GM Cuts Production As Inventories Swell To Great Recession Levels

A glut of inventory is prompting General Motors Co. to reduce production at its Detroit-Hamtramck Assembly Plant, as well as at factories in Lansing and Ohio. GM says it had more than 874,000 cars, trucks and crossovers in its inventory at the end of November — the most it has had in its U.S. stock in eight years, when vehicles went unsold during the Great Recession.
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zairnaim - 12/19/2016 12:54:40 PM

+1 Boost

I'm surprised that they make so much money in spite of the excess inventory. They claim they can break even if sales fell 40% so I don't think its too big a problem yet.

They are trading at only 4 times earnings! Investors and consumers alike don't trust them in spite of their great (financial) performance. It took me months to convince myself to invest but it has turned out to be a profitable decision. I have TomM and his CT6 to thank for that :)

MDarringer - 12/19/2016 10:32:01 PM

0 Boost

We've refused shipments. Corporate is pissed, but we've said that we need lots of cash to sell off the inventory and that we will not accept more.