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True. GM, Ford, and Chrysler gave up on globally competitive products.

 

All three stopped any effort to be globally competitive. The Fiat merger and Peugeot/Citroen merger helped Chrysler maintain an overseas presence of sorts, but even those are on a longterm downward trend. Ford and GM are seeing Chinese market shares under serious pressure, and their only reliable profit centers are ICE pickup trucks and SUVs in the US. That's an awfully narrow competitive window if fuel prices stay high long term or people just flat-out stop buying $70,000 pickups on 84-month loans. As for the EVs, used ones are cheap all day long, and the vast majority of US car buyers are used car buyers, not new.
Best,
Tim

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