03-31-2009, 01:38 AM
Dakota wrote:
Problem is there are not enough buyers. We have an annual capacity of 15 million cars but sales are running at 8-9 million. No amount of restructuring is going to create new buyers.
Is this a cyclical downturn, or a more permanent reduction in demand for automobiles? Even though GM was getting reamed by $4/gal gasoline and many years of bad executive decisions, the #1 thing that's killing all the automakers is the credit crunch. Many people can't get auto loans even if they want to/can afford to. The credit crunch is not the automakers' fault and yes, I know, life isn't fair and all of that. We have to get that solved first and foremost, otherwise there will be no buyers for whatever new cars GM ends up making.