Comment by _DeadFred_
10 months ago
The US government bailed out GM under Obama. Do you know what GM did this month? They spent billions on stock buybacks and millions on bonuses while firing a ton of people. F'em. They aren't a car company, they are a stock company that happens to make cars, a route most large American companies seem to be taking (see also Boeing, whose management cares so much about/is detached from their product that they relocated their management away from the business and to Washington DC).
China is a 30 million a year car market and up until 2 years ago,GM used to sell more cars in China than in the US . It was an incredible cash cow .
It was so weird going to China backing in the early 2010's and seeing everyone driving Buicks. I'm not sure what I was expecting, but it wasn't a sea of Buicks.
GM sales has cratered there - a wrong product mix for a market that wants 36% EV's or hybrids hence them focusing on new EV platform and doing the new Bolt.