Tag Archive for Cars

China CLOBBERS The US In Auto Sales, Becomes GM’s Nirvana (Unless You Have To Breathe) – Wolf Richter- Testosterone Pit

The air in China can get so bad that the whole world talks about it. Though the government is taking the issue seriously and is doing a million things to get the fiasco under control, it remains unclear what exactly people will breathe ten years from now.

American Boondoggle Meets Chinese Methods – Wolf Richter- Testosterone Pit

Arnold Schwarzenegger, when he was Governor of California, used to go on begging missions to China; the state was running out of moolah, and he was trying to round up some investments (this year, it’s Gov. Jerry Brown’s turn). What they got was Shenzhen-based BYD, in which our favorite Uncle Warren Buffett, via Berkshire Hathaway, quickly took a 9.9% stake in 2009.

The Undead Corporate Welfare Programs For Automakers – Wolf Richter- Testosterone Pit

They’re at it again! The government wants to bring back a zombie. Originally created by Congress in 2007, the Advanced Technology Vehicle Manufacturing Program provided low-cost government loans that were subsidized, guaranteed, and then in part eaten, as we now know, by hapless and strung-out American taxpayers. Ford was the top beneficiary. While bragging vociferously…

At The Confluence of Free Money, Pent-Up Demand, And Reality- Wolf Richter- Testosterone Pit

New vehicle sales have staged a phenomenal recovery from the financial crisis, when buyers went on strike. Sales below the replacement rate create a vacuum that wants to be filled. Pent-up demand. When it kicked in, sales jumped by over 10% annually. Exuberance took over the bludgeoned industry. But late February, something happened to that…