12-12-2008, 01:30 PM
I did some quick research, if my numbers are off please feel free to correct me:
Toyota and GM's total vehicle sales were pretty close last year, from what I read Toyota surpassed GM and is now the World's largest auto maker. GM held the title for the World's largest auto maker for 76 years (vehicles sold.)
Toyota posted profits (some articles I read said record profits, others said close to record profits.)
GM posted losses.
9,369,524 vehicles sold up 3% from the previous year, yet they posted losses. How many vehicles do they need to sell to break even?
So GM wants a bridge loan to get them through to what? So they can survive and to create more loses for each vehicle sold? GM never came to Congress with a plan, constantly insisting they will make the changes after we give them the money. Sounds like the kind of planning that got them in the mess they are in in the first place.
Toyota and GM's total vehicle sales were pretty close last year, from what I read Toyota surpassed GM and is now the World's largest auto maker. GM held the title for the World's largest auto maker for 76 years (vehicles sold.)
Toyota posted profits (some articles I read said record profits, others said close to record profits.)
GM posted losses.
GM on Wednesday said it sold 9,369,524 vehicles globally in 2007, up 3% from a year earlier, according to preliminary sales figures. Toyota said earlier this month it sold 9.37 million vehicles last year, but hasn't yet announced a more-precise figure.
9,369,524 vehicles sold up 3% from the previous year, yet they posted losses. How many vehicles do they need to sell to break even?
*Numbers above supplied by Yahoo Finance on 1/23/08. wrote:
Profits: at the end of the day the only metric that really counts is profit per vehicle sold followed by total profits. Look at the chart below comparing GM to Toyota and other major auto makers:
Toyota claimed the title of world’s most financially successful car maker years ago, a much more important title than having the largest market share or selling the greatest number of cars. Honda sells less than 25% of the total vehicles of GM in a given year, yet is a significantly more profitable company with a MUCH stronger balance sheet; fat lot of good selling more than 4X as many cars is doing GM.
Source: http://www.analyticalwealth.com/blog/200...s_ago.html
So GM wants a bridge loan to get them through to what? So they can survive and to create more loses for each vehicle sold? GM never came to Congress with a plan, constantly insisting they will make the changes after we give them the money. Sounds like the kind of planning that got them in the mess they are in in the first place.