GM China Sales Down 21 Percent During Third Quarter 2024

Comments

1. 

   Transferring all that tech for nothing. The worst run company auto company in the world, but with the best engineers. They might have 10 years left before liquidation or being absorbed for their trucks and SUVs.
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   1. 

      What the news isn’t telling you (because western media takes things at face value as told to them by the Chinese government “everything is fine here” as opposed to looking into the bigger picture of what is really happening there) is their economy is currently in a deflationary spiral. Its not just legacy automakers taking a hit but their entire economy over there is in shambles. The government was supposed to release stimulus packages to try to get themselves out of that deflationary spiral but its going to be much harder to handle. Once you are in a deflationary spiral, its very difficult to get out. And the larger players of the Chinese brands like BYD, are reaping the benefits because people are buying what they can afford.
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      1. 

         Yes, and as a result of the spiral, China is looking inside and cutting loose all competition. It’s last time for GM to get out and refocus on other markets, particularly regaining market share at home and Africa as a springboard for Europe.
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2. 

   The Chinese have had their fill of western and especially American ICE vehicles. Good thing lower case gm is coming with a slew of EVs, but even those wont prevent the inevitable booting of US branded vehicles out of CCP controlled China. From you see Buick Chinese sales collapsing the gig is up.
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3. 

   Legacy Auto is just getting whacked in China.
   They are too slow moving and are now paying the price.
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4. 

   “We are building momentum for both sales volume and market share in China,” <—My god the amount of denial at GM is astonishing. They are really sounding like those women with abusive boyfriends or husbands that claim "he beats me because its how he shows me he loves me."
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   1. 

      I thought the same thing.

      Apparently Steve Hill didn’t get the memo that their sales are crashing and the decline is accelerating not reversing course. At this rate they’ll be out of China in under three years.
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      1. 

         Being out of China doesn’t bother me. Yes its unfortunate but what do you expect out of a country that is increasingly becoming authoritarian and centrally state focused (for the sake of not using the work “communist”). The writing has been on the wall since they have been going down this route under the current leader.

         What does bother me however is that GM ditched all other markets to focus on China. So now, they are scrambling to get back into Europe, Australia, and other markets they pulled out of and have nothing to fall back on other than the western hemisphere when other better managed companies like Toyota, Hyundai, VW, and even Tesla strive to be globally competitive brands. Yes those brands sell in China too, but they didn’t put all their eggs into that basket so worse case scenario, they take that loss and move on. GM went all in on China and now they are losing their minds because what little they have to fall back on is also being threatened not only by Chinese brands, but have been struggling to gain back market share from the Japanese, Koreans, and Germans in the luxury space. Its like they had nobody with basic knowledge on how to diversify your investments to provide input between their strategic decisions.
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   2. 

      These Execs see what our president and vice get away with as far as lies, why should investors be any different? FYI, it’s not just at GM. GE, Boing, Toyota, John Deere, and especially Elon Musk do this all the time these days. Musk does get away with more than most cause he’s out there catching rocket ships, so he has at least a little credit to his insane claims.
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5. 

   you can see the end coming. GM sales are down around 70 % most of there sales over 75% are from their chinese brands , is it time to leave China , they stole all the tech and made it better for quarter of the price. Gm and other countries should get out and protect themselves
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6. 

   GM is a major military supplier and always has been, read Concept of the Corporation. Stunning how much negative is said here, what I see is an astonishing 900,000 unots in sales, and that is a very large number. Seems China is a viable market for a company traditionally thought of as US. In some ways, in some indistries, it is very much a global economy. Those 900,000 units are not chicken feed. But ifcyou prefer anothercbrand, of course, go for it. But I can see from the comments, we all got a different education, and live in very different worlds. Peace to you, happiness, be well.
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7. 

   I bought a Chevy in 2002, brand new, and it is still here. Got a 2021 in my garage, will have it until I die. I have other brands also, but certainly am a Chevy driver. Going through some local automuseums and seeing the history of GM is amazing. Go visit Blowing Green Kentucky and the Corvette Museum, you will see some awesome.
   GM supplies America with many things, not always the most cutting edge, but not a loser either.
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