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Author: admin | Category: Loan Car Calculator | Date: 12.04.2014

Throughout the 1980s General Motors controlled almost half of the American automobile market, and since then that share has diminished to less than 20 percent.
However, critics believe that GM could have downsized without bankruptcy had it not ignored its lingering problems and declining market share for decades.
Yet while the downsizing of GM has made the company more viable, viability is not competitiveness. The debate about whether or not the government should have bailed out GM is likely to continue.
In the past decade, as GM struggled to convince its investors that it had a viable business model, its stock steadily declined.
Through its recent bankruptcy, GM overcame legal and structural barriers to downsizing and sold off all but its four core brands. In terms of viability, restructuring means that GM is less likely to lose large sums of money.
The only way to reverse this trend will be to introduce new, innovative, and affordable vehicles that consumers want to buy. Get helpPassword recoveryRecover your passwordyour email A password will be e-mailed to you. The economic crisis, and an accompanying collapse in car sales, was the final nail in the coffin. As Wilkinson explained, “the goal of GM in resizing the business is to be able to break even during the worst down turns.


But given the large number of players in the industry, it is unlikely that one company will dominate. In the future, as GM becomes even smaller, and as foreign automakers employ more workers within the United States, it is unlikely that this cost-benefit analysis will favor GM. As GM suffered through this degenerative process in which the company became too large to manage given its reduced market share, structural barriers and a corporate culture of complacency prevented it from downsizing without government intervention.
Additionally, GM transferred responsibility for the health benefits of retirees to a trust in the control of the Union of Auto Workers. But Winston sees nothing remarkably different in the new GM that will produce a more competitive company. This development is bad for GM, but good for consumers; over the last three decades, increased competition has produced more reliable, higher quality, and diverse cars. Yet while government-assisted bankruptcy has allowed the company to unload debts and reduce its break-even point, the gain in viability does not equate to a gain in competitiveness going forward.
All these changes have reduced GM’s fixed costs, creating a lower break-even point for the company. In addition consumer’s new and used car finance volumes grew by similar rates – up 24 per cent and 25 per cent. GM’s profits are dependent on its number of car sales, and car sales have shown great vulnerability to fuel prices. The plan GM submitted to the government predicted gas to be at $4 per gallon by 2014, and for industry auto sales to return to the all-time highs of 2005-2006 by 2014.


Simon Gray, founder and director of Credo Asset finance, who offer car finance in Norwich expressed “Asset finance has certainly been a difficult market to be in during the recession, as funding has become increasingly hard to secure with funders disappearing and a shrinking market has seen a reduction in investment in vehicles and plant”. However, as the economy has grown, Mr Gray stated they have already seen “significant growth” revealing that the company has secured ?1m of funding which is projected to increase its own lending from ?600,000, to more than ?2m by the end of 2014.As the UK’s economy continues to grow with latest predictions stating that the UK economy will exceed its pre-recession peak this summer, the car finance market is looking much more optimistic for the year ahead. Geraldine Kilkelly, head of research and chief economist at the FLA, states that the ‘figures reflect the latest FLA Motor Finance Confidence Survey for Q1 2014 that found motor finance providers remain optimistic about growth in 2014’.
Below are just a few reasons why so many consumers chose car finance.To keep getting a new carConsumers have the opportunity to get a brand new car on finance and once the contract is up, are able to swap it for a different brand new car.
This means that consumers can continually have a new car every few years without investing in one new specific model, where the car value depreciates very quickly.
However for those consumers that are just starting out with credit, having a successful car finance agreement on their credit record can be a very good thing and can help to get a good credit history.Affordability and better budgetingRather than having to pay a big lump sum for a brand new car, consumers can pay for the car in affordable monthly repayments. Furthermore, an agreement like this is particularly great for consumers that don’t have the savings to invest in a car, but require the use of a car immediately.LifestyleIf consumers find themselves in a situation where they no longer need a car, they are able to give the car back (depending on the type of contract the consumer agrees to).




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