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Tariffs cost GM 1 billion dollars
HuskyBuck
Member, Swaye's Wigwam Posts: 2,899 
in Tug Tavern
It will cost them $5 billion by EOY but ewwwwhhhhrrrrrrr the exporter must be paying for it!!!!!
If only GM had a great negotiator like @Bob_C that could have mitigated this damage!!!!
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According to Bob C we are just waiting for (what was his term?) reciprocal wtf? to kick in. No problem recouping that $1100000000.00 in lost revenue right Bob C?
lol. They need someone to negotiate.
In a quarterly earnings call with investors, the chief financial officer of General Motors said Tuesday morning that tariffs cost the company approximately $1.1 billion over three months, bringing the company's profit margin from 9% down to 6.1% — that is, from meeting their target profitability to falling several percentage points short.
CFO Paul Jacobson said that so far, the company has only been able to reduce the blow to profits by a minimal amount. But they're hoping that will change.
Sure bud. It was the tariffs.
Bro Race, I seriously can’t believe how dumb some of the people on this board are. Stupid Everett Chris think you’re hurting the exporting countries. Look at what happened to GM. It’s fucking math.
Remember that tariff revenue everyone was bragging about? Here’s where it came from. Right out of private enterprise into the US government coffers!!!
Gibberish
I was promised consumer pay 100% of tariffs. Car prices are deflating this year. Agreed that GM needs to do better here (if true). No one hands you the money without asking or using leverage.
Stop making American cars with foreign parts or in foreign plants. That's the real goal! Make American, buy American!
Apart from Mustangs and a couple of other cars, American cars are practically extinct. If you mean SUVs and trucks, I guess so.
or EVER do your links dipstick, sincerely most here
You assholes say I don't give proof. Then you say you don't read my links. And then people wonder why I don't answer questions here.
What they mean to say is, you’re not giving “their” proof. You can give numbers and proven facts all day (even words directly from Trumps mouth) and if it doesnt support their narrative, it doesnt qualify
looks like our little cubicle jockey took a PTO day yesterday
The catch's strategy: you must show proof to refute my grossly oversimplified views of the world, and if you refuse throw meltdown with homosexual imagery.
homosexual imagery?
lol what
also, it’s not my problem you hurdled yourself into a discussion unprepared and uninformed.
It would help GM immeasurably if they produced quality products that can compete with Toyota, Hyundai and Kia.
And produced them domestically. If they have that many tariffs they are operating overseas
To lose a billion in three months when TACO Trump was allegedly backing off tariffs is quite the feat
If I am on the board we're looking for a new CEO
GM is doing poorly in a deflationary car price environment. Hard to believe.
Don’t you idiots see there’s a reason they were producing them offshore in the first place? Capitalism made that decision for them. Yes bring it back to the states….just be prepared to pay a premium for that.
There’s no ehhhhhwwwwwwrrrrr we can bring production back to the states and not feel any impacts. Something will have to give. Companies will be less profitable or they will pass those costs to the consumers. It’s one or the other. I’m willing to pay that premium if so….I just don’t want to hear any more bitching about inflated costs when the effects kick in when Trump is out of office.
Nothing can be done
Buck comes out in favor of low wages paid to foreign workers and no jobs for Americans
About what you'd expect from a traitor
Oh the horror!