The automotive information company points out that that in spite of the doom and gloom there are a few things that tend to get overlooked in the news.
The view from Auto Credit Express
Here at Auto Credit Express, we've always said that there are definite advantages to having our headquarters literally in the backyard of the domestic automakers.
Since our business is directly related to the automotive industry – we sell leads, both prime and subprime, as well as subprime desking software to retail car dealers – working and living in the Detroit metro area gives us a unique perspective on the entire industry. Not only are we closely associated with the retail side of the business, but our friends and neighbors also work for the auto manufacturers (both blue collar and white collar), their suppliers and even their advertising agencies.
For the most part, this means that we, along with all these people, regularly go through the peaks and valleys of the automotive industry. But even with all this experience, nothing has prepared us for what the entire industry has experience in the past year.
This past two months have been especially stressful and it all culminated with General Motors bankruptcy filing on Monday. Maintaining a positive attitude has not been easy, but we were given a boost today from the folks at NADAguides.com that were good enough to point out a few facts to us:
Fact Finding Mission Uncovers Things You Didn't Know About General Motors and Greater Auto Industry -
• Although filing for bankruptcy protection, General Motors is not going anywhere. There are still cars on dealership lots and still consumers who need cars.
• Dealerships will still sell cars, and the warranty coverage remains intact allowing current and future owners to take their cars in to the dealership for service.
• General Motors has more hybrids on the market than any other auto manufacturer offering nine (9) different models, from the Malibu Hybrid sedan to the full-size Silverado Hybrid. GM is actually setting the benchmark for other automakers with a full line of hybrids and other alternative-based vehicles.
• General Motors leads the auto industry with the most vehicles that get 30+ mpg.
• Included in this line-up are: (Chevy) Cobalt Coupe, Aveo4, Aveo5, Malibu, Malibu Hybrid, HHR, HHR Panel, (Pontiac) Vibe, G5, G6, (Saturn) Astra, Aura, Aura Hybrid, Vue, Vue Hybrid*. (*per GM.com)
• General Motors has more than 3 million E85 Flex Fuel capable vehicles on the road.
• Ford and General Motors combined for five of the top 10 selling vehicles in May.
• Trucks - The Ford F-Series continues to be America's #1 truck. It was the best selling vehicle in America in May with 33,381. The Chevy Silverado was second best with 31,463.
The Bottom Line
Although we sometimes lose sight of these facts, everyone here at Auto Credit Express knows that changes do not always come easily – especially when they're required after years of having to deal with the huge legacy costs that, admittedly, the industry brought upon itself. We can only hope that the current turmoil will result in long-lasting changes that place the domestic industry at the leading edge in terms of product innovation and customer satisfaction.