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Wow. Based on the global sales volume listed in the article (9.4 million units worldwide), that's a $4117 loss per vehicle that GM manufactured last year. :shock:
GM's CEO Rick Wagoner was overheard saying, "We lose money on every one we sell, but we're making it up in volume!" :wink:
That UAW contract will be the death of 'em.
I lost a dollar yesterday...this is just slightly worse.
Wow, saw that on the news last night. Hard times are coming! I wonder how Fords going to do?
38,700,000,000.00 / 365 days = 106,027,397.26 /day
106,027,397.26/24 hours = 4,417,808.22 / hour
4,417,808.22 / 60 minutes = 73,630.14 / min.
73,630.14/ 60 seconds = 1,227.17 / second....
So it doesn't sound as bad say $1227/second....
It's bad, but not as bad as it looks... They took a one time $38.3 billion tax-accounting write-off. That cuts the annual loss to $500 million.
This is a play with the numbers. But, I have no doubt that GM or Ford may not be around in 20 years!