American Auto Industry
Posted by portlandon On 2008/10/9 15:58:40
Wow. Did you see the price of stock for GM & Ford? This is crazy. Does this look like what the End of Packard looked like? I wasn't alive back than, but wonder if this might be the beginning of the merger of GM & FORD? They might have to if they want to survive. Sad days for the American Auto Industry. (I do not want this to get into politics, just the automotive side of it!)
GM shares fall to lowest level since 1950
Thursday October 9, 11:53 am ET
DETROIT (Reuters) - General Motors Corp (NYSE:GM - News) shares fell as much as 21.6 percent to their lowest level since 1950 on Thursday amid financial market turmoil and the car maker's report of European sales declines through the first nine months of 2008.
GM, whose shares fell as low as $5.42 on the New York Stock Exchange, blamed the credit crisis and inflation for hurting consumer confidence in Europe, where its sales have declined 1.9 percent in 2008 through September.
Citigroup also cut GM and Ford Motor Co (NYSE:F - News) to "sell" ratings on Wednesday.
Ford shares fell 20 cents, or 7.5 percent, to $2.46 on Thursday. Ford stock had reached its lowest level in a quarter century on Wednesday, falling as low as $2.10.
GM shares were off $1.01, or 14.6 percent, at $5.90.
Attach file:
(10.14 KB)
GM shares fall to lowest level since 1950
Thursday October 9, 11:53 am ET
DETROIT (Reuters) - General Motors Corp (NYSE:GM - News) shares fell as much as 21.6 percent to their lowest level since 1950 on Thursday amid financial market turmoil and the car maker's report of European sales declines through the first nine months of 2008.
GM, whose shares fell as low as $5.42 on the New York Stock Exchange, blamed the credit crisis and inflation for hurting consumer confidence in Europe, where its sales have declined 1.9 percent in 2008 through September.
Citigroup also cut GM and Ford Motor Co (NYSE:F - News) to "sell" ratings on Wednesday.
Ford shares fell 20 cents, or 7.5 percent, to $2.46 on Thursday. Ford stock had reached its lowest level in a quarter century on Wednesday, falling as low as $2.10.
GM shares were off $1.01, or 14.6 percent, at $5.90.
Attach file:
(10.14 KB)This Post was from: https://packardinfo.com/xoops/html/modules/newbb/viewtopic.php?post_id=14206