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GM analyst predicts solid November US sales

journalstar.com -- U.S. auto sales could top an annual rate of 10.8 million in November, General Motors Co.'s top sales analyst said Thursday. That would mark the first month this year that sales jumped to such levels without the aid of Cash for Clunkers rebates, which boosted sales in July and August. Executive Director of Market Analysis Mike DiGiovanni says the industry is having a solid sales month through the first 19 days of November, another sign that the economy is beginning a slow recovery from recession. He also said GM could see its fourth straight month of market share gains in November.

Others are a bit less bullish

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Submitted Nov 19, 2009 By: CarrottopNe

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Blue48 Champion Author Illinois Posts:2,635 Points:667,845 Joined:Feb 2007	Message Posted: Nov 22, 2009 4:19:18 PM Ignore Blue48 Report Abuse OK!
honda0105 Champion Author Tallahassee Posts:10,722 Points:628,375 Joined:Nov 2008	Message Posted: Nov 20, 2009 10:43:42 PM Ignore honda0105 Report Abuse kelsielee... you're right, too bad that some have to spout their hatred and their political opinions rather than sticking to what's on hand.
kelsielee Champion Author Atlanta Posts:3,384 Points:664,100 Joined:Sep 2008	Message Posted: Nov 20, 2009 5:10:23 PM Ignore kelsielee Report Abuse Let's hope that the analyst is correct. As usual, some posters use this as a forum to spout their politics rather than commenting on the story itself.
YLHandyman Champion Author Orange County Posts:4,589 Points:830,745 Joined:Feb 2008	Message Posted: Nov 20, 2009 11:51:56 AM Ignore YLHandyman Report Abuse Not exactly known for their insight into the future.
honda0105 Champion Author Tallahassee Posts:10,722 Points:628,375 Joined:Nov 2008	Message Posted: Nov 20, 2009 5:55:45 AM Ignore honda0105 Report Abuse judgemobile: before you spout things off, check your facts. GM is a car manufacturing company and as such is not a bank. The arm of GM that was a banking service was GMAC which was sold to Cerberus early in 2009. With Cerberus holding the majority stake in GMAC, it is NOT government owned but it is indeed a banking institution. GM is no longer holding much of GMAC - just enough to have GMAC still finance vehicles sold by GM franchised dealerships.
honda0105 Champion Author Tallahassee Posts:10,722 Points:628,375 Joined:Nov 2008	Message Posted: Nov 20, 2009 5:52:22 AM Ignore honda0105 Report Abuse time will tell. I'm not holding my breath.
RobRD Champion Author Alberta Posts:3,828 Points:896,020 Joined:Jul 2007	Message Posted: Nov 20, 2009 12:36:31 AM Ignore RobRD Report Abuse Let's see what the final results are for November. If it is up then it was a short hangover after Cash for Clunkers and the naysayers were politically motivated and ignored economics and facts.
QuentD All-Star Author Georgia Posts:763 Points:491,000 Joined:Nov 2006	Message Posted: Nov 19, 2009 11:19:05 PM Ignore QuentD Report Abuse Let's see what the report says after the fact.
fordmexico Champion Author Michigan Posts:2,142 Points:180,650 Joined:Oct 2009	Message Posted: Nov 19, 2009 11:01:39 PM Ignore fordmexico Report Abuse judgemobile: There is no stress test for GM. You are talking about GMAC which is a Cerebus Capital Management company having bought 51% from GM in 2006. GM actually has less than 10% of GMAC now. Cerebus also controls Chrysler Financial. Cerebus may end up losing both as it did Chrysler before it is over. BOTTOM LINE GMAC IS NOT GM - GM HAS NOT FAILED ANY STRESS TEST
BurtB Veteran Author Los Angeles Posts:256 Points:651,445 Joined:Jun 2006	Message Posted: Nov 19, 2009 10:56:51 PM Ignore BurtB Report Abuse bigreddwg, that is easy to say. I bet you have not bought a GM in years. That said, I doubt the actual GM sales will meet the projected sales.
FastAndy Champion Author Indianapolis Posts:4,216 Points:1,112,570 Joined:Jun 2007	Message Posted: Nov 19, 2009 10:53:28 PM Ignore FastAndy Report Abuse That is what they hope to sell, we will see when they report their real sales after the end of the month. If they built better quality cars they would sell more cars.
Dancin Champion Author Toronto Posts:4,215 Points:1,781,450 Joined:Mar 2004	Message Posted: Nov 19, 2009 10:52:17 PM Ignore Dancin Report Abuse Solid compared to exactly what ? GM has a reprieve, but much like Chrysler, has GOT to sell cars that are not accessory loaded (therefore less cost to buy, and repair), and that emphasize outstanding fuel economy. That is NOT 30 miles per gallon, but over 50, much like Europe. We don't need 0-60 in 6 seconds anymore.
bigreddwg Champion Author Tampa Posts:4,410 Points:908,620 Joined:Nov 2005	Message Posted: Nov 19, 2009 10:52:14 PM Ignore bigreddwg Report Abuse I DON'T PLAN TO BUY FROM A CORRUPT COMPANY THAT BORROWED FROM OUR GOVERNMENT AND THEN TURNED AROUND AND TREATED ITS CEOs TO BONUSES AND TRIPS!!
danreino Champion Author Twin Cities Posts:3,785 Points:675,095 Joined:Mar 2008	Message Posted: Nov 19, 2009 10:51:46 PM Ignore danreino Report Abuse Good call after nineteen days into the month. I expect the Vikings to make the playoffs too.
judgemobile Champion Author Ohio Posts:2,746 Points:1,485,985 Joined:Nov 2005	Message Posted: Nov 19, 2009 10:48:51 PM Ignore judgemobile Report Abuse GM (Government Motors) analyst is on O'Bummer's payroll, because company is 61 % government owned, and they are ONLY company to fail "stress" test, meaning they will need MORE bailout money. Analyst will say WHATEVER HE IS TOLD, because his continued employment is dependent on that.
BBHybrid Champion Author Pittsburgh Posts:2,623 Points:528,455 Joined:Aug 2008	Message Posted: Nov 19, 2009 10:43:54 PM Ignore BBHybrid Report Abuse Quality is the problem for GM.
DustyHorse Champion Author Virginia Posts:1,532 Points:506,015 Joined:Oct 2008	Message Posted: Nov 19, 2009 10:41:42 PM Ignore DustyHorse Report Abuse This analyst sounds more like a spin doctor.
roadjet Champion Author Baton Rouge Posts:8,876 Points:1,122,170 Joined:Jul 2007	Message Posted: Nov 19, 2009 10:40:06 PM Ignore roadjet Report Abuse Good. Maybe they can buy the government out and take control and responsibility for themselves.
FordF2502001 Champion Author Mississippi Posts:3,051 Points:663,900 Joined:Sep 2008	Message Posted: Nov 19, 2009 10:32:44 PM Ignore FordF2502001 Report Abuse dream on, with unemployment continuing to be horrible no hope for a huge rise in auto sales. that is until the gov't gives more of our money away to provide cars to all.
hank1326 Champion Author Los Angeles Posts:4,089 Points:769,200 Joined:Jun 2008	Message Posted: Nov 19, 2009 10:28:06 PM Ignore hank1326 Report Abuse GM is now part of the all talk no action administration. Time will tell the truth.
BeaverBilly Champion Author Alberta Posts:4,970 Points:1,573,685 Joined:Feb 2003	Message Posted: Nov 19, 2009 10:27:32 PM Ignore BeaverBilly Report Abuse I can see it, they are give away many 2009's at basement sell-offs to get rid of there unwanted cars and trucks. ie, Pontiacs, and anything else that discontinued.
PissedCanuck Champion Author Toronto Posts:3,818 Points:817,230 Joined:Nov 2006	Message Posted: Nov 19, 2009 10:21:34 PM Ignore PissedCanuck Report Abuse Solid car sales usually means dismal sales elsewhere. How are people paying for that new ride in the drive? By cutting back on other expenditures like eating out and not buying that new big screen tv or latest and greatest computer.
jimsin630 Veteran Author Chicago Posts:496 Points:107,800 Joined:Aug 2009	Message Posted: Nov 19, 2009 10:20:02 PM Ignore jimsin630 Report Abuse hope he doesn't count his chickens, i won't buy another gm car new until they improve quality and cut back prices
Lukus Champion Author Halifax Posts:3,484 Points:708,265 Joined:Nov 2007	Message Posted: Nov 19, 2009 10:10:22 PM Ignore Lukus Report Abuse Maybe it is employees like this analyst that put GM in the position its in.
NavyStore Champion Author Seattle Posts:2,681 Points:1,184,325 Joined:Aug 2005	Message Posted: Nov 19, 2009 10:09:06 PM Ignore NavyStore Report Abuse Hope so, and hope Chryslers sales take off even more!
jay4 Champion Author Colorado Springs Posts:5,792 Points:1,326,080 Joined:Apr 2006	Message Posted: Nov 19, 2009 10:08:05 PM Ignore jay4 Report Abuse Good luck!
DEG Champion Author Las Vegas Posts:12,808 Points:2,544,180 Joined:Jul 2003	Message Posted: Nov 19, 2009 10:06:12 PM Ignore DEG Report Abuse I doubt these claims. The economy is still in dire shape as it is still losing jobs.
zeddieiv Champion Author Columbia Posts:3,563 Points:1,064,045 Joined:Oct 2006	Message Posted: Nov 19, 2009 10:05:00 PM Ignore zeddieiv Report Abuse Is it just me or did everybody at GM have a lobotmy?
AC-302 Champion Author Los Angeles Posts:14,839 Points:1,943,685 Joined:Aug 2004	Message Posted: Nov 19, 2009 10:04:09 PM Ignore AC-302 Report Abuse Time will tell..
Chris46 Champion Author Dayton Posts:11,021 Points:1,247,275 Joined:Sep 2005	Message Posted: Nov 19, 2009 10:01:11 PM Ignore Chris46 Report Abuse GM could be lying also. They've been known to do that in the past, and we believed them.
YLHandyman Champion Author Orange County Posts:4,589 Points:830,745 Joined:Feb 2008	Message Posted: Nov 19, 2009 9:55:18 PM Ignore YLHandyman Report Abuse They are not always right.
Chitowner Champion Author Omaha Posts:2,063 Points:579,135 Joined:Jul 2007	Message Posted: Nov 19, 2009 9:54:36 PM Ignore Chitowner Report Abuse Go Camaro go
Gassed01 Champion Author Toronto Posts:1,741 Points:848,050 Joined:Jan 2006	Message Posted: Nov 19, 2009 9:48:27 PM Ignore Gassed01 Report Abuse Share gains would be good to see. They're making some good products now. They need to if they want to get into the black.
1fulltank Champion Author Buffalo Posts:2,985 Points:576,875 Joined:Nov 2008	Message Posted: Nov 19, 2009 9:43:43 PM Ignore 1fulltank Report Abuse Good, maybe there will once again be competition in the American auto market.
mstearno Champion Author Dayton Posts:3,566 Points:793,340 Joined:Jan 2008	Message Posted: Nov 19, 2009 9:37:40 PM Ignore mstearno Report Abuse But still losing money and sending our money over seas YUK
heysailor Champion Author Pittsburgh Posts:4,650 Points:1,355,070 Joined:Mar 2006	Message Posted: Nov 19, 2009 9:30:16 PM Ignore heysailor Report Abuse I wish them luck.
ACTown All-Star Author Oregon Posts:883 Points:711,090 Joined:Jun 2007	Message Posted: Nov 19, 2009 9:27:28 PM Ignore ACTown Report Abuse We will see this winter what happens. THe Obamacare may take all our money.
ILANGE9 Champion Author Illinois Posts:2,519 Points:620,480 Joined:Sep 2008	Message Posted: Nov 19, 2009 9:23:53 PM Ignore ILANGE9 Report Abuse We'll see for high long this lasts. They have terrible track record lately with producing cars that consumers want.
indyjim Champion Author Indianapolis Posts:4,747 Points:1,346,645 Joined:Jul 2006	Message Posted: Nov 19, 2009 9:23:13 PM Ignore indyjim Report Abuse Imagine that..............sales increased without the HELP????????????? of the US government. Can that be possible? I hope Obama is paying attention and will keep his govt. paws out of private business.
no1lakersfam Champion Author Virginia Beach Posts:8,983 Points:1,643,835 Joined:Aug 2004	Message Posted: Nov 19, 2009 9:17:58 PM Ignore no1lakersfam Report Abuse Apparently they still have a long way to go from a quality standpoint. While the testing agencies have increased some of their standards this year, GM did not have a product that was able to meet these standards. They are going to have to work on that for next year if they want to be successful and profitable in the long term.
lindact Champion Author New Haven Posts:3,999 Points:785,140 Joined:May 2008	Message Posted: Nov 19, 2009 9:14:15 PM Ignore lindact Report Abuse GM still hasn't proven it's a company with quality autos consumers want.
montytexas Champion Author Houston Posts:1,208 Points:717,750 Joined:Jun 2006	Message Posted: Nov 19, 2009 9:10:05 PM Ignore montytexas Report Abuse I wonder how many of their sales this month were with zero percent financing and no or little down payment with GMAC ??
WonderfulMI Champion Author Michigan Posts:5,843 Points:807,375 Joined:Jun 2008	Message Posted: Nov 19, 2009 9:09:10 PM Ignore WonderfulMI Report Abuse GM has a positive cash flow, and is planning to pay back the first installment on the loan from the Bush administration.
BillA Champion Author Portland Posts:11,147 Points:1,531,650 Joined:Aug 2005	Message Posted: Nov 19, 2009 9:01:38 PM Ignore BillA Report Abuse GM analyst also predicted they would survive without government handout. NEWS FLASH: GM analysts don't have good track record of picking cars that Americans want.
IGM Rookie Author South Carolina Posts:75 Points:366,085 Joined:Jan 2008	Message Posted: Nov 19, 2009 8:57:11 PM Ignore IGM Report Abuse Yea, dont get too happy too soon!
4warned Champion Author Michigan Posts:4,228 Points:1,254,910 Joined:Nov 2006	Message Posted: Nov 19, 2009 8:48:29 PM Ignore 4warned Report Abuse What is going to happen now that they have kept OPEL? More cost. I think G.M.is wishful thinking.
lowpet Veteran Author Texas Posts:279 Points:72,025 Joined:Dec 2008	Message Posted: Nov 19, 2009 8:46:50 PM Ignore lowpet Report Abuse Good, then they can start paying off the massive loan from the Gov't
A_Jelly_Donut Veteran Author Indiana Posts:332 Points:347,535 Joined:Mar 2008	Message Posted: Nov 19, 2009 8:46:21 PM Ignore A_Jelly_Donut Report Abuse I'm not sure I'd consider 10.8 mn units "solid". Still off something like 15% from two years ago.
Number43 Champion Author Lexington Posts:3,497 Points:677,150 Joined:Oct 2008	Message Posted: Nov 19, 2009 8:43:34 PM Ignore Number43 Report Abuse I don't care . NO UAW car for me---ever again.
SBlouch Champion Author San Antonio Posts:4,874 Points:1,048,235 Joined:Apr 2007	Message Posted: Nov 19, 2009 8:43:07 PM Ignore SBlouch Report Abuse Well, we need to see if the GM analyst is right in his prediction that the U.S. auto sales will top the annual rate of 10.8 million cars sold in November. If he is right, does he get a bonus like the Bank and Insurance people get after they got bail out money?