[ZR1] Maybe waiting for ZR1 prices to drop over the winter is not such a good idea
11-07-2008, 12:22 PM
#1
Burning Brakes
Thread Starter
Maybe waiting for ZR1 prices to drop over the winter is not such a good idea
GM Almost Out Of Cash
No. 1 automaker posts huge loss - says it has made case to Washington for rescue.
Last Updated: November 7, 2008: 11:57 AM ET
http://money.cnn.com/2008/11/07/news...ion=2008110711
No. 1 automaker posts huge loss - says it has made case to Washington for rescue.
Last Updated: November 7, 2008: 11:57 AM ET
http://money.cnn.com/2008/11/07/news...ion=2008110711
11-07-2008, 01:19 PM
#2
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I think that all these brain trusts that are waiting for the MSRP ZR1's are going to be sadly disappointed to see that maybe the ZR1 is expendable to GM and it's production will cease. Then where will they be? I hope that doesn't happen, but it may and those "idiots" that paid all the $, will have a windfall profit maker. The rest of you guys, keep waiting, maybe you'll pass at 20K over MSRP and pass up the oppurtunity of a lifetime.
11-07-2008, 01:40 PM
#3
Le Mans Master
The question is how easily Bowling Green can be converted over to produce "Cobaltettes" or whatever piece of sh+t will be mandated in the near future. GM can't run that production line forever at a rate that's less than one full shift . . .
11-07-2008, 01:45 PM
#4
Racer
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I'm worrying that GM won't exist
My car is on a transport as I type this and I'm very worried about the cars future value. Forget about the MSRP Premium I paid.
I'm thinking if GM survives, they'll make year 2 of the ZR1 because it is profitable and they have a bunch of sunk cost in the design. So no big deal, normal depreciation and we all eat our premiums.
But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death.
I'm thinking if GM survives, they'll make year 2 of the ZR1 because it is profitable and they have a bunch of sunk cost in the design. So no big deal, normal depreciation and we all eat our premiums.
But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death.
11-07-2008, 02:25 PM
#5
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I think that all these brain trusts that are waiting for the MSRP ZR1's are going to be sadly disappointed to see that maybe the ZR1 is expendable to GM and it's production will cease. Then where will they be? I hope that doesn't happen, but it may and those "idiots" that paid all the $, will have a windfall profit maker. The rest of you guys, keep waiting, maybe you'll pass at 20K over MSRP and pass up the oppurtunity of a lifetime.
11-07-2008, 02:26 PM
#6
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My car is on a transport as I type this and I'm very worried about the cars future value. Forget about the MSRP Premium I paid.
I'm thinking if GM survives, they'll make year 2 of the ZR1 because it is profitable and they have a bunch of sunk cost in the design. So no big deal, normal depreciation and we all eat our premiums.
But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death.
I'm thinking if GM survives, they'll make year 2 of the ZR1 because it is profitable and they have a bunch of sunk cost in the design. So no big deal, normal depreciation and we all eat our premiums.
But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death.
11-07-2008, 02:32 PM
#7
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GM Almost Out Of Cash
No. 1 automaker posts huge loss - says it has made case to Washington for rescue.
Last Updated: November 7, 2008: 11:57 AM ET
http://money.cnn.com/2008/11/07/news...ion=2008110711
No. 1 automaker posts huge loss - says it has made case to Washington for rescue.
Last Updated: November 7, 2008: 11:57 AM ET
http://money.cnn.com/2008/11/07/news...ion=2008110711
11-07-2008, 02:43 PM
#8
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GM Reports $2.5B 3Q Loss, Says Running Out of Cash- AP
General Motors Corp. says it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009. GM also said it has suspended talks to acquire Chrysler. The automaker also said its cash burn for the quarter accelerated to $6.9 billion due to a severe U.S. auto sales slump.
And, sadly, today, the stock of GM has stopped trading.
You know, sometimes companies are just stupid, and GM truly is. I love Corvettes and so do a lot of people. They have stumbled onto a winner, that being the ZR1, and finally have a car model that people want. What does GM do? They artifically want to limit production and , with another kick to the consumer, they stand pat and allow the dealers to try and rape any potential buyers.
I feel sorry for GM, as there are great memories of great cars over the years, but they deserve the place they are in now.
The comments about values of the ZR1 plummeting will be realized and the scarcity of parts will also be true. This will also be true for all other models and makes.
Sad.
General Motors Corp. says it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009. GM also said it has suspended talks to acquire Chrysler. The automaker also said its cash burn for the quarter accelerated to $6.9 billion due to a severe U.S. auto sales slump.
And, sadly, today, the stock of GM has stopped trading.
You know, sometimes companies are just stupid, and GM truly is. I love Corvettes and so do a lot of people. They have stumbled onto a winner, that being the ZR1, and finally have a car model that people want. What does GM do? They artifically want to limit production and , with another kick to the consumer, they stand pat and allow the dealers to try and rape any potential buyers.
I feel sorry for GM, as there are great memories of great cars over the years, but they deserve the place they are in now.
The comments about values of the ZR1 plummeting will be realized and the scarcity of parts will also be true. This will also be true for all other models and makes.
Sad.
11-07-2008, 02:45 PM
#9
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St. Jude Donor '09
"But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death. "
I would think GM would keep a surplus of parts to service ZR1s for a period of time. If they stop making this car, the value of the existing
ZR1s would likely go up because they would become more rare. Also, it is unlikely an American auto manufacturer wil be producing a higher HP rear weel drive car. The ZR1 may very well be a pininacle for HP cars as we know them, which would make them very desirable.
I would think GM would keep a surplus of parts to service ZR1s for a period of time. If they stop making this car, the value of the existing
ZR1s would likely go up because they would become more rare. Also, it is unlikely an American auto manufacturer wil be producing a higher HP rear weel drive car. The ZR1 may very well be a pininacle for HP cars as we know them, which would make them very desirable.
11-07-2008, 02:53 PM
#10
Burning Brakes
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11-07-2008, 02:53 PM
#11
Le Mans Master
My car is on a transport as I type this and I'm very worried about the cars future value. Forget about the MSRP Premium I paid.
I'm thinking if GM survives, they'll make year 2 of the ZR1 because it is profitable and they have a bunch of sunk cost in the design. So no big deal, normal depreciation and we all eat our premiums.
But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death.
I'm thinking if GM survives, they'll make year 2 of the ZR1 because it is profitable and they have a bunch of sunk cost in the design. So no big deal, normal depreciation and we all eat our premiums.
But if GM runs out of cash and ceases operations, then how do they support the ZR1? Service and spare parts will be tough. Resale value will drop very quickly. The worlds greatest sports car will fall apart and die a slow death.
11-07-2008, 04:15 PM
#12
Team Owner
You know, sometimes companies are just stupid, and GM truly is. I love Corvettes and so do a lot of people. They have stumbled onto a winner, that being the ZR1, and finally have a car model that people want. What does GM do? They artifically want to limit production and , with another kick to the consumer, they stand pat and allow the dealers to try and rape any potential buyers.
Last edited by TA; 11-07-2008 at 07:52 PM.
11-07-2008, 04:33 PM
#13
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11-07-2008, 04:33 PM
#14
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GM Reports $2.5B 3Q Loss, Says Running Out of Cash- AP
General Motors Corp. says it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009. GM also said it has suspended talks to acquire Chrysler. The automaker also said its cash burn for the quarter accelerated to $6.9 billion due to a severe U.S. auto sales slump.
And, sadly, today, the stock of GM has stopped trading.
You know, sometimes companies are just stupid, and GM truly is. I love Corvettes and so do a lot of people. They have stumbled onto a winner, that being the ZR1, and finally have a car model that people want. What does GM do? They artifically want to limit production and , with another kick to the consumer, they stand pat and allow the dealers to try and rape any potential buyers.
I feel sorry for GM, as there are great memories of great cars over the years, but they deserve the place they are in now.
The comments about values of the ZR1 plummeting will be realized and the scarcity of parts will also be true. This will also be true for all other models and makes.
Sad.
General Motors Corp. says it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009. GM also said it has suspended talks to acquire Chrysler. The automaker also said its cash burn for the quarter accelerated to $6.9 billion due to a severe U.S. auto sales slump.
And, sadly, today, the stock of GM has stopped trading.
You know, sometimes companies are just stupid, and GM truly is. I love Corvettes and so do a lot of people. They have stumbled onto a winner, that being the ZR1, and finally have a car model that people want. What does GM do? They artifically want to limit production and , with another kick to the consumer, they stand pat and allow the dealers to try and rape any potential buyers.
I feel sorry for GM, as there are great memories of great cars over the years, but they deserve the place they are in now.
The comments about values of the ZR1 plummeting will be realized and the scarcity of parts will also be true. This will also be true for all other models and makes.
Sad.
11-07-2008, 04:42 PM
#15
Melting Slicks
Obama clearly stated in his press conference that they need to explore options with regards to helping the automakers. There is no freaking way the government can afford to let GM or Ford go under; they are responsible directly and indirectly for hundreds of thousands of jobs. GM is in trouble, but no way they will go under. They may operate under bankruptcy protection for a while, but, will never in our lifetimes, go out of business.
11-07-2008, 05:05 PM
#16
Le Mans Master
Obama clearly stated in his press conference that they need to explore options with regards to helping the automakers. There is no freaking way the government can afford to let GM or Ford go under; they are responsible directly and indirectly for hundreds of thousands of jobs. GM is in trouble, but no way they will go under. They may operate under bankruptcy protection for a while, but, will never in our lifetimes, go out of business.
And parts. There's not a Corvette made that you can't still get parts for. There are way too many aftermarket companies for that to ever be a problem.
11-07-2008, 05:46 PM
#17
Safety Car
It has tons of torque. It has traction control to help keep all those ponies planted. It can sip fuel at rates not even thought of in the 60's with the same cubic inches and horsepower outputs. It has a (relatively) easy HP upgrade path (a pulley swap & computer program). It has magnetic shocks to make it ride like a Caddy on the highway, yet still it can turn corners and leave your passengers face stuck to the side window. It has the most awesome brakes ever put on a production Corvette. It has carbon-fiber panels to make it even lighter.
Do I really NEED to go on? This car, in 40 years, will STILL smoke L88's and will sell for higher prices than the L88 is selling for now.
11-07-2008, 06:19 PM
#19
Race Director
I just don't get it. Toss a few hundred billion GM's way so the 100+ thousand unemployed workers can sit in the break room for another 4 years at full wage. How is that going to help. GM's concern should be, no one is buying cars right now because no one knows if they will have a job tomorrow. Giving them money to build more cars that they can't sell will help how? Here's an idea, give us all 25K and let us go buy a GM car. That will at least keep some of them working. Where's muh check??????
fug gm and their over paid work force. Shut it down. Let them stand in the unemployment line with everyone else. Why should this company get a bail out and others not. We lost a million more jobs last I heard. Why should GM be protected?
fug gm and their over paid work force. Shut it down. Let them stand in the unemployment line with everyone else. Why should this company get a bail out and others not. We lost a million more jobs last I heard. Why should GM be protected?
Last edited by bizaro; 11-07-2008 at 06:21 PM.
11-07-2008, 06:40 PM
#20
Burning Brakes
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Great idea. Maybe the government should reward us buying american vehicles with some type of tax break. Maybe writing off interest on American made vehicles for a year or two.....
And for all those that buy foreign stuff built here and self assure themselves that "well it's made in America". Phooey! Profits go back overseas and they use more of their own parts and materials from their own region of the world.
Charity starts at home. If your kids are starving you don't give the last piece of bread to someone in China...
And for all those that buy foreign stuff built here and self assure themselves that "well it's made in America". Phooey! Profits go back overseas and they use more of their own parts and materials from their own region of the world.
Charity starts at home. If your kids are starving you don't give the last piece of bread to someone in China...