that auto bailout? a disaster! (well, for those who opposed it)

Bloomberg: General Motors, Ford and Chrysler reported sales gains in December that topped analysts’ estimates as demand for the automakers’ new models increased.

GM’s deliveries in the month rose 7.5 percent to 224,185 … the largest U.S. automaker was expected to post a 4.3 percent sales increase, the average of four analysts’ estimates compiled by Bloomberg. Ford’s sales gained 3.5 percent, topping the 3.3 percent average estimate of five analysts.

“This is a market that’s coming back significantly,” said Rebecca Lindland, an analyst with IHS Automotive. “And with really strong products coming from GM, Ford and Chrysler, there’s a lot of opportunity for change in the marketplace.”

….Rising consumer confidence and retail spending bode well for car sales and may help boost 2011 industrywide sales …. Banks are starting to lend more freely, giving buyers with weaker credit an opportunity to purchase new cars…

Full article here

From November – MSNBC: A GM success story? The biggest political story that few are talking about right now? GM’s initial public stock offering … looks like it’s going to be a big success and a case where the government may just make money on this deal. This has the potential of being a very good story for the Obama White House, as well as a success of government intervention. Where would the unemployment rate be in Michigan, Indiana, Illinois, Wisconsin and Ohio if GM not gotten major government assistance?

Meanwhile ….. Bloomberg: American factories unexpectedly received more orders in November, signaling that gains in consumer spending, business investment and exports will sustain the manufacturing recovery.

….Manufacturing has been resilient throughout the recovery as factories are seeing demand improve, pointing to further growth in 2011 … it expanded in December at the fastest pace in seven months…

….Bookings for capital goods, a measure of future business investment, rose 2.6 percent … demand for computers and electronics climbed 6.3 percent, the most since February 2009.

….Rising exports, which reached a two-year high in October, and improving consumer spending has prompted some companies to boost production to meet demand and also increase their own orders to replace aging equipment.

Full article here

4 Responses to “that auto bailout? a disaster! (well, for those who opposed it)”

  1. January 4, 2011 at 2:36 pm

    Thanks so much for getting out this piece of good news. I was worried when the bailout first hit that it was a waste of $$, but my fears were groundless. I continue to read about how Ford, GM and now evidently Chrysler are coming back. This not only helps the auto industry, but in many cases it saves entire communities. The town of Kokomo is one such example. Woo Hoo – the country is coming back…

  2. 2 ber6964
    January 4, 2011 at 3:13 pm

    Thank You President Obama when everyone else was running around in circles yelling that the Sky was Falling you kept your head down and kept working. This folks is a once in generations President! Always a Gentleman always calm and hard working as spit that is the real reason they (repugnuts) hate him. Real Gentlemen govern with the Steel fist covered in velvet and rarely if ever run around (ala McCain)fighting everyone and everything as some of the Fastrati would like him to do!

  3. 3 majii
    January 4, 2011 at 3:13 pm

    If it’s true that the proof is in the pudding, I’m seeing pudding everywhere in the domestic auto industry. Thanks for this information, Chipsticks. The MSM and “conservatives” seem to be having problems admitting that the auto bailout was a good investment. Thanks to your blog, we, the Pragmati, know that whatever “conservatives” are saying about this good news to believe the opposite. Get ready for them to move the goalposts after hearing this.

  4. 4 hgerhard
    January 4, 2011 at 4:14 pm

    The proof is indeed in the pudding. It’s plain for everyone to see that the help given to the auto industry along with the required restructuring was the right thing to do and a wise investment. If the opposition continues to rant about this, they will lose credibility even with the most gullible segment of the population. Remember the old wisdom: You can fool some of the people …..

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