GasBuddy Blog

GasBuddy News Article

votes

Detroit's Big Three automakers surge on U.S. sales to beat estimates

Tampa Bay Times -- SOUTHFIELD, Mich.— Just three years ago, two Detroit automakers headed for bankruptcy and a third suffered record losses. Now North America has become a money machine for the Detroit Three, which earned $4.5 billion there in the first quarter on surging U.S. sales.

General Motors, Ford and Chrysler Group exceeded estimates with first quarter net income that totaled $3.2 billion. The most pleasant surprise was healthy North American operating margins of 11.5 percent at Ford, 7 percent at GM and 4.5 percent at Chrysler. Even combined losses of $405 million in Europe for GM and Ford were better than analysts anticipated from a region in an intractable financial crisis.

Such pleasant surprises would have been unimaginable in 2009 as GM and Chrysler filed Chapter 11 and Ford was coming of

Read the Full Article

Submitted May 05, 2012 By: aservant

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Detroit's Big Three automakers surge on U.S. sales to beat estimates	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First Prev

Next Last

FlyNFool Champion Author South Carolina Posts:8,244 Points:1,685,950 Joined:Aug 2008	Message Posted: May 5, 2012 11:59:17 PM Ignore FlyNFool Report Abuse We shall see.
crashintuc34 Champion Author Tucson Posts:4,052 Points:812,340 Joined:May 2010	Message Posted: May 5, 2012 11:58:47 PM Ignore crashintuc34 Report Abuse Good news.
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: May 5, 2012 11:57:57 PM Ignore mgune9 Report Abuse great news - fingers crossed it will maintain and certain parties don't have $ signs to cause problems with a comeback too early
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:402,350 Joined:Jan 2012	Message Posted: May 5, 2012 11:56:59 PM Ignore Shakleelady31 Report Abuse Automotive is a cyclical business, after all.
USAv8tor Veteran Author Long Island Posts:348 Points:138,665 Joined:Mar 2012	Message Posted: May 5, 2012 11:56:30 PM Ignore USAv8tor Report Abuse This is great, we're making a comeback! Woo hoo!
PoohMcGoo Champion Author Alabama Posts:3,067 Points:800,885 Joined:Dec 2010	Message Posted: May 5, 2012 11:56:21 PM Ignore PoohMcGoo Report Abuse UAW is seeing $$$$
kgbellman Champion Author Ann Arbor Posts:2,718 Points:732,815 Joined:Mar 2011	Message Posted: May 5, 2012 11:53:36 PM Ignore kgbellman Report Abuse Things are turning around
Beaveronparade Champion Author Hartford Posts:2,105 Points:635,800 Joined:Mar 2011	Message Posted: May 5, 2012 11:53:28 PM Ignore Beaveronparade Report Abuse I agree that any bailouts should be paid back since they are doing so well.
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: May 5, 2012 11:43:30 PM Ignore MadTraveler Report Abuse Great. We'll see in the end how good they are doing.
HA4CNN Champion Author Toronto Posts:5,629 Points:1,544,365 Joined:Dec 2006	Message Posted: May 5, 2012 11:43:26 PM Ignore HA4CNN Report Abuse Don't cut the Americans out yet.
regasaz Champion Author Phoenix Posts:5,775 Points:1,282,230 Joined:Dec 2006	Message Posted: May 5, 2012 11:42:12 PM Ignore regasaz Report Abuse So how about repaying the U.S. Taxpayers for the Bailout?
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: May 5, 2012 11:41:05 PM Ignore tippybuddy Report Abuse ok
eswi Champion Author Madison Posts:2,550 Points:684,355 Joined:Mar 2009	Message Posted: May 5, 2012 11:38:43 PM Ignore eswi Report Abuse OK
n3tbc Veteran Author Wilmington Posts:355 Points:332,825 Joined:Sep 2011	Message Posted: May 5, 2012 11:36:11 PM Ignore n3tbc Report Abuse Take any opening to increase sales in the markets. Many disasters occur and provide chances to make inroads into areas that were previously closed or difficult to make headway.
pgerassi Champion Author Milwaukee Posts:10,901 Points:2,132,580 Joined:Apr 2007	Message Posted: May 5, 2012 11:35:21 PM Ignore pgerassi Report Abuse ok.
rtw777 Champion Author Florida Posts:9,401 Points:1,842,970 Joined:Jan 2008	Message Posted: May 5, 2012 11:32:32 PM Ignore rtw777 Report Abuse GM and Chrysler still owe tax payers big bucks.
taximom5IL Rookie Author Champaign Posts:9 Points:65,805 Joined:Mar 2012	Message Posted: May 5, 2012 11:31:58 PM Ignore taximom5IL Report Abuse Glad to hear that Detroit's economy is being "fueled" by Chrysler's sales gains; from bankruptcy to billions.
esquared Champion Author Oklahoma City Posts:8,072 Points:1,971,085 Joined:Jan 2006	Message Posted: May 5, 2012 11:31:51 PM Ignore esquared Report Abuse And had Uncle Sugar stayed out of Detroit, wonder if the same result would be evident today?
30mpg80 Champion Author Lexington Posts:10,035 Points:1,487,855 Joined:Nov 2008	Message Posted: May 5, 2012 11:30:39 PM Ignore 30mpg80 Report Abuse Sounds good, hope other manufacturing picks up.
altima2008 Champion Author Philadelphia Posts:8,165 Points:1,737,990 Joined:Apr 2008	Message Posted: May 5, 2012 11:30:15 PM Ignore altima2008 Report Abuse Well see how long that lasts.
livedream Champion Author Michigan Posts:3,689 Points:756,015 Joined:Mar 2011	Message Posted: May 5, 2012 11:29:46 PM Ignore livedream Report Abuse This is good news -- But NorthglennBill has a good point: "I wonder if how much of this is due to the big earthquake in Japan and the fact that Japan couldn't deliver the number of cars that was routine."
straz Champion Author Pennsylvania Posts:1,708 Points:540,385 Joined:Jan 2007	Message Posted: May 5, 2012 11:25:35 PM Ignore straz Report Abuse still good to hear
raj_fl Champion Author Trenton Posts:3,209 Points:728,755 Joined:Oct 2010	Message Posted: May 5, 2012 11:23:25 PM Ignore raj_fl Report Abuse mmmmmm
raj_fl Champion Author Trenton Posts:3,209 Points:728,755 Joined:Oct 2010	Message Posted: May 5, 2012 11:23:07 PM Ignore raj_fl Report Abuse i have to agree with glm4500, that japan could not deliver the quota so most buyers switched to the next cheapest thing the big 3. but that will not last long
GLM4205 Champion Author Toledo Posts:4,057 Points:800,295 Joined:Dec 2010	Message Posted: May 5, 2012 11:21:10 PM Ignore GLM4205 Report Abuse I wonder if how much of this is due to the big earthquake in Japan and the fact that Japan couldn't deliver the number of cars that was routine.
abcdMA Champion Author Worcester Posts:7,927 Points:1,575,955 Joined:Nov 2008	Message Posted: May 5, 2012 11:19:45 PM Ignore abcdMA Report Abuse remember--GM and Chrysler were walked into bankruptcy by the administration
cateyes8264 Champion Author Tennessee Posts:2,957 Points:642,615 Joined:Jul 2011	Message Posted: May 5, 2012 11:16:00 PM Ignore cateyes8264 Report Abuse Pay back the bail out then!!! Make the cars affordable, I don't know anyone who has bought a "new" car in the past 2 years.
darkknight1 Champion Author Winston-Salem Posts:4,340 Points:896,810 Joined:Nov 2010	Message Posted: May 5, 2012 11:15:33 PM Ignore darkknight1 Report Abuse Ok
Mowerman08 Champion Author Milwaukee Posts:4,760 Points:1,217,995 Joined:Aug 2008	Message Posted: May 5, 2012 11:15:32 PM Ignore Mowerman08 Report Abuse Improved MPG helps.
Mariuxus Champion Author Chicago Posts:3,765 Points:1,872,040 Joined:May 2007	Message Posted: May 5, 2012 11:14:59 PM Ignore Mariuxus Report Abuse ok...
tc316 Champion Author Twin Cities Posts:10,791 Points:1,728,605 Joined:Apr 2007	Message Posted: May 5, 2012 11:13:44 PM Ignore tc316 Report Abuse Good news
Z51Corvette Champion Author Austin Posts:8,490 Points:1,672,145 Joined:Jan 2008	Message Posted: May 5, 2012 11:12:52 PM Ignore Z51Corvette Report Abuse Congratulations are in order!
serrog Champion Author Nova Scotia Posts:5,569 Points:1,513,105 Joined:Oct 2008	Message Posted: May 5, 2012 11:07:46 PM Ignore serrog Report Abuse Good
DandyDapple All-Star Author North Dakota Posts:715 Points:311,570 Joined:Sep 2008	Message Posted: May 5, 2012 11:05:21 PM Ignore DandyDapple Report Abuse OMG 2012 ...
clermont40miles Champion Author Cincinnati Posts:10,576 Points:1,772,940 Joined:Apr 2008	Message Posted: May 5, 2012 11:02:50 PM Ignore clermont40miles Report Abuse Don't know anyone who dares to buy a new car. Lucky to pay the bills -- including the high gas prices that soak up lots of dollars that can't be spent another way. Good for the workers and mfrs - probably won't last long so invest the profits wisely. Two out of three are government owned. Go Ford! Not government owned -- yet!
bondo Champion Author Twin Cities Posts:3,516 Points:763,735 Joined:May 2001	Message Posted: May 5, 2012 11:01:49 PM Ignore bondo Report Abuse Good for them.
OilOnTheCheap Champion Author Ventura Posts:2,102 Points:451,135 Joined:Jan 2012	Message Posted: May 5, 2012 11:01:20 PM Ignore OilOnTheCheap Report Abuse Good for them and good for us.
dollarwatcher Champion Author Wisconsin Posts:7,945 Points:1,535,970 Joined:Mar 2007	Message Posted: May 5, 2012 11:00:43 PM Ignore dollarwatcher Report Abuse Too bad most of their bolt-on's are made over seas.
NorthglennBill Champion Author Denver Posts:7,432 Points:1,473,145 Joined:Oct 2008	Message Posted: May 5, 2012 10:56:05 PM Ignore NorthglennBill Report Abuse I wonder if how much of this is due to the big earthquake in Japan and the fact that Japan couldn't deliver the number of cars that was routine.
katmandue Champion Author Detroit Posts:8,074 Points:2,135,055 Joined:Jul 2006	Message Posted: May 5, 2012 10:51:24 PM Ignore katmandue Report Abuse But overseas sells are down.
WestMichigan Champion Author Grand Rapids Posts:2,483 Points:556,815 Joined:Mar 2011	Message Posted: May 5, 2012 10:47:12 PM Ignore WestMichigan Report Abuse Good news
AKmailman Champion Author Alaska Posts:5,638 Points:1,558,540 Joined:Jul 2004	Message Posted: May 5, 2012 10:47:09 PM Ignore AKmailman Report Abuse the zombies are listening to their leader - think small
WIWalt Champion Author Wisconsin Posts:1,731 Points:415,770 Joined:Mar 2012	Message Posted: May 5, 2012 10:45:07 PM Ignore WIWalt Report Abuse I agree with suzmar I want my money back
carman11 Champion Author North Carolina Posts:3,342 Points:692,700 Joined:Jun 2011	Message Posted: May 5, 2012 10:35:52 PM Ignore carman11 Report Abuse GOOD NEWS.
suzmar Champion Author Texas Posts:2,212 Points:872,740 Joined:Jun 2006	Message Posted: May 5, 2012 10:35:15 PM Ignore suzmar Report Abuse Does this mean GM can start repaying the taxpayers? Probably not, and definitely not the bond-holders that lost their shirts.
milespergallon Champion Author Illinois Posts:9,749 Points:1,909,335 Joined:Feb 2007	Message Posted: May 5, 2012 10:34:45 PM Ignore milespergallon Report Abuse This is good as long as it is better than imports. And, it would be even better if the actually produced some quality high MPG, like over 100 mpg!!!
chicoCA Champion Author California Posts:1,983 Points:1,775,165 Joined:Nov 2007	Message Posted: May 5, 2012 10:30:58 PM Ignore chicoCA Report Abuse great
SparkieMi Champion Author Kalamazoo Posts:3,266 Points:589,360 Joined:Sep 2011	Message Posted: May 5, 2012 10:30:54 PM Ignore SparkieMi Report Abuse Great!!! How about making them affordable!!!!
PathTrack Champion Author Twin Cities Posts:1,203 Points:134,685 Joined:Jan 2005	Message Posted: May 5, 2012 10:29:38 PM Ignore PathTrack Report Abuse Should go back to building them in Detroit. They left a big mess in that city with the unemployment rates.
EMoe57 Champion Author Jacksonville Posts:4,622 Points:1,017,015 Joined:Apr 2009	Message Posted: May 5, 2012 10:27:45 PM Ignore EMoe57 Report Abuse Good on them
bettersight Champion Author Oakland Posts:1,116 Points:255,885 Joined:May 2011	Message Posted: May 5, 2012 10:27:40 PM Ignore bettersight Report Abuse ok
Blue48 Champion Author Illinois Posts:7,310 Points:1,638,920 Joined:Feb 2007	Message Posted: May 5, 2012 10:26:16 PM Ignore Blue48 Report Abuse GOOD NEWS!