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Tag Archives: GM

American Car Myths: BUSTED (Part 2)

American Car Myths: BUSTED (Part 2)

Last week we attacked some of the most popular myths about American cars and totally BUSTED them. We rounded up the 10 most widely believed myths about American-made cars that car buyers still believe and present the evidence that proves they're all talk. This week, we have the second half of our car myths ready for busting! Adam and Jamie would be proud. Myth 6: All three companies would have gone under completely without Government aid—This may have been so in the case of Chrysler and GM (and even they paid off their aid in record time) but Ford took no Government aid, borrowing instead against everything the company owned - including its own logo. This paid off and now Ford is running a huge profit on it ... read more

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Auto Industry

American Car Myths: BUSTED! (Part 1)

American Car Myths: BUSTED! (Part 1)

For decades, many in the car-buying public looked upon the vehicles built by “The Big Three” (also known as Chrysler, Ford and GM) as inferior pieces of engineering work and inferior when it came to quality. Sadly, there were a few years way back when that this preconceived notion about American automobiles was wholeheartedly true; they simply were not as good as the European or Japanese competition. However, it has now been years since quality surveys showed any difference in vehicle quality due to where the manufacturer is based. If you look around nowadays, carmakers like Honda, BMW and Kia are just as likely to announce a recall on one of their vehicles for a safety or quality problem. Cars, trucks, SUVs, crossovers and even minivans are still mainly assembled by and are the creations of human beings and, sadly, humans are fallible and sometimes make mistakes. So perhaps it’s time you reconsider some of your pre-held n ... read more

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Auto Industry

A Brief History of the Detroit Auto Crisis

A Brief History of the Detroit Auto Crisis

Detroit was once a haven for prosperity and American-grown innovation thanks to its booming auto industry. But in 2008, this image changed as the “Big Three” auto manufacturers – General Motors, Chrysler and Ford – began to face catastrophic losses, known as the Detroit Auto Crisis. The Big Three, looking to earn high profit margins on their cars, focused their attention on SUVs and pickup trucks, cars with low fuel efficiency, which became unpopular as gas prices soared. Once gas prices tipped above $4 a gallon, gas-guzzling cars became totally undesirable, and the Big Three saw historic losses. High gas prices coupled with the stock market crash in September 2008 all but crippled the Big Three, particularly General Motors. In November 2008, General Motors’ Chief Executive pled before Congress for support. In December, the company was granted a $13.4 loan. Sales continued to plummet for the Big ... read more

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Auto Industry
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