We think it would take a rapid acceleration in economic growth andor sharp capacity reduction, both of which appear unlikely.
More Quotes from John Casesa:
We were surprised that GM said that it does not plan to reduce permanently assembly capacity in North America to reflect the Olds phase-out, ... GM's restructuring, especially its discontinuance of the Olds brand, is undeniably a step in the right direction. However, the costs of these actions are much more visible than their ongoing benefits right now. We anxiously await follow-up actions.John Casesa
The North American operations are the driver of the results. Business is great this year, and the mix is very rich -- they're selling lots of trucks,
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
The UAW doesn't want to solve GM's cost problem if management can't solve its revenue problem,
John Casesa
GM used to be one step ahead of the pack, ... Now, it looks like it's in with the pack in Europe.
John Casesa
These results are reminiscent of Ford's late 1990's performance -- driving earnings improvement with a richer truck mix, ... GM remains market-share driven and its North American pricing fell 1.0 percent. Fortunately, it was able to increase its mix of light trucks and decrease its fleet sales, offsetting partially the negative impact of lower prices.
John Casesa
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