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Old 2nd April 2014, 09:33   #46
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Default Re: Losses pile up for General Motors, Ford, Honda

Not sure if this post deserves a new thread. Came across this interesting article in ndtv.com

http://www.ndtv.com/article/world/ge...ome-topstories


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General Motors Co in 2005 decided not to change an ignition switch eventually linked to the deaths of at least 13 people because it would have added about a dollar to the cost of each car, according to an internal GM document provided to U.S. congressional investigators.
This doesn't sound good for them. I see their future bleak
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Old 2nd April 2014, 12:00   #47
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Default Re: Losses pile up for General Motors, Ford, Honda

Was just about to post the same thing. What a unethical thing to do. 13 people who trusted the company with their hard earned money lost their lives just because the car company cannot absorb 1$ extra and a $40,000 (IIRC) additional tooling cost which would anyway be amortized and be beaten to death till the dies wear out. Sorry to say this, but companies with such attitude need to go to the grave. And the top lady had the audacity to say that it came to her notice only recently.

If they can pull off such a stunt in the US itself, imagine what kinds of things would have happened here in India where the consumer has no protection.
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Old 3rd April 2014, 06:28   #48
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Originally Posted by Abhi_abarth View Post
Not sure if this post deserves a new thread. Came across this interesting article in ndtv.com

This doesn't sound good for them. I see their future bleak
To save $1 per car, GM was OK in having credit to the doves for killing 13 innocent lives. What a shame and nothing as an exvuse can and should be accepted when it comes to safety and saving of lives.

This article should be circulated ask over to let people know what GM think about human safety.

Shameless guys.

Anurag.
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Old 3rd April 2014, 10:31   #49
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Default No New models for GM India till 2017 !

Newly appointed MD & President of GM India Mr.Arvind Saxena in an interview with Siddharth Vinayak Patankar states there aren't new model launches until 2017

Given this, I only see the losses pilling up. They are in need of new and appealing products with futuristic designs.



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GM does have a reasonably well-populated portfolio, though he agrees that all the vehicles may not be as relevant as some of those offered by his rivals. Of course the need of the hour is a subcompact sedan and SUV - to rival the Swift Dzire and EcoSport respectively. But GM will not be driving in an all-new car till 2017 from the looks of things. The first car may well be the Adra concept shown at the Expo (sub-4 metre sub-compact SUV). So in the meanwhile, the focus is going to be on expanding the Chevrolet footprint across India, and recharging the existing vehicle line-up. Minor facelifts on the Beat and Cruze have recently driven in, and it will be these two cars that will lead that charge.
Source : http://auto.ndtv.com/news/exclusive-...e-otherstories

Video link to the interview : http://auto.ndtv.com/videos/exclusiv...-s-head-315580
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Old 3rd April 2014, 11:20   #50
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Default Re: Losses pile up for General Motors, Ford, Honda

Quote:
Originally Posted by Abhi_abarth View Post
Not sure if this post deserves a new thread. Came across this interesting article in ndtv.com

http://www.ndtv.com/article/world/ge...ome-topstories




This doesn't sound good for them. I see their future bleak
I put up this article on the International Cars Forum Recall page.

The alarming fact is that report by the Center for Auto Safety has put the number at 303, a number which GM refutes.

The whole article is at http://www.bbc.com/news/business-26827824
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Old 3rd April 2014, 12:11   #51
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Default Re: No New models for GM India till 2017 !

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Originally Posted by Abhi_abarth View Post
Newly appointed MD & President of GM India Mr.Arvind Saxena in an interview with Siddharth Vinayak Patankar states there aren't new model launches until 2017
What is there to be shocked? Read the below line and you'll connect the dots for the 2017 being the year for the next new model err new Boss to blame the previous regime

"GM has a retirement age of 60, which gives Arvind just about 3 years to really implement a turnaround."

With the current model line up they should be happy to retain half of their Dealers in 2017.
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Old 3rd April 2014, 19:49   #52
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Default Re: Losses pile up for General Motors, Ford, Honda

News for earlier in the day

The Indian subsidiary of US auto major General Motors(GM) has run up losses of Rs 746 crore in the last financial year, according to documents the company filed with the Registrar of Companies last week. It sold 1.1 lakh cars last year taking a Rs 67,600 loss on every car sold.

http://articles.economictimes.indiat...tra-sedan-aveo
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Old 3rd April 2014, 22:33   #53
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It sold 1.1 lakh cars last year taking a Rs 67,600 loss on every car sold.
Half of those 1.1Lakh vehicles would have been affected by endless recall so losses are natural. GM India can forget the market now and return to US.

Revamp to the cars is needed with more practical, reliable, honest products to cater out than having an head strong attitude.

Anurag.
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Old 26th November 2014, 12:34   #54
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Default Re: Losses pile up for General Motors, Ford, Honda

Something interesting:
http://economictimes.indiatimes.com/...w/45264861.cms

Surprisingly VW, Nissan are making profits in India with low volumes as well.




Surprised to see that Honda & Toyota are making losses. How come Toyota making losses? All their cars are costly IMO. Their largest sellers Innova & Fortuner are really costly than the competition. Not sure why it is happening.

Last edited by aniketi : 26th November 2014 at 12:37.
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Old 26th November 2014, 15:15   #55
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Default Re: Losses pile up for General Motors, Ford, Honda

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Originally Posted by aniketi View Post
Surprisingly VW, Nissan are making profits in India with low volumes as well.
I think we are including export volume also. Nissan makes big export from India, volumes are quiet high than their national sales. This is also explained in the news article.
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Old 26th November 2014, 15:59   #56
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Default Re: Losses pile up for General Motors, Ford, Honda

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Originally Posted by aniketi View Post
Surprisingly VW, Nissan are making profits in India with low volumes as well.
VW's strategy is simple, they depend on exports.
VW currently export every second car it makes at its Pune plant.
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Old 26th November 2014, 16:03   #57
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Default Re: Losses pile up for General Motors, Ford, Honda

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Originally Posted by PetrolRider View Post
I think we are including export volume also. Nissan makes big export from India, volumes are quiet high than their national sales. This is also explained in the news article.
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Originally Posted by volkman10 View Post
VW's strategy is simple, they depend on exports.
VW currently export every second car it makes at its Pune plant.
Agreed here, but surprised to see Honda & Toyota doing losses. I thought Toyota must be doing some hefty profits but in reality they are not. Honda also has some decent numbers in terms of sells but they are still making losses.
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Old 26th November 2014, 16:04   #58
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Default Re: Losses pile up for General Motors, Ford, Honda

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Originally Posted by aniketi View Post

Surprisingly VW, Nissan are making profits in India with low volumes as well.
.
Nissan for example, compared to their domestic sale of 38,000 in FY 13-14, exported about 1,16,000 cars, that is even more than MSIL.
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Old 26th November 2014, 16:17   #59
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Default Re: Losses pile up for General Motors, Ford, Honda

If these figures are indeed correct then there must be some other parameter at play here. I cannot accept that Toyota is making a loss in our market. We all clearly see that there cars have the highest price tag in the segment and lowest number of gadgets and safety features. The Innova and Fortuner are really low on equipment w.r.t. there price tags. And both vehciles are still selling like hot cakes month after month. Is there any reason for showing losses in books in order to save on taxes or something?
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Old 26th November 2014, 16:44   #60
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Default Re: Losses pile up for General Motors, Ford, Honda

The loss figures include the investments made by the company, which are yet to return profit, right? Toyota's losses include the investments on such average sellers as Etios twins, and upcoming launches such as Innova and the Etios replacement.
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