GM fires thousands as sales in China fall a staggering 55%

GM fires thousands as sales in China fall a staggering 55%

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#gm #fires #evsales #chinaev #staggering #evnews

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[chadfaulkner]

As an American citizen i vote not to bail out gm

[nickmcconnell]

Let's hope that the next President realizes that bailing out GM is a fool's errand. GM has no competitive EVs to sell....bale them out to make what? What are you bailing out.... the UAW!
Much better if the govt just bales out the UAW directly. Seize and sell off the remains of GM and use those monies to guarantee UAW retirement pensions, and medical. Then retrain the ones still working to some other profession. This will much cheaper than bailing out GM itself to just have them go bust again.

[dc_model]

Barra should be fired with no gold umbrella

[flamencoguy]

GM under bad management. The entire management team should be let go. They didn't foresee the future. Starting with Mary Barra

[chriscain]

Selling legacy cars in a country so determined to go electric is big brain move for gm, good job

[GJP]

How is this CEO still has a job it's apparent she has no clue how to run a company

[Boris_Chang]

GM had a huge head start with respect to EVs with the EV1. Roger killed it at the behest of fossil fuel giants. For that, they can go belly up as far as I’m concerned.

[marke]

*General motor has some of the lowest efficiency factories in the world (we are not talking about the quality here yet) in contrast to chinese car makers such as Nio, XPENG, Xiaomi some of the most advanced factories in the world*

[dobbo]

GM voted to buy back an additional $6 Billion in shares, on top of last November’s $10 Billion stock price pump.

[Michael-yimc]

Working at McDonald’s has more tenure than working at GM.

[jlp]

General Motors' sales in China fell by 55% in the first half of 2024. In fact, in July this year, they fell by 85% in the Chinese market through SAIC-GM.

[Userkzb]

How come GM China doesn’t know their ground has been shaking for a while ?

[celanian]

Maybe GM should have put all the money they spent recently on stock buybacks on EV R&D instead.

[ChickensAndGardening]

It's sad that GM has fallen this far. In the 1990s, they were a leader in the electric car market, and produced over 1000 rechargeable EV1 cars for lease (originally lead-acid batteries, later NiMH). In 1999 they recalled all of them, crushed them, and ended the electric program until the Spark and then the Volt years later. It was a bean counter decision, adding in the cost of R&D to claim the cars were too expensive. Another in a long string of silly decisions by overpaid executives.

[cosmoray]

The only thing going for GM in China is their partnership with SAIC.
I totally agree. Their tech is dated and the design of their car is not exactly appealing.

[ronpatrick]

Years ago a GM employee told me that GM had all the jewels but couldn't make jewelry. I agree. GM has many superb employees and a command over many technologies but unfortunately is burdened with a lot of posing (ex. Barra with her "Elon Musk" look), clueless, and spineless bosses with no vision.

[Litt]

GM are OP here in our country and no one buys it.
Now they're putting huge discounts on their cars and still nobody wants them.
The reason is BYD Sealion 6 DM-i is here with a reservation that's nearing 600 units.
Sealion 6 was just released two weeks ago.

[DanielBos]

GM is being kept afloat by the sales of Baojun and Wuling (in which they have a minority share). If you look at e.g. Chevrolet, they're down 80%.

[DiegoMarquesBrazil]

Viking, I've read legacy automakers are turning their factories in China into exporting platforms to the world, as they don't sell more locally but still is the less costly place to build a car. Can we say China is winning 2 times? China's automakers are taking their market and others globally, but legacy automakers will still keep manufacturing in the country

[Harrythehun]

What can GM offer the Chinese companies? Nothing GM are toasted in Asia.