Looks like GM will file bankruptcy.

[mrstickball]

highwaystar101 said:

mrstickball said:

highwaystar101 said:

Just let general motors fail. If you can't make it then tough sh!t.

Here's an idea for them to make money. Build cars that people outside of USA actually want.

Interestingly enough, GM, like most US automakers, were doing very well outside of the US. The major problem was that they were doing horrible in the states, and their overseas gains weren't enough to offset their poor performances here.

 

Really? they must be doing very badly in America then, because the brands they offer in England aren't exactly run of the mill. Mind you they may have the niche market here in some cases.

It's a very wacky American car world.

According to here, in Q1 of 2007, GM lost it's seat as the #1 automaker worldwide. It was beaten by Toyota, which sold 2.35m cars to GM's 2.25m cars. What's interesting is that, according to the article, GM only sold 677,000 of said cars in the US - leaving over 1.5 million cars (or 2/3rds of it's entire sales) to overseas divisions. Incredible.

Here, we see that GM continues to sell 2/3rds of its cars overseas, and any profits it manages comes from it's overseas divisions.

And finally, GM posted a 200% increase in overseas revenue ($5.4b to $15b) in just 3 years - 03 to 06.

In the end, it really makes you question how stupid they, and the rest of the Big 3 are when it comes to their US divisions.