Wednesday, November 7, 2007

GM: #1 in sales, #1 in losses

Less than a month ago, GM touted its status as number 1 in sales, by 10,000 vehicles globally. Take that Toyota. Unfortunately, GM is just not profitable. As GM takes a $39 billion loss, Toyota boasts third quarter profits of $11 billion.

According to Toyota, gains in emerging markets offset a drop in U.S. market profits. It's a global game.

Fortunately, GM is also seeking growth on other continents.
The Detroit News reports that "GM said it recorded a record third-quarter of global sales at 2.39 million cars and trucks, up 4 percent from a year ago."

GM is trying to balance a difficult U.S. market with opportunity elsewhere. How can GM trim U.S. costs, maintain U.S. sales and expand everywhere else? Patience, luck and innovation. Maybe high mileage vehicles in the U.S. as gas prices increase? Perhaps rapid development and commercialization of alternative fuel technology?

Time to wait and see...