The U.S. auto industry will be much like the European industry is right now -- in a word, fragmented. Everybody will be fighting to get as much as 15 of the market. Nobody will exceed that for very long, if they get it at all.
More Quotes from Gerald Meyers:
He may ask for a harder line with suppliers, and more cost reductions, and eliminations of brands, ... Those are all disruptive demands.Gerald Meyers
I've known Jerry a long time, and he isn't a guy who sits back, or tries to 'get along' with everybody. He's a pleasant enough fellow, but if he's unhappy about something he's going to blurt it out.
Gerald Meyers
A decade from now, Ford will be in the mid-teens and GM will be in the high teens, ... They might be making money at that point, if they can cut costs.
Gerald Meyers
Meyers notes that GM also is buffeted by macroeconomic winds that are damaging the company's bottom line and over which it has no control. Prices for steel, oil and plastics all have risen in recent years. GM also is burdened with legacy costs over which it has little control if it keeps its current promises to employees. Health care is the one you hear most about -- and it's big, ... But pension costs are enormous too.
Gerald Meyers
They need every penny they've got to pay out their health care and keep things going, ... They've got too many demands now on their cash.
Gerald Meyers
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