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Auto industry taking a beating

I would like to express how happy I am to read this. I know that there are people who lost jobs over this, unfortunately, but these vehicles just had to go, sooner or later. Its about time GM takes a massive beating for killing the electric car in the 1990s. They deserved this and worse (diiiiiiiiiiiiiie, GM, diiiiiiiiiiieeeeeeeee):

http://www.theglobeandmail.com/serv...ilTPStory/Focus

quote:

TALKING PICTURES: IMAGES OF THE WORLD THIS WEEK: STALLED MARKET IN HEAVY METAL July 5, 2008 If there's one thing the auto industry hates, it's deals and discounts - they put a major dent into profits, ride roughshod over brand image, rust out resale values and steer consumers away from snapping up new models as soon as they arrive in favour of waiting for deals and discounts. But the new reality of the North American auto industry is neatly captured in this scene at a Chrysler dealership in Portland, Ore [image not provided, only for subscribers]. U.S. auto sales hit their lowest point in more than a decade last month, while in Canada, sales of cars and light trucks in June fell 5.7 per cent from the same month last year and were down 13.6 per cent from the previous month. Worst hit has been General Motors, Canada's largest automaker, whose sales plummeted 23.8 per cent from a year ago. And the fallout has slammed Canadian workers hard - with announcements last month that GM would be closing the truck-assembly plant in Oshawa, Ont., which employs 2,600; that Magna International Inc., Canada's largest auto-parts manufacturer, would be cutting 400 jobs at its plant in St. Thomas, Ont.; and, just this week, that 11 smaller plants that make plastic instrument panels in the Toronto area would close, eliminating another 2,000 jobs. The reason is hardly a mystery - oil prices hit a record high of $146.69 (U.S.) a barrel on Thursday, which, on top of environmental concerns, is driving consumers toward smaller, more fuel-efficient cars. And those are where the foreign competition tends to excel. GM, Ford and Chrysler have all announced plans to move toward production of smaller vehicles. But in the meantime, it's going to take a lot more deals and discounts to get rid of the once-mighty gas-guzzlers.

Go Honda go?

quote:

Originally posted by Shakka Go Honda go?

LOL ... naaaah, Hondas are ghey (though more efficient and environmentally friendlier, I suppose (?)), I dont really like any specific cars other than the really environmentally friendly ones. But those ones are typically expensive. Like the one I get to drive on certain days with my job is Ford Hybrid Escape, which is like $30,000 and has a fuel efficiency of about 7-8L/100km.

It appears that the foreign car manufacturers are biggest beneficiaries of the oil debacle. Kinda funny how it went to bite American car companies in the arse at the end. I bet they didnt see that coming.

My car takes premium unleaded. It's a bitch these days. Though when you think about it, it's really only about $6 more per fill-up (though I know it adds up). At least I don't have a brutal commute.

Americans are finally being forced into making smart choices. It's really fucking great.

quote:

Originally posted by Shakka My car takes premium unleaded. It's a bitch these days. Though when you think about it, it's really only about $6 more per fill-up (though I know it adds up). At least I don't have a brutal commute.

Yikes. I was contemplating on getting a car ... but then I thought about the oil prices, and since I am not out of college yet, I figured I'll stick to public transit (which I can tolerate for now, despite its problems such as on-time arrivals).

Instead I spent some money on DJ equipment

quote:

Originally posted by Clovis Americans are finally being forced into making smart choices. It's really fucking great.

Excuse me, but what the fuck are you still doing in PDD? Didnt I just tell you to keep it to COR here?

http://www.tranceaddict.com/forums/...1&forumid=66&s=

Anyways on topic. I think aviation industry is going bust soon too cos of rising oil prices.

quote:

Originally posted by Kinezi Excuse me, but what the fuck are you still doing in PDD? Didnt I just tell you to keep it to COR here? http://www.tranceaddict.com/forums/...1&forumid=66&s= Anyways on topic. I think aviation industry is going bust soon too cos of rising oil prices.

And you think that your opinion on who's here matters?

Clovis: smart choice?? You sound like a smart ass hippie right there.

Some people at my job (who are pretty tight with detroit executives) are convinced that GM, Ford, and Chrysler are heading toward bankruptcy protection to break the union legacy contracts.

* not insider information - just speculation after a round of golf *

quote:

Originally posted by Kinezi Excuse me, but what the fuck are you still doing in PDD? Didnt I just tell you to keep it to COR here? http://www.tranceaddict.com/forums/...1&forumid=66&s= Anyways on topic. I think aviation industry is going bust soon too cos of rising oil prices.

Excuse me but do I look like I give a fuck?

quote:

Originally posted by malek Clovis: smart choice?? You sound like a smart ass hippie right there.

Yes and?

Truck sales are down, RV sales are down, fuel efficient cars are selling like hot-cakes. People are taking more mass transit. They're trying to localize industries. Urban planners are re-energizing city centers and downtown areas, and concentrating living and commercial spaces and reducing the spread out norm of American cities. It's unfortunate that it had to come to this but the high cost of gasoline is finally making people change their way of living, in the direction this country desperately needs to go. The automobile fantasy bubble is coming to an end.

agree with clovis...the adjustment will be tough but in the long run it will be beneficial for us all

quote:

Originally posted by jerZ07002 Some people at my job (who are pretty tight with detroit executives) are convinced that GM, Ford, and Chrysler are heading toward bankruptcy protection to break the union legacy contracts. * not insider information - just speculation after a round of golf *

*starts buying puts*

damn you elitists with your information trading circumventing insider trading laws

quote:

Originally posted by mndeg *starts buying puts* damn you elitists with your information trading circumventing insider trading laws

if that was insider information you could bet i would not have made it public, and i would have sold short the stock. watch out for a sale of volvo by ford. *wink*

quote:

Originally posted by jerZ07002 watch out for a sale of volvo by ford. *wink*

Not exactly inside info either.

http://online.wsj.com/article/SB121539865693931653.html
http://blogs.wsj.com/deals/2008/07/...sts-of-divorce/
http://online.wsj.com/article/SB121373506239781991.html

quote:

Originally posted by Shakka Not exactly inside info either. http://online.wsj.com/article/SB121539865693931653.html http://blogs.wsj.com/deals/2008/07/...sts-of-divorce/ http://online.wsj.com/article/SB121373506239781991.html

word is that it's past speculation.

seems like ford wants to keep volvo, they are way too integrated.

Word is these guys need to shed assets in order to prevent a liquidity event. To attempt to raise dilutive capital at this point would be borderline reckless.

quote:

Originally posted by Shakka Word is these guys need to shed assets in order to prevent a liquidity event. To attempt to raise dilutive capital at this point would be borderline reckless.

not many people are lining up to provide equity to these guys.

quote:

Originally posted by jerZ07002 not many people are lining up to provide equity to these guys.

Indeed. How much good money has been thrown after bad in the U.S. markets already this year? It's amazing how long it takes some folks to wise up to the mess that is the U.S. economy.

quote:

Originally posted by Magnetonium LOL ... naaaah, Hondas are ghey (though more efficient and environmentally friendlier, I suppose (?))

ghey? Come on the civic is exceptionally good looking and the new accord is a great drive (test drove one last week) as well as very handsome (in a ruggish sort of way).

quote:

Originally posted by Clovis Yes and? Truck sales are down, RV sales are down, fuel efficient cars are selling like hot-cakes. People are taking more mass transit. They're trying to localize industries. Urban planners are re-energizing city centers and downtown areas, and concentrating living and commercial spaces and reducing the spread out norm of American cities. It's unfortunate that it had to come to this but the high cost of gasoline is finally making people change their way of living, in the direction this country desperately needs to go. The automobile fantasy bubble is coming to an end.

Touch�! exactly man

both of you are disillusionnal if you think the american way of living will change, that it'll curb suburbs and exurbs... its a hippie fantasy.

V8s will be replaced by V6s and more effecient cars, hybrids cut on average 30 to 50% gaz consumption in the first generation, alternative fueled cars are on the way, and this won't change the american dream of having a big house with a lot.

Mass transit might see a short surge in ridership in very well deserved cities (very few in fact in north america), but thats only because people don't change their cars overnight, it takes years for people to adjust their habits... but changing them? thats just a hip urbanites dream...

Not that the american way of living will change, but perhaps people will start driving cars that weren't designed in the stone age but will move on to something more modern.

And i know this gets said my europeans all of the time but just the same, if we had the same price of petrol here, i would be driving a 325hp german R6 or something like that instead of the tiny italian 1,9l diesel in a car a size of a shoe (that's actually really good, with a single exception of sound isolation...its quite loud)

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