So GM has killed dozens of innocent people. At least Obama saved thousands of union jobs with your tax dollars so they can kill more innocent people with their millions of defective products. GM has recalled more cars in the last three months than they’ve sold in the last five years. Sounds like a recipe for success. Cramer says it’s a buy. Who in their right mind would ever buy a GM vehicle? Oh yeah, the millions of subprime deadbeats getting seven year, $35,000, 0% down loans from All y Financial.
GM recalls another 7.6 million cars
SAN FRANCISCO (MarketWatch) — General Motors Co. (NYSE:GM) issued six new recalls Monday covering nearly 7.6 million cars sold in the United States between 1997 and 2014, according to reports. The problem once again is linked to faulty switches that allow the ignition key to inadvertently rotate. GM reportedly said the problem could be linked to three fatal crashes in older full-size sedans. GM said it will take a $1.2 billion charge to cover the cost of the recalls, up from a previously disclosed charge of $700 million. GM shares are currently halted. They traded at $36.84, up 0.6%, prior to the halt.
New ads on the radio touting if you have “Damaged” credit you should/could be driving a new Chevy. Sounds like a great business plan, sell to customers who are not credit worthy enough to buy your piece of shit death traps. That should build brand loyalty for future sales. Though there is something weirdly Darwinian about the whole thing.
Bob.
I wonder, if it’s a coincidence, that Obama bails out GM and the unions with other people’s money, and all of a sudden people start dying. GM is the laughing stock of the auto world, just like Obama has made the USSA the laughing stock of the planet. Obama put people in charge that had no idea what they were doing. Obama, the king Midas of shit, everything he touches turns to death, destruction and shit.
Here Are The 28.5 Million Cars Recalled By GM In The First Half Of 2014
Submitted by Tyler Durden on 06/30/2014 15:21 -0400
One could say things about what is now without doubt the biggest company joke in the history of the US – maybe global – automotive sector, putting even East Germany’s infamous Trabant to shame.
Things like following the just announced latest recall of another 7.6 million cars across models from 1997 to 2014, and another 800K+ cars thrown in just because, GM has recalled more cars in the first 6 months of 2014 than it has sold in all of 2011, 2012 and 2013.
Things like it took GM over a decade to that these latest recalls affecting cars made in the 20th century resulted in “seven crashes, eight injuries and three fatalities.”
Things like GM expecting “to take a charge of up to approximately $1.2 billion in the second quarter for the cost of recall-related repairs announced in the quarter. This amount includes a previously disclosed $700 million charge for recalls already announced during the quarter.” Of course, it goes without saying that this now weekly, forget monthly, charge is clearly non-recurring, and one-time, and those 160 hedge funds who are long GM stock are praying isn’t allowed to enter Non-GAAP EPS as suddenly they will be left holding a stock that has far less value.
Things like why on earth is anyone still buying the absolute garbage this company still makes, when even it now has admitted it will risk customer lives on a grand scale if it allows it to save some shareholder value.
Things like it may get nastier for GM now that moments ago, finally and long overdue, the Orange County DA filed a civil lawsuit against GM for “intentionally concealing defects” and putting human lives at risk in order to boost profits.
Things like we can’t wait for how many million cars GM recalls next week.
We won’t say any of those things. Instead we will merely show a table laying out all the 28,470,653 cars GM has recalled in the first half of 2014: a run rate which at this rate will mean GM may recall more cars by the end of 2014 than it has made since emerging from bankruptcy!
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While they are recalling vehicles they need to recall Ford diesel trucks with the 6.0. What a piece of shit that is. Have two of them and I can’t trade them in because nobody wants them. Have to pull cab off truck just to change turbo charger. Nice engineering there.
No problems with my one Dodge and three Chevrolet diesel trucks.
By Japanese .Best decision I ever made concerning what to drive.
1997 GM?
Probably won’t impact GM too bad.
More than half of all these GM vehicles are already through the scrap yard, recycled to make new flawed pieces of shit.
I have a long-time friend, a graduate in physics, who worked first for Castrol and then P&G, where he was part of the team that created blue Wisk liquid detergent, after he got out of school. He’s also a superb machinist-mechanic who created “Mother’s Motors”, a well-known motorcycle repair shop in the Oakland-East Bay area in the Sixties.
Of GM he said that it represented everything that was wrong w/the Detroit approach to automobiles, because its whole focus was determined by accountants. As he put it, they reasoned that a penny saved a million times is $10,000.00, so that became the guiding principle that determined all else.
Now when something is designed DOWN to the lowest common denominator, then what follows reflects that throughout its entire product line. He told me that a certain number of deaths from design flaws were acceptable, as they were determined by actuarial methods, and the payouts determined what percentage of crapola could be tolerated.
I think at one point he said that on average Detroit had long ago learned to live w/an 8% failure rate. That is, of any given component, it need only have a 92% success rate; the 8% that were lemons could be tolerated within the profit margins the accountants had determined GM, Ford, or Chrysler needed.
The real reason Japanese vehicles succeeded as they did upon introduction was simply this: the Japanese took a look at the US system, understood its rate of ‘acceptable loss’ approach, and decided that to beat Detroit all Jap car makers need do was have a SLIGHTLY lower frequency of failure rate. They selected 5% as their target, and the rest is history.
At one time I drove a Mercedes Benz 220D, far & away the best vehicle I’ve ever owned, because of its engineered build and great performance on many levels. MB publishes an owner-driver magazine, sent w/o charge to owners who sign for a sub [in those days]. In one issue the subject of profits came up, and MB admitted that in its long history there had been poor years, average years, and a few great years, but it didn’t see a non-profitable year as a bad thing.
As long as all the bills were paid and there were no losses at the end of the year, everything was OK, as that meant another successful year of engineering the best cars in the world. I’d rather have an MB above a Rolls Royce, any day!
Finally, I recall GM boasting [before 2008] that in its entire history it had never suffered a loss, a truly remarkable record. Well, considering that for 75 years Detroit had a captive market, this was not hard to do. It also struck me as an admission that profits were clearly ahead of product and people [buyers]. So eat shit & die, GM piggies: you were your own worst enemy.