How Trucks and Tariffs Contributed to GM, Chrysler Failures [View article]
This also fails to note that cars are bought on financing, and houses and commercial properties are built on financing, and people who work in construction drive pick-ups and SUVs almost exclusively. To lose sight of the fact that this collapse was due to the seizing of the credit markets chases a red herring. True, they were too reliant on trucks and SUVs, and true the tariffs were part of that. But they were able to generate huge profits with this product portfolio, until their reliance on these trucks and SUVs made them vulnerable during the run-up of oil prices, which destroyed their cash positions, then the cratering credit markets finished them off.
How Trucks and Tariffs Contributed to GM, Chrysler Failures [View article]
GM's Bankruptcy: Obama's Socialist Hat Trick [View article]