How Is Obamamotors Doing?

You undoubtedly know by now that Obama owns GM and Chrysler. So, how are all those car companies doing, now that they're under new management? Patterico brings us the answer:

Yahoo reports that, in June 2009, GM’s sales declined 33.4%, Toyota’s sales were off 32%, Honda fell 30%, Nissan was down 23%, and Chrysler’s numbers were dismal. It sold 68,297 cars nationwide. In contrast, Ford gained market share and it’s sales were only off 10.7% compared to June 2008. In fact, Ford plans to increase production by 25,000 vehicles. What a mystery:

“Ford’s surprisingly low decline came after a string of months in which it and other automakers reported year-over-year drops of more than 40 percent. Ford’s sales were down 24 percent in May and off 37 percent for the first five months of the year.”

What could cause this disparity? The next paragraph hints at the answer:

“Ford is the sole U.S. automaker to avoid bankruptcy protection and it’s the only one not receiving government loans to keep from running out of money. GM and Chrysler are receiving billions in loans, and GM inching its way closer to escaping Chapter 11 bankruptcy, which allows a company to stay in operation under court protection while it sheds debts and unprofitable assets to emerge in a stronger financial position.”

The government contends car sales will stabilize once Chrysler and GM emerge from bankruptcy and the economy improves. Maybe so. All I know is I’m not interested in buying from a government/union-owned car company.

Neither, apparently, are most Americans. Go figure. As we've discussed here before, this should be a veeeery interesting case study in comparing Ford to Obamamotors. Of course, Obama can't very well let that comparison continue, so he's going to have to do something to destroy Ford's ability to succeed. Just watch...it's coming.

There's my two cents.