duh, you're incredibly ignorant about cars.
you do know that many toyotas and hondas are built in the usa by americans right?
General Motors to hold news conference Tuesday...
- Thread starter palenimbus
- Start date
duh, you're incredibly ignorant about cars.
you do know that many toyotas and hondas are built in the usa by americans right?
most are, or else it wouldn't be profitable to sell them. japanese labor is too expensive, plus the dollar isn't worth anything.
i think it's funny when people say buy american cars and they don't care that toyotas and hodnas are made in america, but they're like "but the profits go to japan!"
since when did people care about the profits of CEO's?
They may be made in america but the design and engineering is done elsewhere, and that is probably more relevant than who tightens the bolts and runs the assembly line.
GM Accelerates Psuh
To Deal With Slump
By JOHN D. STOLL and SHARON TERLEP
July 15, 2008 8:49 a.m.
Slammed by a deep decline in auto sales, General Motors Corp. Tuesday said it will cut salaried job costs, speed factory closings and suspend its dividend to weather the downturn.
The company said it also plans to add $15 billion in liquidity through 2009, even as it said that it has "ample liquidity" to meet its 2008 funding requirements. The additions to liquidity will be achieved through operational steps, as well as asset sales and capital market activities.
"We are responding aggressively to the challenges of today's U.S. auto market," GM Chairman and CEO Rick Wagoner said in a prepared statement. "We will continue to take the steps necessary to align our business structure with the lower vehicle sales volumes and shifts in sales mix. We remain committed to bringing to market great products that target changing consumer preferences for more fuel-efficient vehicles."
The announcements followed weeks of rising uncertainty for the No. 1 U.S. auto maker by vehicle sales. The company's stock price has plunged to lows last seen a half-century ago. GM's market capitalization has dwindled to $5.31 billion, about 60% lower than the value of the company at the beginning of the year.
GM and other auto makers have been hurt by a big drop in U.S. vehicle sales this year and a shift in consumer preferences away from trucks and sport-utility vehicles to small cars and other more fuel-efficient models.
GM is moving to reduce the company's heavy reliance on trucks for most of its sales in North America, and ramp up production of cars and other fuel-efficient vehicles as quickly as possible. GM was expected to announce it is eliminating thousands of salaried jobs; a large number could hit the groups that develop pickup trucks and SUVs.
Mr. Wagoner in June announced a plan to close four truck and SUV plants by 2010. In recent weeks, executives and the board discussed possible further steps, such as closing or downsizing engine, transmission and stamping plants that provided parts for trucks, people familiar with the matter said.
To raise more cash, the board has discussed issuing more equity and selling off the remaining 49% stake GM owns in GMAC LLC, these people said. GM could even consider separating its foreign subsidiaries into an isolated unit, and using that as collateral for additional financing or as a way to sell more equity, David Cole, president of the Center for Automotive Research in Ann Arbor, Mich., said last week. Mr. Cole is known to have close ties to GM.
GM had $24 billion as of March 31, but analysts expect that sum fell by as much as $5 billion in the second quarter alone. Mr. Wagoner has assured investors the company isn't interested in bankruptcy protection, and said the company has enough liquidity to operate for the next six months.
GM is approaching the market with "very conservative" estimates for its market share and industry sales, one person said. GM had 21.3% of the U.S. market in June, and sees total U.S. vehicle sales falling to about 15 million this year. GM entered the year expecting a 16-million-vehicle market, but demand hasn't been as strong as initially thought.
Mr. Wagoner has been working in recent years on expanding the company's presence in emerging markets and beefing up its technology arsenal to better battle Toyota Motor Corp. for industry leadership. The 55-year-old chief executive has won the backing of GM's board of directors, despite posting three consecutive years of massive financial losses and a considerable slide in U.S. market share. Three years ago, he installed a plan under which the company could save $9 billion in annual structural costs by curtailing the company's manufacturing base. He coupled that plan with a restructured United Auto Workers deal that should cut another $4 billion to $5 billion in costs.
People close to Mr. Wagoner say his latest revisions could allow GM to stay on track to meet an internal profit target set for 2010.
Write to John D. Stoll at john.stoll@wsj.com and Sharon Terlep at sharon.terlep@dowjones.com
http://online.wsj.com/article/SB121612399864154295.html?mod=hps_us_whats_news
To Deal With Slump
By JOHN D. STOLL and SHARON TERLEP
July 15, 2008 8:49 a.m.
Slammed by a deep decline in auto sales, General Motors Corp. Tuesday said it will cut salaried job costs, speed factory closings and suspend its dividend to weather the downturn.
The company said it also plans to add $15 billion in liquidity through 2009, even as it said that it has "ample liquidity" to meet its 2008 funding requirements. The additions to liquidity will be achieved through operational steps, as well as asset sales and capital market activities.
"We are responding aggressively to the challenges of today's U.S. auto market," GM Chairman and CEO Rick Wagoner said in a prepared statement. "We will continue to take the steps necessary to align our business structure with the lower vehicle sales volumes and shifts in sales mix. We remain committed to bringing to market great products that target changing consumer preferences for more fuel-efficient vehicles."
The announcements followed weeks of rising uncertainty for the No. 1 U.S. auto maker by vehicle sales. The company's stock price has plunged to lows last seen a half-century ago. GM's market capitalization has dwindled to $5.31 billion, about 60% lower than the value of the company at the beginning of the year.
GM and other auto makers have been hurt by a big drop in U.S. vehicle sales this year and a shift in consumer preferences away from trucks and sport-utility vehicles to small cars and other more fuel-efficient models.
GM is moving to reduce the company's heavy reliance on trucks for most of its sales in North America, and ramp up production of cars and other fuel-efficient vehicles as quickly as possible. GM was expected to announce it is eliminating thousands of salaried jobs; a large number could hit the groups that develop pickup trucks and SUVs.
Mr. Wagoner in June announced a plan to close four truck and SUV plants by 2010. In recent weeks, executives and the board discussed possible further steps, such as closing or downsizing engine, transmission and stamping plants that provided parts for trucks, people familiar with the matter said.
To raise more cash, the board has discussed issuing more equity and selling off the remaining 49% stake GM owns in GMAC LLC, these people said. GM could even consider separating its foreign subsidiaries into an isolated unit, and using that as collateral for additional financing or as a way to sell more equity, David Cole, president of the Center for Automotive Research in Ann Arbor, Mich., said last week. Mr. Cole is known to have close ties to GM.
GM had $24 billion as of March 31, but analysts expect that sum fell by as much as $5 billion in the second quarter alone. Mr. Wagoner has assured investors the company isn't interested in bankruptcy protection, and said the company has enough liquidity to operate for the next six months.
GM is approaching the market with "very conservative" estimates for its market share and industry sales, one person said. GM had 21.3% of the U.S. market in June, and sees total U.S. vehicle sales falling to about 15 million this year. GM entered the year expecting a 16-million-vehicle market, but demand hasn't been as strong as initially thought.
Mr. Wagoner has been working in recent years on expanding the company's presence in emerging markets and beefing up its technology arsenal to better battle Toyota Motor Corp. for industry leadership. The 55-year-old chief executive has won the backing of GM's board of directors, despite posting three consecutive years of massive financial losses and a considerable slide in U.S. market share. Three years ago, he installed a plan under which the company could save $9 billion in annual structural costs by curtailing the company's manufacturing base. He coupled that plan with a restructured United Auto Workers deal that should cut another $4 billion to $5 billion in costs.
People close to Mr. Wagoner say his latest revisions could allow GM to stay on track to meet an internal profit target set for 2010.
Write to John D. Stoll at john.stoll@wsj.com and Sharon Terlep at sharon.terlep@dowjones.com
http://online.wsj.com/article/SB121612399864154295.html?mod=hps_us_whats_news
DUH.
What does that have to do with anything? A Civic built in USA or Japan is still following the same design and process. And most of the work from welding, painting and assembly is now performed robotically.
You are incredibly ignorant about everything.
Most car manufacturers source their parts, assembly and services from around the world
Toyota and Honda are STILL Japanese cars.
nope, wrong.
honda, nissan and toyota each have multiple r&d and design offices in the usa. hondas are very american now.
some of the r&d is done in japan, but there's still a lot that goes on in the usa, from design through assembly. and don't underestimate how important the assembly is to the quality of the car.
No, dunce.
When a company sets their standards, it does not matter where the r&d,design or anything else is sited or which nationality of people perform it.
Toyota and Honda are Japanese companies. All remote locations follow their lead, or else the people in those sites will be replaced with people who do.
You sound like someone who cannot grasp how multinational firms operate.
You seem to think people at an Ohio plant would say, "gee - Honda designs and builds wildly successful, reliable cars. But here in America, we are going to ignore this and stamp out cruddy cars so we can be like Chrysler."
It don't work that way. Doesn't matter if Honda builds or designs in Brazil, Japan or the USA. Everything is run through a rigorous process and approved before it hits the consumer's driveway. That is the Japanese way.
Try and keep up...
US manufacturing of automobiles is BOOMING. More plants being built every year then ever before.
Volkswagen's plans to build a $1 billion assembly plant and create 2,000 jobs in Chattanooga
Toyota announced plans to build its new Prius hybrid plant and 1,000 jobs in Mississippi.
Why won't MI, OH, fight to get this business?
Volkswagen's plans to build a $1 billion assembly plant and create 2,000 jobs in Chattanooga
Toyota announced plans to build its new Prius hybrid plant and 1,000 jobs in Mississippi.
Why won't MI, OH, fight to get this business?
The car makers don't WANT to build in strong union areas. They are looking for areas where people don't think that putting a bolt on a car is worth $50 an hour plus lifetime benefits in exchange for the union shutting down the factories to squeeze the company for more $$$