GM's China success
Program Note: Tune in to hear more from John Vause about how GM is doing in China tonight on AC360° at 10 p.m. ET.
The president of GM China Group tells John Vause that General Motors is doing well in China.
While General Motors is facing bankruptcy, and asking for government help in the US and parts of Europe, in China the company is making a profit, and has been described as one of the last jewels in the GM crown. It has also sent a clear message to policy makers in the US that this is a company than can compete globally, it's a company worth saving.
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Filed under: auto bailout • John Vause • Road to Rescue |
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After living in China for half a year, I've seen first hand how the auto industry has impacted China. The sad thing is ... they're probably not doing anything differently from the US - China just has 1.3 billion people who, in the past decade, have become obsessed with trading their beautiful eastern culture for a culture that they see as "glamorous and successful" - western culture. This means owning a car, unfortunately, among other materialistic habits acquired. And now the Chinese are struggling with obesity, just like Americans. So ... perhaps the end is nearing for China's GM ... it's just a matter of time for the effects of the economy and the "living-above-the-means," superficial, disgusting and narcissistic way of living, which the West has deemed OK, to catch up with them and hit the world, head on.
time to rid these bad politians that OK the bailout
NO one should Have Receive these bailout except the home owner where as the government should have bought all the mortgages
The recipe is no EPA, no safety meausres, no minimum wage, etc. and a car STARVED market not yet used to having options.
It is not a picture of healthy success. It is early robber baron hits a wide open market with no governemnt or ethical restrictions. It will not last.
Look at a few vehicles first. I think you will find them very substandard by USA standards. Just as used USA vehicels seel good in Mexico doesn't mean the cars are better.
Her I am thinking as I read. "They what? Made an earning." I am surprised (more like astonished) by this type of news. So why do they not move all there operations to China (where they do not pay there employees 75$ an hour), then I remember that President Obama mentioned that he would not allow this type of activity (US Companies moving abroad, and having large tax exemptions). There for my questions is the following? Why don't the profits from another division (continent) help in the US market, other than the fact that they are run differently, or under an other S.A. (Sociedad Anonima, very similar but yet stronger than a LLC). I think it all goes comes down to the following. It is my tax money that someone is investing (if we can call it that) in them, why do they not invest there own money on themselves. I could be wrong taking into consideration how long my day has been.
So GM is making money in China–Are they putting these profits into their GM North America company??
Welfare bums!!!
It all just goes to show that every fluke can’t be a show stopper in Broadway.. and that China knows. Using ever progressive research and development, while at the same time caw boys reaped Aristocratic Union Wages, Multimillion Dollar bonuses, and treated everybody else like a bunch of Saps.. is in my opinion the other side of the equation that we are seeing now.
If the Feds are trying to encourage people to buy things on credit...like say cars...why have they not lowered the interest rate on cars. For a married couple with perfect credit, the interest rate was at 8% at the dealership...and you wonder why GM is falling through
What is China doing the US isn't ? How much American business have we sent to China and over seas ? Then again,want to thank China for their financial support.
If the GM is having success in China, then China has to give the recipe of cake for the rest of the other GMs.
The need is urgent!
Like I said in Beat 360, "If only China were smaller."
I mean what is our country coming to? We bail car companies out in the United States and we don't see anything like this over here? Can someone please answer these questions?
i saw this yesterday, and good for gm. atleast the chinese are buying it. i wonder how the asian car makers feel about this. they probably don't care since they have a large portion of the market cordoned off, and we all know chrysler's gonna eat it and not recover anytime soon.