28th Sep 2010, 11:43
What's all this talk about profit got to do with anything? People really haven't paid much attention lately. GM hasn't made any money for a long time, and Ford is just scraping by. Chrysler was bankrupt and is now partly foreign owned.
And even when they make any money; who benefits? It's the shareholders and the corporate fat-cats that benefit, and not the US auto worker. GM is a global company and the people that think that GM is heavily investing into the future of the US is direly wrong. GM is not really investing anything in the US nowadays. Development centers and production capacity is increased overseas, and there's where the money goes if you wonder; not into the US economy.
The best thing you can do is to buy a US produced Toyota or Honda. That really benefits the US worker and the local community. Toyota does not only produce locally, they develop locally employing a lot of US designers and engineers.
28th Sep 2010, 12:04
Gee I wonder how much of BMW's, Mercedes and Audi's corporate profits go back to Germany? Or how much of Chryslers corporate profits go back to Italy?
28th Sep 2010, 15:08
It's obvious a commenter has not driven a 97 or newer redesigned Vette C5. Now wider and flat floor easy to enter. I take my elderly mom out to dinner and she loves riding in a nice 2 seat convertible. This is the best time of year to own one or two. The average Vette owner makes over 100K. I own 2 and just bought a 70 Chevelle SS396 4 speed ac car and had shipped from Ca. Life does not have to be mundane. I feel I have done well by being happier vs mundane living as well. I work even harder being content, and could have retired sooner, but like my job vs golfing every day.
29th Sep 2010, 00:06
In a strange twist, the unions allowed the domestic auto companies to build overseas factories because they were counting on profits generated there to support their future pensions and health care benefits.
Profits are used to fund development of new vehicles, which then provide more jobs in the future.
Ford, GM and Chrysler all got into positions where they had to abandon certain categories of cars, because they had no profits to fund their development. Same for new engines. But the unions preferred to get money sooner, and did not care that new vehicle development was strangled.
Also, do not forget that many of the auto workers are shareholders also.
That being said, I also am dismayed at some of salaries being paid to CEOs and board members across many types of industries. And some of the bond holders of GM were getting some outrageous payouts. They interviewed some of them on the network evening news programs, with them being absolutely clueless to the fact no one was sympathetic to their whining, when they had already pulled out way more money than they invested, and they were expecting the money to just keep rolling in.
29th Sep 2010, 11:39
Wrong. Ford is taking in billions in profits and GM has already repaid the government loans and is also turning a VERY healthy profit. Stock sales are returning the government's investment in GM stock and will result in a nice profit for U.S. taxpayers. On the flip side, the news this week revealed that the car sitting on lots the longest before sales was the problem-plagued Toyota Camry and the vehicle moving off dealer lots the fastest was the well-built and redesigned Chevy Equinox. The revelation of poor quality, shoddy build practices and disdain for the consumer is finally catching up to the Japanese auto industry. And it's about time.
29th Sep 2010, 13:23
Still going on about Vettes on a Camry thread? I'd much prefer most anything else other than a Vette. There are so many cars today that are nearly as quick for less than half the price. The convertible would be much easier to get in and out of and to see out of but I like the hard top and targa top better as far as looks go. You are right most of the Vette owners make over 100K. How else would one afford one?
Your Chevelle sounds pretty sweet. Have fun with that one! I'm still chasing my classic... 1974 Trans Am 400 4-speed...or something close.
29th Sep 2010, 13:31
Looking at used cars I buy at the current economy at the time. When gas was at its highest I shopped for the worst gas mileage cars since my commute is short. In turn I got more room better ride and saved a lot. This year has to be even better. With cash in hand and shopping privately I got 5k knocked off the price. When fuel is very cheap again with the bad economy and less driving, I can get a better buy on a small economy car. Same applies to houses and seasonal items. Instead of complaining about the economy find ways to make it work to your advantage. Of course if I had a long commute I could opt for a high priced import vs paying cash for a nicer, low mileage, better riding car. By being close to work I could get a monthly bus pass or ride a bike vs a loan on a new car.
29th Sep 2010, 15:03
Where does the myth come from that imports are so high priced? If anything, a comparable domestic costs more than an import because of the higher overhead the domestic companies carry in union salaries and retirement packages. I have never done as well on a domestic purchase unless they are handing out huge rebates. That is not an accurate measure of the MSRP, however. Car to car, imports are usually a little less.
And also, why do you have trouble finding a good riding import? All of the imports I have owned, outside of small economy cars, have rivaled anything domestic for ride quality and sound. They are equal or better in all aspects of my driving experience.
28th Sep 2010, 09:56
No, I've owned my Tacoma for 14 years so far and GM was putting on a free event, so I'll give them kudos for that. They had a few Corvettes you could drive around a track for free. So I figured why not? I was not exactly impressed.
I too have gotten promotions and raises and in fact make a 6-figure income. So does my wife. I could quite easily afford any number of semi-exotic sports cars if I wanted to. But I like saving money and will one day soon buy our first house for cash and have quite a bit left over.
My Tacoma is well-built, rock solid dependable, and thus saves me lots of money. If I spent all my money on toys then I wouldn't have any savings. Then again most Americans do exactly that and blow it all on big TV sets, gadgets and cars. There is no rule that if you make lots of money that you automatically have to buy the most expensive car you can afford. Some of the richest people in the world drive absolutely mundane cars and live in utterly boring houses.
Even if I were to buy an expensive sports car, I sure as heck wouldn't be buying a Vette because for one thing I'd have to grow a mullet and secondly the things are simply overrated shoddy cars to begin with.