mpg (156 kpl) in city driving. And this week, GM said its Volt could get an average 100 mpg rating. Pedro Spohr of Galp in Portugal was therefore clearly right last October, when he suggested to the blog that the new range of electric […]

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US auto sales continue rebound

US auto sales have not yet followed the European lead, and shown an increase versus 2008 levels. And they certainly don’t match China’s 17% sales increase in H1. But they were down just 11% in July. And Ford did post its first annual sales gain since November 2007. As the chart shows, all the major […]

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US demand bouncing along the bottom

The good news from the latest reports on US house prices and auto sales was simple – things have stopped getting worse. US house prices saw “some stabilisation in some regions” according to the S&P/Case Shiller Index for April. Whilst auto sales are clearly bouncing along the bottom, down “only” 29% in June versus May’s […]

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Chrysler bankruptcy to last years, not months

More details are now emerging of the US government’s plans for Chrysler. Initially President Obama said he hoped the bankruptcy process would only last 60 days. But according to Bloomberg, the administration now accepts that this period will just cover the “sale of Chrysler’s best assets” to Fiat. Suppliers, including those in the chemical industry, […]

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Chrysler’s bankruptcy marks dawn of new reality

The International eChem team are very experienced in turnarounds and restructurings. We have undertaken these both as employees within our former companies, and then as advisers. This has taught us to be alert for the ‘tipping point’, when a situation begins to change, for better or worse. The blog believes the Chrysler bankruptcy is one […]

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GM bankruptcy threatens auto supply chain

It seems highly likely that GM, the largest US car manufacturer, will enter Chapter 11 bankruptcy proceedings in the next few weeks. Chrysler, the 4th largest US company, may well follow them. Even if it avoids bankruptcy, GM’s own restructuring plan has the potential to be equally traumatic. It is based on a forecast US […]

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GM plans 2 month summer shutdown

The prospect of bankruptcy is finally sharpening the knife at GM. As the blog noted last month, inventories are at astronomical levels. 781000 vehicles were in stock at the end of February, and this figure had only dropped by 15000 vehicles during March to 765000 vehicles. This equates to around 6 months supply. Now the […]

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US auto sales start to bottom

The blog may be over-optimistic, but as with US house markets, it is hopeful that US auto market may have hit at least a temporary bottom. Spring should be a good period for sales, and March saw auto volumes down 37% versus 2008. This was a relatively good performance after February’s 41% decline, but still […]

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Obama gets tough on US auto industry

There had been speculation that President Obama’s mid-West background might tempt him to take a soft line on the troubled automotive industry. But his comments on Thursday that there has been “a lot of mismanagement of the auto industry over the past several years”, suggested this was unlikely. Today’s news confirms it: • GM’s CEO […]

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