Economics, Uncategorized

GM Inventory At 10 Year High; Proves No One Is Buying

A few years ago I wrote  a deep analytic piece on GM and projected that for the US to recoup its investment, it would take a stock price of $53, which GM, to this day, has not hit.  Even moreso, we’re seeing more sub-prime auto loans, and more people stretching the loans they get to 5, 6, and even 7 years.

Finally, we’re seeing new car inventory sitting in storage.

None of those things are good indications for the US auto manufacturing sector, which makes sense because US cars are generally garbage and the only reason people buy them is that they feel an obligation to “workers.”

Source: GM Auto Inventory Hits 10 Year High: Most Since November 2007, One Month Before The Recession Started | Zero Hedge

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