Just how well are the American auto companies doing overseas?

[kentuck]

I have read reports that they are doing much better in foreign countries than in the US? If that is true, why should we be bailing them out in this country? Why can they not take their profits from overseas and put it into their American operations? Why are those considered separate companies??

[Deja Q]

1. Any links?

If they are doing better, then America damn well deserves its money back.

[kentuck]

2. Unfortunately, no...

But I will see what I can find?

[Deja Q]

3. Thanks

:)

I'll look around too.

Ditto for the banks.

Corporate welfare is wrong... especially when they don't pay the "welfare queens" good wages for good work done.

Henry Ford knew the score... he'd be lambasted today, however. Then again, Henry Ford was a humman...

[kentuck]

4. Here's one.

There are many.

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050704336.html

[WCGreen]

6. That's just ducky...

All these Bailouts, to GM, Chrysler, AIG and the banks are all geared overwhelmingly to help the investment class.

[kentuck]

7. The bailouts seem to be to help them move everything overseas..

because that is where they are making money. They are playing all of us for fools, it seems..?

[WCGreen]

8. Well, I gues hat's good for Goldman Sachs is good for the Coutnry

New Movie, No Country for Working Folks...

[blue_onyx]

9. "They are playing all of us for fools"

No, this is exactly what everyone, including the Obama administration, wanted when they told GM/Chrysler to become competitive. I have doubt that everyone knew what telling the auto companies to become competitive meant.

[kentuck]

5. Here is an interesting link.

http://www.autoobserver.com/2008/01/gms-wagoner-future-growth-is-overseas.html

<snip>
About three-quarters of General Motors' car and truck sales will come from outside the U.S. within a decade, Chief Executive Officer Rick Wagoner told Bloomberg Television in an interview.

GM plans to push sales in the fastest-growing markets as demand in the U.S. stagnates, Wagoner said. In the third quarter of last year, 58 percent of GM's sales came from outside its home market. GM relied on the U.S. for most of its volume as recently as 2004.

Auto analyst John Casesa, managing partner at Casesa Shapiro Group in New York, told Bloomberg, that’s the kind of sales mix “that will eventually save GM.” Casesa said: "Overseas growth is an absolute necessity if GM is going to compete, not just with Toyota, but with emerging market automakers.''

Wagoner said GM has the cash and momentum to keep pace with global competitors, led by Toyota, which is threatening to end GM's 76-year reign as the industry's biggest company.

GM kept its lead over Toyota globally through September with 7.06 million sales, for a margin of 10,000. At the end of the first half, Toyota led by 39,000 vehicles. Year-end totals will be announced this month.

Wagoner told Bloomberg preliminary results indicate GM set 2007 sales records in Europe, Asia and other non-North American markets, while U.S. volume fell for the eighth straight year.

......more