When the car company is the big daddy, it can make a big profit

When the car company is the big daddy, it can make a big profit

September 28, 2021 Comments Off on When the car company is the big daddy, it can make a big profit By admin

Reuters The automotive giant General Motors is a big, expensive winner when it comes to profit from the sale of its vehicles, which it makes more than half a billion times a year.

But the Detroit-based automaker has a big share of the global market for cars and is struggling to attract new customers in the face of rising fuel prices. 

The company has lost money on its investments in vehicles that it could not sell because of the sharp fall in the price of oil.

General Motors Corp. has reported a net loss of $10.7 billion for the fourth quarter ended Dec. 31, or a loss of 22 cents per share, according to a Reuters tally of regulatory filings.

That compares with a profit of $3.6 billion a year ago, the last time the company reported the same data. 

“They’re going to be a major beneficiary,” said Steve Blumberg, an analyst at Credit Suisse. 

Ford Motor Co. also made big profits during the fourth year of the recession but its market share was still slipping because of weak demand for new cars and the low price of gasoline.

The company’s share price has fallen more than 35% this year. 

General Motors also has a problem with the quality of its cars.

Its stock fell more than 9% to $35.90 on Wednesday.

Ford Motor’s shares have also been on a tear this year, climbing more than 50% since the start of 2017. 

 Ford is facing competition from Toyota Motor Corp. and Volkswagen AG, both of which have struggled to attract buyers in the U.S. market. 

Last month, Toyota announced it would buy General Motors, the biggest automaker in the world, for $67 billion. 

While GM has been hurt by lower demand, its share price rose by almost 3% to close at $76.80 on Wednesday, and its stock is up more than 30% this week. 

Its $11 billion purchase of the Toyota unit is expected to boost the company’s profits in the short term.

But investors worry that the company may not be able to find a buyer for its remaining shares of Ford. 

GM, the world’s largest automaker, said in a statement that it has no plans to sell its shares of the Chevrolet brand, including the F-Series and the C-Max, after the deal closes in the fourth quarters. 

At a conference call last month, GM said it was exploring ways to sell the remaining shares in the Ford-owned GMC division. 

Finance executives are not pleased with General Motors’ strategy of buying and selling cars, which are the biggest source of revenue for the company, said Mark Fields, a partner at law firm Akin Gump Strauss Hauer & Hauser in New York. 

Fields said the company should have sold its GM vehicles to automakers in countries with lower costs and a high share of consumer spending. 

For a time, GM was able to compete with the likes of Toyota and VW because it had an advantage in the manufacturing of the vehicles, Fields said. 

In the past, GM has used its profits to pay down debt and reduce its borrowing costs. 

However, the debt crisis that hit the U, Europe and China has led to significant layoffs, the company said in December. 

Some analysts believe the company is on a “death spiral.” 

“GM’s stock has been on the decline for a few years now, and we think it will continue to do so, but I think the company will have to make some tough choices and it will have some hard choices to make to get itself back on its feet,” said David Rosenberg, chief investment officer at Fidelity Investments in New Jersey.

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