GM stock shrugs off Akerman comments of streamlined dealer network enjoying higher throughput and profitability
Hosted by the New York International Auto Show, the forum brought together leaders from OEMs, suppliers, dealers and media to discuss major industry events and focus on how the economic recovery will affect automotive stakeholders.
For a complete read of the transcript, visit http://media.gm.com/content/media/us/en/news.detail.brand_GM.html/content/Pages/news/us/en/2011/Apr/0419_akerson
Torque News, for the record, is working on a new experimental dealer interview project whereby Akerson’s words fit right in, and we will use in the future to test dealer response. Here are just some of Akerson’s statements that we feel will become a basis for future interviews to get the real fundamental picture for the stock using dealers.
It’s a great time to talk about transformation… and you have to admit, the transformation taking place in the auto industry right now… and nowhere more than at GM… is pretty exciting stuff. It’s a thrill to walk the floor of GM’s assembly plants… or any OEM assembly plant… and watch a miracle-a-minute roll off the line.
It’s a thrill to see the pride in the faces of the men and women who build these incredible machines. It’s a thrill to see the wonder and delight on customers’ faces when they walk through a show like this one. Even hard-boiled New Yorkers have been known to crack a smile. And it’s a thrill to visit a dealership, where it all comes together.
Akerson especially noted consumers
Consumers are coming off the sideline. with retail sales for the industry up 28 percent year to date. At GM, we continue to project U.S. industry sales this year of 13-13.5 million. That’s a great improvement if we can sustain it.