They’re not wrong.
“Focus on your core,” Murphy said, speaking at an event organized by the Automotive Press Association where he presented the bank’s annual Car Wars report. “And China is no longer a core strategy to GM, Ford or Stellantis.”
Every American brand car in the past decade looks and acts like shit and is wildly overpriced. Foreign cars continue to outperform. And a few years ago, I would have gotten a Tesla until Musk revealed he was bat shit insane.
Tesla’s are basically screens on wheels.
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Surprise, surprise. Bank who wants infinite growth of stock prices tells companies to lower costs to be more competitive. Guess where that will come from?
Either quality or labor costs. It isn’t coming from the CEO’s pockets.
The car industry execs should be laughing their heads off at naive bank execs assuming they know more about it than the car execs. Don’t they think the car execs already know what the risk and competitive nature of their own business.
Guess what bankers, this is how you produce positive growth in a real productive industry, and its risky business. Instead the bankers prescription assumes managed decline.
It’s like that new guy at work who constantly tells everyone about ‘hacks’ only they’ve discovered, when everybody already knows about them.
