No Options! CEO Mary Barra Reveals GM will Leave US avoid bankruptcy!

No Options! CEO Mary Barra Reveals GM will Leave US avoid bankruptcy!
GM launches a series of new models like Cadillac CT4-V Blackwing, Chevy Bolt EV Refresh, Three-Row Buick Envision GX, Chevy Silverado 1500, and New Chevy Small CUV. However, GM's business in the US is still not any evolution. Even GM is planning to close 5 factories in North America. To overcome a series of difficulties, GM decided to shake hands with China, America's big enemy.
So, what's happened? Why did GM choose China?
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In the third decade of the 21st century, GM may again be a big brand in big trouble paying the high cost of brand positioning failure.
The company's U.S. market share of 17.1% is a far cry from its 44% share. Market share in China, GM's largest market for the past seven years, plateaued at 4 million units in 2017 and has been going downhill ever since. Equally or more troubling, its market share in South America has declined by almost 40% between 2014 and 2022.
GM has chosen to be weak everywhere instead of strong somewhere in positioning the brand.
As Carl Showalter, played by actor Steve Buscemi says to Jerry Lundergard in the movie Fargo, “Blood has been shed, Jerry.” OK, maybe not blood in the literal sense, but a lot of business bleeding. Much of it has been self-inflicted by GM over its history. Some mistakes, like poor brand positioning and portfolio strategy, are foundational.
Now GM sales fell 20 percent to 512,846 units during the first quarter of 2022 in the United States. Sales decrease at all four GM brands, including Buick, Cadillac, Chevrolet, and GMC.
In addition, General Motors announced that it can plan to idle five North American factories and cut 10, 000 jobs.
Another issue involves reallocating resources in the face of fundamental market shifts. When and how are the best ways to do it? These are questions that don't get asked enough. It's important because companies build assets and capabilities to deliver products and services to a market of consumers that values them at some point in time. But needs and tastes shift, and changing assets and company processes are complex.
No Options! CEO Mary Barra Reveals GM will Leave US avoid bankruptcy!#TeslaFans #teslanews #teslamotorfans
No Options! CEO Mary Barra Reveals GM will Leave US avoid bankruptcy!