Forbes contributor Louis Woodhill pointed towards a 2% drop in year-over-year market share from 20% to 18% as the biggest indicator that General Motors is headed towards bankruptcy again. The writer even brought up market share from the 1960s (yes, really) as if the market conditions 50 years ago had anything to do with the automotive market of today. Sounds like a bunch of hot-air in a politically-charged editorial if you ask us. There’s also this rant about how the Chevy Malibu is some sort of red flag that the GM product department has lost it, yet gave no praise to the first-ever Cadillac ATS.
Enter Bob Lutz, possibly the most revered automotive executive still alive, and ironically also a Forbes contributor. Lutz quickly had a piece of his own published on the magazine’s website in order to cool off rumors of another impending bankruptcy.
“The fact that he would focus on GM’s admittedly-lower U.S. marketshare as a harbinger of impending doom demonstrates the most profound lack of understanding of the vehicle business,” Lutz wrote in his rebuttal story titled “Chicken Little’s Second GM Bankruptcy: A Gold Medal for Silly Op-Ed Pieces.”
Indeed. Is it November yet?