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Subscribe to this threadGM posts $3.25 billion loss in Q1
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Paul P. @ Apr 30th 2008 10:38AM
Odd that GM is loosing money and Ford is making money. For the life of me I couldn't figure out what Ford's plan was, especially with the dull cars they've been putting out, but it seems to be working for them. GM, on the other hand, is making some awesome cars, but can't seem to profit from it. Weird how that works.
zamafir @ Apr 30th 2008 10:49AM
Well, ford doesn't have GMAC which will continue to drag GM into the red as long as the current economic 'it's not a recession cuz we haven't passed the six month period where the board meets and says "we've been in a recession"' ends.
Also, Ford, smartly, has been selling of marques which aren't a part of their core business, which is allowing them to focus on their core products and inject their numbers with large positive sales of said firms.
Randy @ Apr 30th 2008 1:11PM
Though Ford doesn't have GMAC they (because it's GM) they do have Ford Credit. No home mortgages from Ford Credit, they defer thous out to banks. Smart move.
How stupid is GM for being anti-diverse! Think about this for a moment. You make cars and trucks. Then you finance homes! Yeah it makes money for a while but when a recession (Now) hits, you're bleeding until the day the recession is over. By that time, the compounding effects of the poor diversification of the company have taken a stronghold and you're up for the highest bidder!
Tragedy @ Apr 30th 2008 11:49PM
LOSING, not "loosing". Jesus H Christ
Blake @ May 2nd 2008 12:02AM
@ Randy
"How stupid is GM for being anti-diverse! Think about this for a moment. You make cars and trucks. Then you finance homes!"
A automotive financing company that does home mortgages too? Doesn't that actually make them diverse? It's easy to complain about GMAC dragging them down now. But when the economy and housing market were booming, GMAC was a cash cow for GM. Hence, how they were able to make money by selling off such a large share.