Sell your GM stock

[Gordo]

But there is still Cadillac, who is promising an F1 engine for Andretti...
Can't wait to see what a cluster duck that's going to be...

 

[OutlawStar]

I don't think it's about ICE. It's about suv/truck sales out numbering cars 5:1

QFT. This thread is very similar to that thread about the power grid almost going down and several others pointing out its easy to cry about the sky falling over a nothingburger. Not the first automaker stopping car/coupe/sedan sales because NOBODY IS BUYING THEM but lets stary crying about how the government controls GM, is cancelling V8 sedans few people buy and EV's are the debbil, Bobby Boucher!

Good grief, Charlie Brown, the only semi-rational statement is "What about NASCAR" and that too is a who actually cares? Nobody cared when the Ford teams had to go from whatever they used to the 500, to Fusion, or to the Mustang. All of those car bodies are probably 98% similar with different decals on them anyway, they'll just standardize a vehicle body if all manufacturers stopped making all cars and tell the teams to put whatever fake headlight decals they want.

As someone actively shopping for a cool, fun, V8 or I6 manual transmission car, I get it. They're like searching for morel mushrooms at the garbage dump. But crying about a manufacturer making a business decision to discontinue unpopular models is mind boggling.

 

[oldag]

Sad thing is that most guys who can afford a Vette are too fat to get in one.

Okay, getting a little personal there...

I could fit behind the wheel, but my knees gave me heck getting in and out.

 

[oldag]

QFT. This thread is very similar to that thread about the power grid almost going down and several others pointing out its easy to cry about the sky falling over a nothingburger. Not the first automaker stopping car/coupe/sedan sales because NOBODY IS BUYING THEM

1Q2024: Malibu the third best selling car in the US, with 33,000 sold in the quarter. Over twice the Traverse sales for the same quarter, as one point of comparison. Yes, more pickups were sold. But 33,000 is still a significant number.

So your assertion that nobody is buying them is incorrect.

 

[Havok1]

1Q2024: Malibu the third best selling car in the US, with 33,000 sold in the quarter. Over twice the Traverse sales for the same quarter, as one point of comparison. Yes, more pickups were sold. But 33,000 is still a significant number.

So your assertion that nobody is buying them is incorrect.

3rd out of 7. How many people do you know buying malibus, or any of the other cars? Malibu sales were down 12% in q1 2024 vs q1 2023, and the only sedan that didn’t see a drop was the Camry. So the assertion that nobody is buying them is absolutely correct. Like I said previously, GM is not the first manufacturer to eliminate its sedans due to declining popularity.

 

[no2gates]

I like performance sedans, gasoline burning V8's, and manual transmissions. Talk about a shrinking list of options.

That combo today is like this unfortunately:

 

[oldag]

3rd out of 7. How many people do you know buying malibus, or any of the other cars? Malibu sales were down 12% in q1 2024 vs q1 2023, and the only sedan that didn’t see a drop was the Camry. So the assertion that nobody is buying them is absolutely correct. Like I said previously, GM is not the first manufacturer to eliminate its sedans due to declining popularity.

Wow. 33,000 is a lot of nobodies.

And they are not eliminating their sedans. They are merely changing from ICE to EV.

 

[OutlawStar]

1Q2024: Malibu the third best selling car in the US, with 33,000 sold in the quarter. Over twice the Traverse sales for the same quarter, as one point of comparison. Yes, more pickups were sold. But 33,000 is still a significant number.

So your assertion that nobody is buying them is incorrect.

As someone who drove a malibu for years, 33,000 is a bad number in terms of auto sales for a manufacturer. I've heard from auto-industry insiders it generally costs billions of dollars to make a new model car even if they've been making it for decades such as the Malibu or Civic. New production line, new molds, new parts, R&D, on and on. Total new car sales in the US for 2023 was 15.2 million units total, so say 3.8mil per quarter. Malibus made up 0.8% of all sales in 2023. I'd say thats statistically nobody. Take away the zeros: 3800 total lunches served, 33 of them were Spaghetti plates. Are you keeping spaghetti on the menu when there were 2000 hamburgers being sold?

As I started off by saying, I drove a malibu for years. I think my company alone had something like 6000 total malibus leased through a fleet company, who likely had other customers. You can't discount fleet sales who buy them by the hundreds or thousands at a time. I know a sale is a sale, but when you buy 100 cars you generally pay less than if you're buying 1. See the Lincoln town car, and Crown Victorias. Dual purpose chassis, sold like hotcakes for decades to limo companies, taxi companies, and police departments. Malibu doesn't come close to meeting those numbers and if they're just running it out until they break even on total production before final cancellation that just makes sense. Even those same limo companies have moved to SUVs and have moved away from full size cars. Only places I'm aware of still buying tiny crapboxes like a malibu are car rental companies, and companies still doing company cars for employees.

I'm not really finding where the malibu is the third best selling 'car' in the country; especially not when its competing with stuff like a Camry, Accord, Civic, Subaru Crosstrek, Corolla, hell a Tesla 3. All cars that are selling in the hundreds of thousands of units per year regularly seen in the top 20 vehicle sales. Do you have a link supporting its somehow the third best seller in the country? I'm just looking at total 2023 sales in the US.

 

[Gordo]

Waiting for EV NAZKAЯ.
Want to see how fast they can change batteries during a pit stop.

 

[oldag]

As someone who drove a malibu for years, 33,000 is a bad number in terms of auto sales for a manufacturer. I've heard from auto-industry insiders it generally costs billions of dollars to make a new model car even if they've been making it for decades such as the Malibu or Civic. New production line, new molds, new parts, R&D, on and on. Total new car sales in the US for 2023 was 15.2 million units total, so say 3.8mil per quarter. Malibus made up 0.8% of all sales in 2023. I'd say thats statistically nobody. Take away the zeros: 3800 total lunches served, 33 of them were Spaghetti plates. Are you keeping spaghetti on the menu when there were 2000 hamburgers being sold?

As I started off by saying, I drove a malibu for years. I think my company alone had something like 6000 total malibus leased through a fleet company, who likely had other customers. You can't discount fleet sales who buy them by the hundreds or thousands at a time. I know a sale is a sale, but when you buy 100 cars you generally pay less than if you're buying 1. See the Lincoln town car, and Crown Victorias. Dual purpose chassis, sold like hotcakes for decades to limo companies, taxi companies, and police departments. Malibu doesn't come close to meeting those numbers and if they're just running it out until they break even on total production before final cancellation that just makes sense. Even those same limo companies have moved to SUVs and have moved away from full size cars. Only places I'm aware of still buying tiny crapboxes like a malibu are car rental companies, and companies still doing company cars for employees.

I'm not really finding where the malibu is the third best selling 'car' in the country; especially not when its competing with stuff like a Camry, Accord, Civic, Subaru Crosstrek, Corolla, hell a Tesla 3. All cars that are selling in the hundreds of thousands of units per year regularly seen in the top 20 vehicle sales. Do you have a link supporting its somehow the third best seller in the country? I'm just looking at total 2023 sales in the US.

https://gmauthority.com/blog/2024/0...umbers-figures-results-first-quarter-2024-q1/

And again, if your proposal that the only issue is people not buying passenger cars, then why is Chevy proceeding with EV passenger cars? You seem to have ignored this.

33,000 cars at ~$30k each is $990M in sales for the first quarter. Or $825 M at $25k each. That ain't peanuts.

 

[ZX9RCAM]

From 2021....

General Motors plans to exclusively offer electric vehicles by 2035

 

[Havok1]

Wow. 33,000 is a lot of nobodies.

And they are not eliminating their sedans. They are merely changing from ICE to EV.

Not really. They are the 3rd most popular vehicle in a category where 6/7 have declining sales. How many people do you know that bought one or more of the 33k vehicles? What about any other sedan in recent years?

 

[OutlawStar]

https://gmauthority.com/blog/2024/0...umbers-figures-results-first-quarter-2024-q1/

And again, if your proposal that the only issue is people not buying passenger cars, then why is Chevy proceeding with EV passenger cars? You seem to have ignored this.

33,000 cars at ~$30k each is $990M in sales for the first quarter. Or $825 M at $25k each. That ain't peanuts.

I don't know why GM is proceeding with EV sales at all other than they had lukewarm reception with the Volt (I think thats the EV, not the Bolt?) then discontinued it, then EV sales took off, then began to cool again, then they reintroduced the Volt to capture EV marketshare because everyone was demanding <$40k EVs for regular every day use and now sales are dropping across the board for EVs. And yes, $1billion in revenue is peanuts for a company like GM. Compare that to the very best selling US vehicle in the US: the Ford F-150. 573,370 units sold. The average price of a new Ford F-150 is $59,650. Thats $34,201,520,500.00 of revenue. I'm a Ford guy myself and I know Chevy (GM) is #2 pickup truck in the country. Mind you, these numbers are both gross sales figures, and not necessarily profit. But most people know an automaker makes much more profit on a $50k+ truck both through the sale of it and financing than they ever will on a $28,000 Malibu.

My only guess is they're all billions in the red on EV tech and might as well try selling anything they possibly can instead of flushing it all down the toilet. I'm not certain GM even knows what they're doing: Cybertruks are selling for $140,000. I think GM's new EV hummer is supposed to be like $200,000. In what world does a $200,000 EV hummer make sense to anyone? In what world does a $35,000 EV with a $15,000 battery make sense to the average consumer in that price segment? Those are questions for the EV thread because stopping sales of sedans and cars has little to nothing to do with EVs and I don't' wish to derail the thread.

This is the spaghetti-hamburger example before. If you're selling 33-times more hamburgers that have more profit each time one is sold, why does your restaurant sell spaghetti plates at all?

 

[oldag]

My only guess is they're all billions in the red on EV tech and might as well try selling anything they possibly can instead of flushing it all down the toilet. I'm not certain GM even knows what they're doing:

That is true.