GM and Chrysler will lead automakers to gushing profits

When annual US sales reach 15 million vehicles, General Motors Co. and Chrysler LLC will lead automakers to “gushing profits,” according to Steven Rattner, the former head of the federal government's auto task force. On Bloomberg Television's “Surveillance Midday with Tom Keene,” Rattner said that GM will be able to make a profit even with fewer US vehicles sold because of GM’s move to cut costs and liabilities during its 2009 bankruptcy proceedings. Rattner said that the industry underwent a restructuring in order to make money.
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thstone - 10/25/2010 3:44:48 PM

+1 Boost

Steven Rattner, king of stating the obvious. Nothing that a 30% expansion of the entire US market won't fix.

uaw_lax - 10/26/2010 2:39:31 AM

+1 Boost

It will be at least 5 years before we return to 16 million units again.