成人小说亚洲一区二区三区,亚洲国产精品一区二区三区,国产精品成人精品久久久,久久综合一区二区三区,精品无码av一区二区,国产一级a毛一级a看免费视频,欧洲uv免费在线区一二区,亚洲国产欧美中日韩成人综合视频,国产熟女一区二区三区五月婷小说,亚洲一区波多野结衣在线

立即打開
GM's IPO to-do list: 1) Sell more cars

GM's IPO to-do list: 1) Sell more cars

Doron Levin 2010年09月17日

????No less than former auto czar Steve Rattner said a key reason the U.S. decided to rescue General Motors is because his team believed GM's vehicles are much better than their reputation. Eventually, according to their reasoning, buyers must wake up and GM will be rewarded with stronger sales and better pricing, leading to improved financial performance.

????The theory better come true shortly for the sake of the U.S.'s $50 billion investment. GM's expected initial public offering of shares in November so far is being shadowed by a softer-than-expected market for new vehicles in the U.S., one that is treating the nation's No. 1 automaker with particular cruelty. Though GM's retail sales are up 6.3 percent through September, compared to an abysmal 2009, the company's share has slipped to 19.1 percent from 19.4 percent a year earlier.

????Much of the slippage is due to the comparison against sales a year ago, when GM was still selling its now discontinued Saturn, Pontiac, Hummer and Saab brands. The share of GM's most important Chevrolet division, promisingly, is up more than a point from a year ago. (The U.S. market shares of Ford Motor (F, Fortune 500) and Chrysler both are higher year-over-year.)

????The more pressing difficulty for GM than a market-share loss is the fact that the overall inventory of unsold vehicles from all automakers is creeping higher. Forecasters had expected the 2010 automotive market to approach 12 million sales; instead it may come in below 11.5 million sales. If demand doesn't improve soon, automakers including GM will face increasing pressure to slow production. Slower production translates instantly to lower revenue and profit.

????"I'm beginning to be concerned about the inventory building,'' said Tracy Handler, an analyst at IHS Global Insight in Northville, Michigan. By her count, the inventory stands at about two million vehicles and is trending higher.

????With the IPO pending, GM is in a double bind: If GM builds vehicles aggressively and lets its inventory balloon, thereby necessitating discounts, it will be abandoning the promise of the new management to show manufacturing discipline in order to improve pricing of cars and trucks. But if GM trims production, it will be accepting a hit to revenue and possibly a market-share loss if other producers decide to stay aggressive. Neither choice will be regarded as positive by investors.

????"For the IPO there might be some incentive to build stock,'' said Handler. Automakers can boost retail sales in the short term, while deferring the costs that go with promotional lease and discount programs. In his first weeks in office, new GM CEO Dan Akerson will encounter for the first time the tricky business of deciphering retail demand and deciding precisely how many cars and trucks to build.

????The best possible development for GM and its investment bankers are a few months of stronger-than-forecast sales, reinforcing expectations that the U.S. auto industry is returning to its historic pattern of rapidly accelerating recovery after a recession. New GM shares might soar, validating Rattner and Team Obama. But that rebound so far is nowhere on the horizon.

掃碼打開財富Plus App
闺蜜张开腿让我爽了一夜| 亚洲aⅴ男人的天堂在线观看| 绿帽娇妻在卧室疯狂的呻吟| 精品无码AV无码免费专区| 少妇人妻偷人精品视频| 中文字幕亚洲一区二区va| 国产免费Aⅴ片在线观看播放| 人妻91麻豆一区二区三区| 亚洲国产精品无码专区影院| 欧美一区二区日韩一区二区| 欧美裸体XXXX极品少妇| 亚洲国产综合精品2020| 欧美va亚洲va在线观看aa久久一级一片毛片特色| 国产一级a毛一级a看免费视频一区二区三区| 在线看片国产爆乳口交国产色婷婷| 国产一级高清在线观看| 亚洲乱码国产乱码精品精| 高清在线欧美亚洲午夜欧洲| 风流老熟女一区二区三区| 97天天做天天爱夜夜爽| 欧美人与性囗牲恔配| 亚洲AV人无码综合在线观看| 国产成人黑色丝袜高跟鞋视频在线| 亚洲欧美中文日韩在线| 国产精品亚洲欧美大片在线看| 国产精品视频久久久久久久久久| 国产精品一区二区 尿失禁| 国产一级视频在线观看免费| 一级特黄录像免费播放中文版| 国产精品一国产av麻豆| 精品久久久久久久一区二区伦理| 国产在线观看你懂的网址视频| 亚洲精品日韩片无码中文字幕| 小小水蜜桃高清电视剧观看| 成人精品视频99在线观看免费| 欧美性开放大片福利免费观看| 国产美女被爽到高潮激情免费A片| 丰满3中文字幕第一页| 国产乱人伦AV在线A更新| 精品久久久久国语电影| 中文字幕乱人伦一区二区|