uncle bubba

December Car Sales: Gruesome

GM still out sold all other auto makers in 2008. We are very gald our elected officials saw the light and helped GM with financing when the credit dried up. GM was not the only auto manufacturer to be helped by it's own country. Still the largest and selling the most. Hard to equate that to the statements published here about no one wanting GM cars and trucks. The facts don't jive with Seeking Alpha's spin. Sorry guys. You're just idiots I guess. But keep pushing the rising sun, maybe you can retire in Japan in a large 400 sq ft flat in the homeland.

GMAC: Happy to Lend You Some of Your Own Money

One last thought, with the government using the TARP funds to help GM this program may do what it was intended to do. The economy is slow due in large part to people not buying, not putting dollars through the system. If Joe six pack buys a car, the dealer profits, the manufacturer profits. Those profits are paid to employes who in turn spend at the local resturant and stores and the economy starts working its magic as the dollars turn. This seems to me to achieve the ends envisioned by the congress as opposed to the banks who have held on to their funds to make the balance sheet look better without putting the money into the economy.

GMAC: Happy to Lend You Some of Your Own Money

The help is the stability of GM and keeping GMAC out of bankruptcy which could have pulled GM down further. The fact is credit is and has always been availible to anyone with decent credit. GMAC went to cutting off approvals at anything below a 700 credit score because they did not have the funds to lend. They now can and will look at credit down to a 621 credit score. This is still much higher than in the past, persons with scores as low as 480 had sources for financing with high rates. Credit now is generally unavailible to persons below 600. Credit has tighten but not for the majority of the country. The news made it sound that even with good credit auto loans were hard to get or unavailible. This news helps GM from the standpoint of changing that perception. It is amazing that people with very limited understanding of the financial workings in general are given space to write about things they don't understand.