If a Liberal steps in to help, expect to clear the beaches; because the tsunami is coming soon after.
And that’s just what’s happened with Obama “investment” in GM: the car company that kills.
GM vehicles have lost double the average car value, since our “investment,” according to this report.
Lawsuits have also been filed by consumers, seeking not only restitution for damages in relation to the accidents caused by the ignition switch problem, but also because, as a result, the values of customers’ vehicles have gone down. The accelerated rate of depreciation has effected millions of people, and has left many of them angry and looking for answers. The recalls have also eaten into GM”s earnings, bringing on the ire of investors and the stock market.
The company recently released its latest earnings report, which saw profits absolutely nosedive. A profit of $200 million was reported, following costs of $1.2 billion related to the recalls.
60 recalls involving over 26 million vehicles.
With production numbers like this, one has to ask if GM is serious about making cars! No manufacturer could withstand such a financial hit (nor should they), without government theft propping them up.
Find out which cars have lost the most value here.