VodkaPundit

There They Go Again

US auto sales were up 9% last month, but GM suffered a decline:

General Motors says its U.S. sales fell more than 6 percent last month as a money-back guarantee offer failed to attract many buyers.

The company blamed much of the drop from a year ago on reduced sales to rental car companies. But retail sales to individual buyers fell 3 percent.

Does nobody — not one person in upper management — at GM remember why they had to go through bankruptcy? GM got into trouble because they allowed themselves to get dependent on fleet sales, cash back incentives, and subprime loans.

And what is GM’s business strategy reliant upon today? Fleet sales, cash back incentives, and subprime loans.

The outcome won’t be any different than it was three years ago, either.