GM stock shrugs off Akerman comments of streamlined dealer network enjoying higher throughput and profitability

In remarks prepared for delivery, Dan Akerson, Chairman and CEO of General Motors Company (NYSE: GM), delivered the keynote address at the National Automotive Dealers Association/IHS Automotive Forum in New York. Among his many statements, he noted GM’s higher throughput and profits from the streamlined dealer network, but GM stock still traded lower and closed at 29.59.

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.

Opening

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.

Pages

Share on Facebook submit to reddit Share on Google+

Sign-up to our email newsletter for daily perspectives on car design, trends, events and news, not found elsewhere.

Comments

love it! very interesting topics, i hope the incoming comments and suggestion are equally positive. Thanks for sharing information that is actually helpful. wizard88 tulleeho.org
I like your post a lot! You should write some more on this!Great job coming with such terrific post!

Pages