GM makes NO money on cars, just on financing - Saab General Bulletin Board - Saabnet.com
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GM makes NO money on cars, just on financing
Posted by Pete Saab 9-5 (more from Pete Saab 9-5) on Tue, 11 Oct 2005 10:37:25
In Reply to: Some analysts are now talking odds on GM going bankrupt, saw, Tue, 11 Oct 2005 09:33:26
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The US car industry is in terrible shape. GM only survives b/c of its financing arm.
If Kerkorian gets his way -- everything that is not raking in dough will be on the table. I'll bet his goal is to split GM -- the money losing car business, the finance business, and the other things all sold off. Then take all the cash out of the companies.
I have no clue how bankruptcy impacts existing labor contracts. My guess is if he can't change those/get huge concessions -- then all that gets shoved aside to sink itself (just like BMW did with ROver/MG in the UK).
As an aside, if Renault can use the Saab brand -- then that is a good thing. They have the $$ to invest, have done well for Nissan.
Pete
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