Steven Rattner - After bankruptcy, GM, Chrysler turn the corner
Both companies are also doing better in the marketplace. Market-share declines have been arrested. Bloated inventories on dealers’ lots have been reduced dramatically. Use of sales incentives such as rebates and interest-free financing — the cocaine of the auto industry — has been substantially reduced.
And the prices that the cars are fetching have risen sharply since last year: by $2,500 for GM and $2,400 for Chrysler. That means that the companies’ historically poor images — brand equity, in industry parlance — have begun to improve.
OMG SMART GOVERNMENT WORKS! Calling Newt Gingrich - secular-socialism is on the march! Be afraid, be very afraid.