“Honda and Toyota got billions in government subsidies to build factories in the US. GM didn’t. Hard compete with a subsidized competitor.”
Charlie, do you honestly believe this is the reason why Honda and Toyota are successful and GM recently filed for bankruptcy? I have a hard time believing that. Please let me know how much in subsidizes Honada and Toyota received as I can’t imagine those few dollars are material compared to the tens of billions of dollars in pension liabilities that GM had on its books.
In addition, prior to GM filing for bankruptcy union related costs added thousands of dollars per car they manufactured thus costing them more to produce the car than their selling price (and please don’t tell me they make it up in volume, lol).
That my friend is why GM filed for bankruptcy while Honda and Toyota did not.