I’m going to stick my proverbial neck out and say that the new 2014 Chevy Corvette Stingray is going to just smoke all the sales projections for the car. It’s exactly what GM needs right now.
The price is fine for entry and even with all the bells and whistles, the Vette is still in the ballpark.
This is a lot of car for a reasonable amount of money.
I think the car deserves its Stingray badge. The exterior is more aggressive in tone, with a bit of an edge. From what I have seen, the interior will just blow you away. I can also tell you from personal experience that if the seats are now considered “World class,” we’re in for a real treat, because that’s been the weak link in our C6.
The F-1 approach to the driver’s ‘compartment’ was a very nice upgrade. The ergonomics are much better than previous designs.
Let’s hope they have a couple of cool colors that they will only offer for one or two years.
Drop in to your local dealer sometime in the next few weeks. They should start arriving any time now. I hope.
Daniel Acker | Bloomberg | Getty Images
This is nothing but great news for the U.S. auto industry. Once left for dead, GM and Chrysler are both back, producing wonderful cars and trucks. Ford, the perennial favorite, hasn’t really even skipped a beat.
With technology leading the way, the American auto industry stands to gain a tremendous amount of market share in the coming years. I believe that most of that gain will be at the expense of heritage Asian brands.
AP DETROIT— U.S. sales of cars and trucks rose in January, a strong start to what the auto industry hopes will be an extension of last year’s recovery.
In another good sign, sales to individuals were better than sales to fleet buyers such as rental-car companies, which are far less profitable for automakers.
Just yesterday, General Motors announced a 31 percent increase in the amount of shares the company is going to issue in common stock for their IPO tomorrow. It very possibly could become the largest IPO in history. This dramatic increase in issuance is due to the demand generated by the buzz associated with the offering. And it’s a buzz that is not all about just the financials. UPDATE FROM AP: GM’s landmark stock sale is now set to raise up to $22.7 billion, the biggest IPO in history.
I think it says a lot about the product offering. Dropping Saab, Saturn, Pontiac and Hummer has allowed the company to FOCUS their attention on their four remaining core brands: GMC, Chevrolet, Buick and Cadillac. GMC trucks are some of the best in the world, the Chevrolet and Buick brands are on fire and Cadillac is staying strong.
According to the company, year-to-date, combined sales of the Chevrolet Equinox, Chevrolet Camaro, Buick LaCrosse and Regal, GMC Terrain and Cadillac SRX and CTS Wagon are up 323 percent.
And today, even more good things to say. The highly anticipated VOLT has been named Car of the Year by Motor Trend and Automobile. I’m sure Car and Driver won’t be far behind. Without a single car having been delivered. Now that’s confidence in a product. Add to that, GE’s decision to buy 25,000 Volts by 2015 and you have a winner here.
The quality of the GM build today is second to none. Factories are in the best shape ever, utilizing build and production techniques that will assure buyers of a high quality product with minimal defects. Reliability and quality engineering is now a part of the overall message for all the brands. Take a look at some of the new GM advertising. Best in a long time.
So, tomorrow will be a good day, maybe even a great day, for GM. And they deserve it.
(Chevrolet’s SS concept, from GM’s North Hollywood Design Center.)
For those of you who are following the saga of sale or no sale for the automakers: this is NOT what I was suggesting at all. This kind of local stuff just gives me the heebie jeebies.
I just sense so much desperation in the art direction. Agreed?
General Motors — facing a deadline to restructure its beleaguered operations — will shut down 13 of its 20 North American plants for several weeks this summer to allow its dealers to sell down overstuffed inventories. The shutdowns will reduce GM’s planned North American output by 190,000 units.
As I said in my previous post on the topic, “If Retailers Can Do It, Why Not the Automakers?”, it’s time for a sale.
According to CNN, GM has about 767,000 vehicles in U.S. dealer stock. While that’s 12% lower than the inventory last year, GM sales are about half what they were last year at this time. So they have a lot of cars on the dock. Even more on dealer lots and on the tarmac. The need to get rid of all that excess inventory is now the rationale as to why they are shutting down 13 plants this summer.
To me, that inventory is an asset that can, and should, be sold. At a price that will MOVE THE MARKET. The company should be doing everything in its power from a pricing standpoint to move those vehicles to add cash to their bottom line. Instead, we get ‘value add’ satellite radio for a year and an extended warranty.
Does anyone really believe that the margins for the automakers are so minute that they cannot develop an aggressive retail sales strategy based on percentage discounts? We’re in the midst of a virtual depression in the auto industry, so it just seems to me that now is the time for GM to whip out the big guns.
This is a company that would rather put thousands of people out of work over the summer rather than offer up their product at a sales price.
Think about it.
By Joseph Young
I just don’t get it. Today, I read ANOTHER full page ad in The Washington Post from GM, touting their new TOTAL CONFIDENCE PLAN, complete with a deal for OnStar, an upgraded powertrain warranty, vehicle value protection (whatever that means) and the newest and most popular trick in the book, a payment protection plan should the buyer lose their job.
Nice stuff, but for me, I just like it simple. So, I have an idea. Lower your prices. Have a sale. 25% off all Pontiacs. 30% off all GMC trucks. Buy one, get one free. But you have to close the deal by the end of the month.
It’s that simple.
Sure, there are the folks that bought cars in the past few months that wouldn’t be very happy. Well, extend their warranty, or something like that. It’s so easy to think about why it wouldn’t work, but we all know it would. Long term, it might be an issue, but right now the writing is on the wall for these guys and they have to make a bold move.
It’s time for the Automaker Inventory Reduction Sale. Now through the end of the month.
Think about it. Today, there are a gazillion cars just sitting on docks all over the place. Things are so bad they are even storing them in airport parking lots, for Christ’s sake. Why not take all of that inventory and put the stuff ON SALE? Talk about getting cash flow moving again.
Dealers would be happy, because this would be a manufacturer driven sale. Customers would be happy because you would be speaking in a language they fully understand and can appreciate. And I would hesitate to think that the poor car salespeople just wouldn’t know what to do with themselves. It hasn’t exactly been nirvana for them lately.
Everyone loves a deal, but a deal that is clean and simple is to die for. All of these ‘creative’ new bullet points, complete with all of their disclaimer copy just confuse the issue at hand.
Can you imagine walking into a dealership today knowing that you were about to get a car for 30% under MSRP? Shoot, let’s go for 40%. They would just fly out the door.
If the retail establishment can do it, why not the automakers? From a competitive standpoint, it would just smoke the foreign competition. It would take virtually every sale off the table. It would be a Made in the USA home run for GM and Chrysler. But they better hurry. Time’s a wastin’.