Magna Buys GM Europe

[Sean Malone]

Canadian auto parts company buys GM Europe (Opel, Vauxhall etc).

http://news.bbc.co.uk/2/hi/business/8074218.stm

[chop456]

I just Googled GM for a stock quote and this is under the GM website entry:


The Official Site of General Motors. Your resource for everything GM, The #1 Selling Vehicle Manufacturer in the World for 76 Consecutive Years.

It's amazed me how they've continued to call themselves the world's largest automaker for the last few years when Toyota's profits and market cap have dwarfed theirs. About a year ago, Toyota's market cap was 6X GM's. Two days ago it was 150X. Today it's nearly 250X.

It reminds me of a joke my dad tells about the hot dog vendor that sells them three for a quarter. A customer asks him how he can make any money selling them for so little. The vendor answers "Oh, I lose a nickel on every one, but I make it up in volume."

Indeed.

[extramundane]

Partnering with GAZ, no less. German gov't could still nix things though.

[dando]

I just Googled GM for a stock quote and this is under the GM website entry:



It's amazed me how they've continued to call themselves the world's largest automaker for the last few years when Toyota's profits and market cap have dwarfed theirs. About a year ago, Toyota's market cap was 6X GM's. Two days ago it was 150X. Today it's nearly 250X.

It reminds me of a joke my dad tells about the hot dog vendor that sells them three for a quarter. A customer asks him how he can make any money selling them for so little. The vendor answers "Oh, I lose a nickel on every one, but I make it up in volume."

Indeed.

IIRC, GM wasn't passed in car sales until earlier this year. All the search result you found means is that they haven't gotten around to updating the META data information for their site (or they laid off the poor bastard responsible for that). :saywhat:

-Kevin

[chop456]

My point wasn't that they've neglected to change it since being surpassed, but that volume alone has been their marketing term/measurement of success. Doesn't seem like volume has worked out all that well for them.

[oddlycalm]

Doesn't seem like volume has worked out all that well for them.
Yeah, bragging up high sales volume when everybody and their dog knows you're taking a loss on every unit you roll out the door does ring a bit hollow. :laugh:

I had a customer that owned a little moderate sized machine shop back in the 80's that bragged to me after he got a massive contract for millions of sockets from Proto Tools. He told me that he was losing 2 cents on each part but planned to make that up in volume...:gomer:

oc

[chop456]

Had he heard the hot dog joke? :D

[Ankf00]

I had a customer that owned a little moderate sized machine shop back in the 80's that bragged to me after he got a massive contract for millions of sockets from Proto Tools. He told me that he was losing 2 cents on each part but planned to make that up in volume...:gomer:

oc

:rofl: