What Elon Musk meant when he said GM would go bankrupt...

What Elon Musk meant when he said GM would go bankrupt...

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#elonmusk #gm #tesla #bankruptcy

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[gregkelmis]

I’m 62 years old, one of my close friends, father had invested in a bond to General motors, and basically was a large percentage of his retirement, and when the bill out came, he was told it to you no longer was all that money, not any percentage of it not interest on it not the principal nothing government bail out so somebody’s retirement simply evaporates. Yeah, let Jim fall.

[roblake]

Like the channel. Love the FROG picture! Thanks

[hartfischer]

Bailing GM out was actually more so a bailout of the UAW Union. GM could have been restructured in bankruptcy court, no need to charge the taxpayers. That bailout is going to happen again, and we already see the rhetoric by the same politicians that did the first bailout. GM should be forced to pay back those $11 billion that they cost the taxpayer.

[PeterXiao]

Since the rise of EV and PHEV, GM isn't cool anymore in China. Nor is Toyota

[dougphillips]

In a capitalist system, the weak die. Bailing out GM goes against everything in a capitalist system. The weak giant will fall again.

[yvan]

I only have one thing to say about GM: Who Killed the Electric Car?

[JamesBrown-oogz]

GM FORD CHRYSLER all legacy brands have taken advantage of consumers for decades planned obsolescence. 😊 glad to see its coming to an end soon.

[coolandmellow]

So why don't they fire these freaking CEOs.They praise these mofos when it's COVID free money, free bail out .Poor performance should be equally punishable

[shepherdsknoll]

GM or whomever, could produce a car competitive with Tesla but trying to charge them at other than your own home is a nightmare.
If GM ever tries to get another bailout, I will be one of many who will be at my city center protesting.

[johnwilson]

Re Wuling. How is it that GM can claim those sales as their own? Yes, they own approx 33% of the Company but the Wuling car is NOT made by GM. It is made by SAIC/Wuling, using SAIC drivetrains etc. As far as I'm aware, no GM components go into the Wuling Car! (Please correct me if I'm wrong) Plus, since the car sells for less than $10, 000 (around $6000) the "profit" on the thing is not great! So the high numbers sold do not tell the real story.

[ainschuntayleuhn]

Bailing out Companies that repeatedly make Bad Decisions shouldn’t be bailed out.

[mnml]

Economic headwinds in China must be putting pressure on all car brands over there. Tesla's price cuts in China and here in US must be making GM sweat bullets. I would expect GM to be thinking seriously about bailouts in next few years, telling Congress that if they go bust it'll cost many 1000's of jobs. I don't see GM surviving the next 5 years though.

[horatius]

If GM is loosing markets is because they are not doing things well period.

[whowhy]

GM has actually invested very little in EV’s. They just talk. They are going to invest… planning to invest….
Mary talks a lot but there is very little action.

[buixote]

Auto Industry Bailouts: Socialism for the Rich. Shows the commitment of US Politicians to *capitalism* . Harumph!

[realestatenow]

Unfortunately, GM on occasion comes up with good vehicles and texhnologies but then give up on them: EV1, Saturn, Volt, 2000-2007 Silverado/sierra.

[ericliume]

GM does a lot of talking than doing. BYD doesn't the total opposite, a lot more doing than talking.

[Firestorm]

Look how long GM kept losing Saturn division. Poor management.

[krisvandermeulen]

Government motors decided to leave Europe by seeking the Opel/Vauxhall brand to PSA - which later became Stellantis group. They found the EU market not profitable enough but Stellantis had no problem in getting Opel profitable again in short time. Conclusion: GM is bad at management...

[davidmcdonald]

When Tesla comes for the truck segment there goes a lot of money. The Equinox late this year will bolster electric sales, though it specifically may not do well.