Chinese Take Out?

Following up on Big Trouble in Little China? What about GM auto sales in China?

The sales of Shanghai General Motors Wuling dropped the most to 98,688 from 130,564 by 24.4 percent year-on-year. - China Daily

Shanghai GM Sales – Q4 2018: Chevrolet -28.9%; Buick -23%; Cadillac +9.7%SAIC-GM-Wuling Sales – Q4 2018: Baojun -41.7%; Wuling -13.7%Complete 2018 Calendar Year GM China Sales -9.8% - GM Authority

Declining demand has nothing to do with double digit declines? It's all sales incentives and delivery timing? A fool might suppose that explains away the double digit decline in China as well? One wonders what GM announced on Monday, November 26th? And now this...

The Detroit automaker said plants in Ohio, Michigan, Maryland, and Ontario will be "unallocated" in 2019 and it will cease operations at two additional plants outside of North America by the end of next year. It will also wind down operations at propulsion plants in White Marsh, Maryland, and Warren, Michigan. - CNBC 

GM is cutting more than 6,300 hourly and salaried workers at its plants and 15 percent of the salaried workers in North America for a total of more than 14,000....  and close seven factories worldwide by the end of next year, part of a sweeping realignment to prepare for a future of electric and self-driving vehicles. - Bloomberg

Unallocation? Realignment to prepare for EV and SD's? Surely the inhabitants of those communities will pay no attention indeed. 

The GM sitch in a nutshell: Sales, profits and market share all down. Fired 15K American workers after the American public bailed GM out for only $50 billion plus. Executives are counting on China and Mexico with a slowing Chinese economy.  And now this...  

February 27, 2019 Ford Motor Co’s joint venture in China has “quietly begun” dismissing thousands of its 20,000 workers due to weak auto sales in the world’s second-largest economy,  Reuters

Moving West... If one thinks these events are symptomatic of a one off or isolated, then that fool should stay inside of their little bubble and keep pretending.  

More to come in Happy New Year? Stay tuned, no flippin.

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