GM Sales Plunge 49 Percent, Ford 40 and Toyota 32 Percent

Let's hope this will force the auto manufactures to make vehicles that offer better value for us little people.

There will always be the 10% who own 90% of the wealth that will buy the exotics.

Chrysler down 55% and GM down 49%? Good. Couldn't have happened to nicer people. They run their companies into the ground, steal money from taxpayers to stay afloat, and as a result, taxpayers revolt and refuse to buy their crap products. I hope this trend continues and justice is served. Companies need to realise that while they can con politicians into giving them money taken from hard working taxpayers, a great number of those taxpayers will refuse to do business with you ever again as a result.

Totenglocke

You need to think outside of the box a little. Sure, they made some bad choices and are struggling, caused by our government making/allowing a horrible financial mess out of our economy.

America makes great cars, not all, but many which you will never admit to. I do not agree that letting them all fail is appropriate, and I am in the majority. It does ripple down to all of the economy here. Perhaps you found yourself financially rich enough where you don't care about the person loosing their job and trying to work.

I would rather have $25B given to even the worst of the car companies, than the near $1Trillion dollars lost to a war, with $100's of Billions unaccounted for in no-bid contracts, on truck loads of our tax money thrown onto the streets and lost. Now look at the financial bailout, the banks admitting they have no idea where 100's of billions of tax money went, no records? Why were the republicans so eager to give our money away, yet so hostle to help us at home? Treason if you ask me.

Give all car companies enough to float them until they get organized and the economy flips back. That is what I see happening. Foreign car companies get help from their government as well.

Good luck to you, enjoy watching America fail.

@Sparky

If I hear one more lie about how the only reason the American car companies are going broke, I'm going to hit someone. The American car companies haven't made a profit in over a decade. This has been a long time in the making, it just happened to be that the bad economy sped things up.

Yes, American car companies make a handful of good cars. However, most of their products are crap and overpriced.

Yes, the war was an idiotic idea and a complete waste of money. However, rewarding a failed business with billions is just as idiotic and just as big a waste of money.

Just because it means some overpaid union workers will keep their job does not justify stealing money from everyone else in the US -- and yes, that IS what the handout is doing. I'm currently looking for a job, but you know what? I'm not self-absorbed enough to think I have a right to other people's money just so that I'll have a better life.

I know you think if it has an American flag on it it's the most wonderful thing ever, but that's a bunch of crap. Stop worshiping the government and pull your head out of your butt. The best thing for the American car companies is Chapter 11 and being taken over by someone new and ditching the union. If you REALLY cared about American citizens, you'd want to keep their tax dollars from being wasted on greedy, incompetent people like those at GM and Chrysler. You're too blinded by the crap on tv to realise that though, so I know I'm wasting my time talking to you.

Let's face it, American auto companys have been run into the ground by greed and bad choices. Remember the Pinto and Vega? Not many do, they have continued to take the easy profits from the BIG stuff and continued to give the unions more and more! I've had to go into GM plants as a contract worker and lived in a GM town. The majority of these workers walk around like they're untouchable. I don't feel sorry for them at all. Meanwhile the administration of these companies that have taken their big bonuses and given the unions the ridiculous packages are just as much to blame. I think they should go the way of the DODO and governments should keep our tax dollars for something useful, like the small businesses out there that or our bread and butter of our country. Mom and pop shops are closing up all over but you don't see them getting any handouts!
Anyways enough ranting I have to say something positive
"Hats off to Ford for not taking any money".

@ybnorml

I second the Ford comment. If they make it through without taking any money, then I might consider getting a Ford at some point.

Ford did accept money. Not as much as GM or Mopar, and what they're doing with it is more of an investment than bailout.
They don't have a handful of brands to kill, and have plenty of real vehicles coming down the pipe that have drawn impressive interest.

Toyota is posting a loss as well. Not surprising now that they have overtaken GM as an auto manufacturer with the most models for sale (Toyo, Scion, Lexus). I don't even dare add the numbers between gas and hybrid models either.

2009 is going to truly divide the chaff from the wheat. I dare say Hyundai stands to slide up the ladder even farther this year.

No, Ford has a line of credit available if they need it, but they haven't taken any yet.

I agree that it is most definitely NOT the government's fault that the Big Three are doing so terrible. It is bad business, and the poor economy merely highlights it. Yes, they do have a few awesome vehicles, but a majority are terrible for what you pay for. You can't compare a Chevrolet Corvette to a Dodge Avenger. Seriously...

They need new management, and if that means getting rid of the Union, so be it. It will cost money, and it will cost jobs, but in the end, it will probably be better for America. You cannot make everyone happy. The Union, the Big Three, and America as a whole needs to understand that.

Ford isn't nearly as in bad shape as GM and Chrysler is, due to their overall global sales which is doing a lot better then GM and Chryslers overall global sales at the moment and because of that, they don't have to tap into their credit just yet. I couldn't believe Fiat bought 33% of Chrysler at a time like this, they are going to regret it in a big way, because GM and Chrysler are sinking ships and all the gov is doing is just giving them a larger bail bucket prolonging the sinking ships The only way GM and Chrysler will fix their problem is if they go bankrupt and do a total restructure. The economic forcast is only going to get worse before it gets any better. Many top finacial experts are saying that the economic recovery process won't start to take effect for at least another two years and 2009 may end up being even worse then 2008 was.

And lets not forget out of all this bickering, that Subaru is posting gains!

GO SUBARU!

Flat 4's for everyone.

I just hope that the parts supply chain does not collapse so that I can keep my 1987 Mustang GT running.

Also:

"This program gets to the root cause of today's economic concerns — fear of job loss,"

Quoted for truth.

Ok, again, thanks for posting under my name. You guys crack me up. What a bunch of haters you are... Let me summarize all of you..

AMERICAN CARS SUCK

AMERICAN WORKERS ARE LAZY IDIOTS

AMERICA SUCKS

GO SUBARU!

GM NEVER MADE A PROFIT (a lie)

FORD NEVER MADE A PROFIT (a lie)

DODGE NEVER MADE A PROFIT (a lie)

You all make me sick. (this is the real sparky btw)

Um, you guys are aware that GM's numbers fell because 80% reduction in fleet sales last month? Last month was the lowest fleet sale month GM has had since 1975. Retail sales held steady at 21% of the market. They still managed to move more units last month then Toyota despite an 80% drop in fleet sales.

As for Ford, they tapped their before credit froze. So they had cash on hand, hence why they didn't need government money.

This is to comment on the Sparky/Totenglock issue.

Totenglock, I have doubted your intelligence before, but you have removed all doubt. Thank you so much for confirming my intuitions. Let me recap your text.

Yes, American car companies make a handful of good cars. However, most of their products are crap and overpriced. - Give me examples please. Have you seen the new models coming out? Ford is now leading in quality and fuel efficiency. PS, the UAW is employed by Ford. And when I say examples, I mean lots of them. You said "a handful of good cars". Show me the dozens of "crap" cars that are overwhelmingly beat by these amazing camrys, corrolas, accords, etc. Because I dont know about you, but when I see these camrys, etc. on the road, my heart begins to beat with excitement and joy! What amazing feats of engineering!

Yes, the war was an idiotic idea and a complete waste of money. However, rewarding a failed business with billions is just as idiotic and just as big a waste of money. - Yeah cause rewarding an American industry that employs millions of AMERICANS with less than 1% of what we have spent in Iraq is on the same page of stupidity. We should go to war with another country so we can justify bailing out the computer or health care industry. Oh, and by the way, ITS A LOAN. They have to pay the government back. Keep bitching about your $25B and while you are the government is taking another trillion. But yeah keep hating America.

Just because it means some overpaid union workers will keep their job does not justify stealing money from everyone else in the US -- and yes, that IS what the handout is doing. I'm currently looking for a job, but you know what? I'm not self-absorbed enough to think I have a right to other people's money just so that I'll have a better life. - Have you heard of welfare? A system going on in this country for decades? Well, welfare is a system where people dont work, and they get paid by people who do work. Guess what happens if there are no workers to feed the system? No welfare! No money!

I know this comes off as really mean, but I am sick of people holding a grudge against us who live in Michigan. I am an engineer, I am about to get laid off by a FOREIGN automaker, because we are contracted by the Big 3. So long contracts, so long jobs, so long manufacturing base. Hello Wal-Mart, welfare, and good bye to automobiles being more than point A to point B. Because I do NOT want to buy one of your fancy Camrys. I actually like the sound of exhaust and shine of clear coat. I change my own oil and do all my own maintenance. I (used to) work for a living. But yeah hey Iraq and the Big 3 loan, they are easily comparable. Just like in the 70s, when Chrysler had that loan, and we were off spreading democracy in Vietnam! THE SAME EXACT THING! ugh

Oooh! I got more....

Ford posted a profit of $100M for the first quarter of 2008.

GM posted a profit of $891M in the second quarter of 2007.

Chrysler posted a profit of $1.1B in the second quarter of 2008.

But wait, I thought... "The American car companies haven't made a profit in over a decade." Are you just making things up to prove your point without facts? Do you know the difference between fact and opinion? Ohhhh I get it, you want to be "the man" that proves that all these half a million people directly employed by the Big 3 dont deserve a job, they're idiots right! Yeah, idiots who make stupid things up because they like their '86 Honda and they are sick and tired of their friends making fun of them. This is me passing you in my FORD with my finger up.

William, you summed up your argument perfectly yourself -- you're pissed that you live in Michigan and due to Michigan's reliance on the Incompetent Three, Michigan's economy went to crap way worse than anywhere else in the country. Boo hoo. If you're a good engineer, there are plenty of other jobs in other states, and you'll be just fine.

As for your profit figures, what PART of those companies are they from? Sure, Ford of Europe may post a profit, but Ford as a whole is in serious trouble. If they were making profits, they wouldn't NEED to be begging for money.

As for the war vs the handout, so because Bush got us into an idiotic war, we should just keep throwing away money? I'm very glad you're an engineer and not a financial advisor!

As for the handful of decent models from American companies: Vette, Cobalt SS (well, the interior sucks, but other than that it's decent), Malibu, G8, 2010 Mustang, 2010 Fusion, Saturn Astra (though horribly overpriced) and maybe the F150 in there too. I think that's about it. Now, compare that handful of cars to the several dozen models the American companies make. It's a pretty small percentage of cars that give you any incentive to buy them. Yes, Toyota's and Honda's are normally boring, but there's a lot more to a car than good styling (also, there are other foreign cars than Honda and Toyota). A good car has good performance, a good interior, is reliable, has good resale value, is fun to drive, and isn't overpriced. I'm sure you'll have a heart attack since you think I hate American cars because they're American, but the Audi R8 is the perfect example of an overpriced car -- sure it looks great, but the V10 model matches the BMW M3 in performance......for 2.5 times the price!

I have no idea what your welfare comment was about, because the welfare state is exactly what I was arguing against. I am not on welfare or unemployment right now, I'm working crap pay job to barely get by while I look for a new job.

I'm sorry that you might (or already did?) lose your job because of the Incompetent Three, but that's how things go in a free (well, we're still somewhat free, though Obama seems hell-bent on taking away more freedoms) society. If you want government run everything, you're free to move to China / Cuba / Venezuela / other communist countries , no one here will stop you.

Thanks William.

Finally, someone making sense of all this rant.

My response is still; government is DIRECTLY responsible for this mess. They (the Bush administration AND congress) voted and funded a Trillion Dollar War, wiping out all our reserves and surplus. The government (in helping the less wealthy -oh how horrible!) tried to make home loans more easy to get. HOWEVER, they also prevented oversight and regulation from preventing the GREED of the banking industry from handing out bad sub-par loans (and selling them to stupid over off shore banks). Again, our govenment needed to have been active to make sure they were obeying the law sicne they guarenteed the loans, both parties are to BLAME for the housing and financial mess. Next, the government (bush and Congress) passed a near Trillion more dollars to bail out the banking industry, and guess what? No regulation or oversite again - wasted tax dollars, huge! Again, the government is responsible for our tax money and keeping the economy strong, but they screwed all of us (thanks to a corrupt banking industry too) but not regulating or at the very least tracking where our money went.

Now, because of the actions and lack of actions from our GOVERNMENT (congress too), our economy is sinking, people are not (or unable) to buy cars and products and services, and the Auto industry suffers hard. Millions of jobs on the line, directly and indirectly. Americans are rapidly loosing their jobs.

Now, government (Obama) want to LOAN money to the car industry to keep that industry from failing all together, but it is a a relatively tiny 25 B (compared to the 2Trillion Bush spent). All I hear is a bunch of ranting about how awful the auto industry is, all their fault, let them die, screw the unions. If Bush would of ran the country with at least a grade-school knowledge of economy, I would not be ranting on this site. And I could be looking forward to a few performance car this year!

Enough, sorry to post the obvious. If you don't want America to succeed, that is your choice, but as an American I find you, well, un American to wish ill on any of us. I hope all car companies succeed and make great products. Competition is good, especially from and for American car companies.

Peace, Go Ford!

The auto business is just a piece of what's wrong with our world nowadays and it's just sad that the world is in this situation period. Greed doesn't work for all just a few. We don't rebel against the humongous salaries these guys take home. We the workers are used, we work long hours for small raises and when things get tough we're the first to get let go.
I don't care what company they run none of them are worth the money they earn. If the front line workers slowed down or left would these guys be able to keep the companies going? I think not!
If the majority of the suits recognized the true value of the front line workers and spread the wealth around more fairly I'd bet the economy would be motoring and productivity and quality probably wouldn't be an issue either. Doesn't matter where you come from or what you do all you want is to be treated fairly.
When you hear that the top gets these big bonuses and the bottom gets layoffs, it hurts!

Clearly some people (sparky and william) are being generous with their figures. While it's nice to play games between quarters, dabble with restructuring charges, remove some items here and there.....at the end of the day, they all roll to the bottom line. The big 3 stunk over the last few years....if they didn't then why the need for money or a line of credit? Hmmm...not making much sense here are you. Why don't you look at cash flows as well. Just please turn off the TV and stop repeating everything you hear.

Heres the scoop. I agree with Totenglocke. The big3 are crap. unions are crap and the bailout is crap and american cars are crap. if youre satisfied with subpar "american quality" because their american, then good for you. But I myself am not going to lower my expectations just because its made from USA. Yes I complain about the big 3, but that does not make me a hater. I want the Big3 to succeed. I want them to make the best damn car in the world. The fact is, theyre not. And no amount of cheerleading will elevate the quality of the american car unless we complain and tell them to up their standards.

Look at them now, the quality is better than the joke cars built1980-2000. They heard the complaints and did something about it. The big 3 made a huge jump in quality, but they are still behind. Those of you saying we are american haters, it's quite the opposite. We are not mad at the auto workers, we are mad at the executives, the union, and the crap quality cars that are rolling out of the factories. Not till they make a good quality product that deserves a stamp "made in the USA" will we stop the hating.

The reason I have little pity for The Big Three is that somewhere along the line they made a conscious decision to make cars that were not as good as their foreign competitors all the while expecting us to like it.

Reliability, innovation, performance, styling, value...you name it and we failed to be the benchmark. It's not as though we lacked the engineering or design talent. It's that The Big Three didn't really believe we deserved it. They believed that Americans would accept less and be happy with it because it was made here at home.

If you say I disrespect The Big Three, you're right. But, they started it.

Hmm must be my eyes but it appears Toyota posted a huge loss at the end of 08 to finalize the year in the red.

Haters of any particular brand are all morons.

Anything recently produced by the Big3 is now equal to its foreign counterpart in quality or whatever other benchmark you want to put it against.

I find it interesting the quality levels are dropping for the imports now that more people are buying them and the Big3 numbers are rising as their numbers decrease.

Apparently stressing your production line out with high volume numbers is the real culprit to quality built cars. Gee, who knew...

Only auto manufacturer I respect currently is Ford. They are the only ones thus far not to sticking their dirty hands in my pocket to rob my tax dollars. The other 2 and all the foreign auto makers are crooks.