GM Calls Bottom Of Downturn

Financial Times:

Michael DiGiovanni, GM's head of global marketing and industry analysis, said the industry had felt the "tremendous snowballing effect around the world from financial turmoil" in the third quarter.

However, he mentioned the strengthening dollar, falling oil and commodity prices and rising housing starts as "positives" for GM's business, in spite of a generally grim US car market. Actions taken by US authorities to stabilise financial markets would lay the groundwork for recovery.

"We believe the US is probably in the trough of its downturn right now," he said.

Read the whole story: Financial Times

Comments

[bitabingbitabangbitaboom]

Sick, Lame and Lazy
Deaf, Dumb and Crazy

You don`t make a car I would by in April..........................................Scion does

[joemescher]

GM called bottom?

Great, so why do they need $10 billion in guaranteed loans from taxpayers while simultaneously eliminating 401(K) contributions to every employee?

Ask why: http://www.firstcollegenowwhat.com/?p=330

[JBS]

Finally reached the bottom ...

http://www.youtube.com/watch?v=hz65AOjabtM

[funkalicious]

After starring in the mirror for hours on end Michael DiGiovanni must know what a bottom looks like.

I heard he will dress up as the Grim Reaper this Halloween......its a wonderful day in the neighborhood when you can say gimme a Hummer Mr DiGiovanni.

Cafe standards? Screw cafe standards. We don't need no stinkin cafe standards.

GM can go into the wheel chair business now, and turn GMAC into a life support business.

[mamacat]

I would feel better at trusting their powers of reasoning if they at least believed that Global Warming was real, instead of denying it.

[FogBelter]

I guess that means we are supposed to spend money we don't have on one of GM's products.

[JBS]

How about an EV1 - spend money you don't have for an automobile GM doesn't produce.

Seems like a fair exchange to me.

[ferrarimanf355]

It never fails. Someone talks about GM, someone else brings up the EV1. Can we please put this aside already? It's beyond annoying...

[NoWMDs]

They still have not learned their lesson from the '70s.

[swift goat pet for truth]

With their amazing talent for prognostication regarding their core business, what person in their right mind could possibly doubt GM?

[WIpatriot]

Me.

[rpr]

You just don't understand economics.
The recession is over. Don't listen to the TV or HuffPo and BUY! BUY! BUY!

[AirForceWx1701]

Maybe if their product lines didn't suck. As a car guy, I can say that the current crop of front-wheel-drive boremobiles will not be sufficient to bring in folks who are thinking twice about an SUV. Chrysler at least has the 300/Charger platform as a decent start towards making decent cars- though they discontinued the closest link between that line and an SUV, the Magnum wagon. Corporate genius at work, I guess.

[iambusto]

lets be honest. Any sane person would not be buying GM/F between 15000-25000 price range.
there are way too many good cars by Honda/Toyota/Nissan between that range.

You can act all patriotic or whatever. but if you are a reasonable shopper, f/gm do not have any vehicles that can hold a candle to Honda Accord/Civic, Toyota Corolla/Camry, Nissan Altima/Maxima in that range. ok.

[rpr]

Amen. And don't forget VW.
Are there any car platforms at Ford or GM that are not 70s designs?