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GM analyst predicts solid November US sales

journalstar.com -- U.S. auto sales could top an annual rate of 10.8 million in November, General Motors Co.'s top sales analyst said Thursday. That would mark the first month this year that sales jumped to such levels without the aid of Cash for Clunkers rebates, which boosted sales in July and August. Executive Director of Market Analysis Mike DiGiovanni says the industry is having a solid sales month through the first 19 days of November, another sign that the economy is beginning a slow recovery from recession. He also said GM could see its fourth straight month of market share gains in November.

Others are a bit less bullish


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Submitted Nov 19, 2009 By: CarrottopNe
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Author Topic: GM analyst predicts solid November US sales Post a Reply Back to Topics
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Blue48 Car icon
Champion Author Illinois

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Message Posted: Nov 22, 2009 5:19:18 PM

OK!
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Champion Author Tallahassee

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Message Posted: Nov 20, 2009 11:43:42 PM

kelsielee... you're right, too bad that some have to spout their hatred and their political opinions rather than sticking to what's on hand.
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Champion Author Atlanta

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Message Posted: Nov 20, 2009 6:10:23 PM

Let's hope that the analyst is correct. As usual, some posters use this as a forum to spout their politics rather than commenting on the story itself.
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Champion Author Orange County

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Message Posted: Nov 20, 2009 12:51:56 PM

Not exactly known for their insight into the future.
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Champion Author Tallahassee

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Message Posted: Nov 20, 2009 6:55:45 AM

judgemobile: before you spout things off, check your facts. GM is a car manufacturing company and as such is not a bank.

The arm of GM that was a banking service was GMAC which was sold to Cerberus early in 2009. With Cerberus holding the majority stake in GMAC, it is NOT government owned but it is indeed a banking institution.

GM is no longer holding much of GMAC - just enough to have GMAC still finance vehicles sold by GM franchised dealerships.
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Champion Author Tallahassee

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Message Posted: Nov 20, 2009 6:52:22 AM

time will tell. I'm not holding my breath.
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Champion Author Alberta

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Message Posted: Nov 20, 2009 1:36:31 AM

Let's see what the final results are for November. If it is up then it was a short hangover after Cash for Clunkers and the naysayers were politically motivated and ignored economics and facts.
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All-Star Author Georgia

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Message Posted: Nov 20, 2009 12:19:05 AM

Let's see what the report says after the fact.
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Champion Author Michigan

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Message Posted: Nov 20, 2009 12:01:39 AM

judgemobile: There is no stress test for GM. You are talking about GMAC which is a Cerebus Capital Management company having bought 51% from GM in 2006. GM actually has less than 10% of GMAC now.

Cerebus also controls Chrysler Financial. Cerebus may end up losing both as it did Chrysler before it is over.

BOTTOM LINE

GMAC IS NOT GM - GM HAS NOT FAILED ANY STRESS TEST
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Sophomore Author Los Angeles

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Message Posted: Nov 19, 2009 11:56:51 PM

bigreddwg, that is easy to say.
I bet you have not bought a GM in years.

That said, I doubt the actual GM sales will meet the projected sales.
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Champion Author Indianapolis

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Message Posted: Nov 19, 2009 11:53:28 PM

That is what they hope to sell, we will see when they report their real sales after the end of the month. If they built better quality cars they would sell more cars.
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Champion Author Toronto

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Message Posted: Nov 19, 2009 11:52:17 PM

Solid compared to exactly what ?
GM has a reprieve, but much like Chrysler, has GOT to sell cars that are not accessory loaded (therefore less cost to buy, and repair), and that emphasize outstanding fuel economy. That is NOT 30 miles per gallon, but over 50, much like Europe. We don't need 0-60 in 6 seconds anymore.
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Champion Author Tampa

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Message Posted: Nov 19, 2009 11:52:14 PM

I DON'T PLAN TO BUY FROM A CORRUPT COMPANY THAT BORROWED FROM OUR GOVERNMENT AND THEN TURNED AROUND AND TREATED ITS CEOs TO BONUSES AND TRIPS!!
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Champion Author Twin Cities

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Message Posted: Nov 19, 2009 11:51:46 PM

Good call after nineteen days into the month. I expect the Vikings to make the playoffs too.
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Champion Author Ohio

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Message Posted: Nov 19, 2009 11:48:51 PM

GM (Government Motors) analyst is on O'Bummer's payroll, because company is 61 % government owned, and they are ONLY company to fail "stress" test, meaning they will need MORE bailout money. Analyst will say WHATEVER HE IS TOLD, because his continued employment is dependent on that.
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Champion Author Pittsburgh

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Message Posted: Nov 19, 2009 11:43:54 PM

Quality is the problem for GM.
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All-Star Author Virginia

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Message Posted: Nov 19, 2009 11:41:42 PM

This analyst sounds more like a spin doctor.
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Champion Author Baton Rouge

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Message Posted: Nov 19, 2009 11:40:06 PM

Good. Maybe they can buy the government out and take control and responsibility for themselves.
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Champion Author Mississippi

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Message Posted: Nov 19, 2009 11:32:44 PM

dream on, with unemployment continuing to be horrible no hope for a huge rise in auto sales. that is until the gov't gives more of our money away to provide cars to all.
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Champion Author Los Angeles

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Message Posted: Nov 19, 2009 11:28:06 PM

GM is now part of the all talk no action administration. Time will tell the truth.
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Champion Author Alberta

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Message Posted: Nov 19, 2009 11:27:32 PM

I can see it, they are give away many 2009's at basement sell-offs to get rid of there unwanted cars and trucks.

ie, Pontiacs, and anything else that discontinued.
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Champion Author Toronto

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Message Posted: Nov 19, 2009 11:21:34 PM

Solid car sales usually means dismal sales elsewhere. How are people paying for that new ride in the drive? By cutting back on other expenditures like eating out and not buying that new big screen tv or latest and greatest computer.
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Veteran Author Chicago

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Message Posted: Nov 19, 2009 11:20:02 PM

hope he doesn't count his chickens, i won't buy another gm car new until they improve quality and cut back prices
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Champion Author Halifax

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Message Posted: Nov 19, 2009 11:10:22 PM

Maybe it is employees like this analyst that put GM in the position its in.
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Champion Author Seattle

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Message Posted: Nov 19, 2009 11:09:06 PM

Hope so, and hope Chryslers sales take off even more!
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Champion Author Colorado Springs

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Message Posted: Nov 19, 2009 11:08:05 PM

Good luck!
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Champion Author Las Vegas

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Message Posted: Nov 19, 2009 11:06:12 PM

I doubt these claims. The economy is still in dire shape as it is still losing jobs.
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Champion Author Columbia

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Message Posted: Nov 19, 2009 11:05:00 PM

Is it just me or did everybody at GM have a lobotmy?
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Champion Author Los Angeles

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Message Posted: Nov 19, 2009 11:04:09 PM

Time will tell..
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Champion Author Dayton

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Message Posted: Nov 19, 2009 11:01:11 PM

GM could be lying also. They've been known to do that in the past, and we believed them.
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Champion Author Orange County

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Message Posted: Nov 19, 2009 10:55:18 PM

They are not always right.
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Champion Author Omaha

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Message Posted: Nov 19, 2009 10:54:36 PM

Go Camaro go
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Champion Author Toronto

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Message Posted: Nov 19, 2009 10:48:27 PM

Share gains would be good to see. They're making some good products now. They need to if they want to get into the black.
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Champion Author Buffalo

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Message Posted: Nov 19, 2009 10:43:43 PM

Good, maybe there will once again be competition in the American auto market.
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Champion Author Dayton

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Message Posted: Nov 19, 2009 10:37:40 PM

But still losing money and sending our money over seas
YUK
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Champion Author Pittsburgh

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Message Posted: Nov 19, 2009 10:30:16 PM

I wish them luck.
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All-Star Author Oregon

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Message Posted: Nov 19, 2009 10:27:28 PM

We will see this winter what happens. THe Obamacare may take all our money.
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Champion Author Illinois

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Message Posted: Nov 19, 2009 10:23:53 PM

We'll see for high long this lasts. They have terrible track record lately with producing cars that consumers want.
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Champion Author Indianapolis

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Message Posted: Nov 19, 2009 10:23:13 PM

Imagine that..............sales increased without the HELP????????????? of the US government. Can that be possible? I hope Obama is paying attention and will keep his govt. paws out of private business.
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Champion Author Virginia Beach

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Message Posted: Nov 19, 2009 10:17:58 PM

Apparently they still have a long way to go from a quality standpoint. While the testing agencies have increased some of their standards this year, GM did not have a product that was able to meet these standards. They are going to have to work on that for next year if they want to be successful and profitable in the long term.
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Champion Author New Haven

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Message Posted: Nov 19, 2009 10:14:15 PM

GM still hasn't proven it's a company with quality autos consumers want.
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Champion Author Houston

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Message Posted: Nov 19, 2009 10:10:05 PM

I wonder how many of their sales this month were with zero percent financing and no or little down payment with GMAC ??
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Champion Author Michigan

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Message Posted: Nov 19, 2009 10:09:10 PM

GM has a positive cash flow, and is planning to pay back the first installment on the loan from the Bush administration.
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Champion Author Portland

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Message Posted: Nov 19, 2009 10:01:38 PM

GM analyst also predicted they would survive without government handout.
NEWS FLASH: GM analysts don't have good track record of picking cars that Americans want.
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Rookie Author South Carolina

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Message Posted: Nov 19, 2009 9:57:11 PM

Yea, dont get too happy too soon!
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Champion Author Michigan

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Message Posted: Nov 19, 2009 9:48:29 PM

What is going to happen now that they have kept OPEL? More cost. I think G.M.is wishful thinking.
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Veteran Author Texas

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Message Posted: Nov 19, 2009 9:46:50 PM

Good, then they can start paying off the massive loan from the Gov't
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Veteran Author Indiana

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Message Posted: Nov 19, 2009 9:46:21 PM

I'm not sure I'd consider 10.8 mn units "solid". Still off something like 15% from two years ago.
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Champion Author Lexington

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Message Posted: Nov 19, 2009 9:43:34 PM

I don't care . NO UAW car for me---ever again.
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Champion Author San Antonio

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Message Posted: Nov 19, 2009 9:43:07 PM

Well, we need to see if the GM analyst is right in his prediction that the U.S. auto sales will top the annual rate of 10.8 million cars sold in November. If he is right, does he get a bonus like the Bank and Insurance people get after they got bail out money?
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