The "subprime" vehicle maker is back to its old bag of tricks - of the variety that ultimately resulting in its bankruptcy. After Zero Hedge had been pointing out for months that GM's sales number are in small part a function of its "inventory stuffing" gimmick, which has seen the number of cars held by dealers explode over the past 12 months as seen in the linked chart, leading us to speculate that GM is essentially recreating the AOL "channel stuffing" strategy that worked out oh so well, we now get confirmation that things are in fact far worse than even we had expected.
March auto sales numbers were just released today, and every major manufacturer gave us the lowdown on just how many of each vehicle they sold last month. Ford leads the list with five models in the top 19, while GM – with four mode... Read Post
Earlier today GM announced disappointing sales numbers, with March car sales rising only 9.6% compared to expectations of 20%. Indeed, this number tends to be quite volatile: ultimately it is a function of how easy it is to get loan... Read Post