A study by auto industry research group CNW Research found that 22 percent of new-car shoppers expect General Motors to consider bankruptcy again — nearly three and a half years after GM’s 2009 bankruptcy. As for (partial) cross-town rivals, only 8 percent believed that Chrysler will file for bankruptcy again — down 34 percent from two years ago. The government sold its remaining six percent stake in the automaker (read: Fiat subsidiary) over the summer, with Treasury estimates placing cost of the bailout at $1.3 billion.
The U.S. Treasury still owns $26.5 percent of GM stock, with some new car shoppers refusing to buy a GM product so long as the government remains an owner in the automaker. In some circles, GM still carries the derisive Government Motors nickname.
The GM Authority Take
It’s obvious that the fine ladies and gentlemen who participated in the CNW poll/study that produced these results are woefully misinformed, since the New GM is a rather healthy company — both financially and product-wise, as well. And given that the New GM turns around its ailing European operations while fortifying its balance sheet, it will only get healthier with time. In other words, nothing seems to be stopping people’s opinions from diverging greatly with reality.
Perhaps more folks should read GM Authority more often… in which case we ask that you tell everyone you know about GM Authority.