“We think better cost performance was a key driver of the improvement in North American and possibly higher profitability on cars than we had anticipated.”
“Ford's restructuring plan was widely anticipated, but was more vague and protracted than we expected, which is disappointing. We also see sizable North American share loss continuing, weighing on earnings and offsetting many restructuring benefits.”
“We believe that GM's market share will continue to face persistent long term downward pressure, and that market pricing pressure will intensify over time, eroding GM fundamentals further.”
“We doubt a buyer gets in front of risk that a strike cripples GM North America. UAW negotiations tend to go down to the wire - now March 31 - so a GMAC sale is harder to envision before sometime in the second quarter.”
“We doubt a buyer gets in front of risk that a strike cripples GM North America. UAW negotiations tend to go down to the wire — now March 31 — so a GMAC sale is harder to envision before sometime in the second quarter.”
