IPFS News Link • Business/ Commerce
The Glut Cometh
• https://www.ericpetersautos.comWouldn't it be nice to know the canary's going to sing before he actually does?
Very few saw the crash coming back in '08 – which was the last time the car industry hit the linoleum and the cry resonated from Detroit to DC: I've fallen – and I can't get up!
By the spring of '09, GM had become Government Motors – and remains so, in spirit, to this day. The taxpayer bailout money has been paid back, but the company was fatally tainted by its roll-under-the-sheet with Uncle. It became a virtue-signaling company more than a car company.
Pontiac, Oldsmobile, Saturn and Hummer – dust in the wind. Along with about 20 percent of GM's previous market share.
Chrysler eventually got bought by Fiat and shed Plymouth, then Dodge.