There is enormous pressure for consolidation in the auto industry, ... There is way more supply than demand -- at least 40 extra plants around the world -- and that's the primary reason the returns in the business are crummy.
More Quotes from John Casesa:
GM is going in the right direction, but it is not getting better as fast as the competition is getting better.John Casesa
Even though the U.S. economy's pretty healthy, there's not much growth in demand. Everybody who needs a car has already bought one.
John Casesa
The auto companies have closed this excess capacity, are now making better product and simply don't have a lot of extra cars they can offer at low prices to this distribution channel. People like Henry Silverman or Wayne Huizenga will make those businesses more rationally structured.
John Casesa
GM's competitiveness is not only dependent upon labor costs, but also on the speed of its decision-making, its success in responding to the market appropriately and its ability to identify the growth segments in the market,
John Casesa
These disclosures don't look very good when investors are already skittish about what's going on in the automotive industry. You hate to discover a leak in your basement when you're trying to sell your house.
John Casesa
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