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Detroit, 2:21 PM
Tue Dec 8
26 posts in the last 24 hours

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    Maserati Slips Into Rear Of Latest Top Ten Most-Researched Gay Cars List
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    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of SeanKHotay SeanKHotay
    01/01/09

    In reply to Auto Recalls Total 1.84 Million In China Over Last Four Years
    The real follow-up question to Chinese recalls is this:


    Did any of the rectification or correction procedures for the automotive shortcomings include execution for hooliganism?

     Reply
    SeanKHotay was starred SeanKHotay was unstarred
    Image of LionZoo LionZoo
    01/01/09

    In reply to Auto Recalls Total 1.84 Million In China Over Last Four Years
    Because this is Jalopnik, there's a strong anti-Chinese bias in this piece. The reason Honda had the biggest single recall probably has to do with the fact that China's domestic industry really isn't up to speed yet and so a very big percentage of the Chinese sales is joint partnerships with foreign companies. I'm at a loss to explain the bit about Mercedes though, but I guess their quality in China is no different than their American quality; I have friends with Mercedes-Benzes and it seems engine failures before 60,000 miles is quite common. This supposedly isn't normal, but it seems to be a rule among my group of friends.
     Reply
    LionZoo was starred LionZoo was unstarred
    Image of SeanKHotay SeanKHotay
    01/01/09

    @LionZoo: So, after reading your note, can I infer that 'bias' = truth/fact?
     Reply
    SeanKHotay was starred SeanKHotay was unstarred
    Image of MushyHeirloom MushyHeirloom
    01/01/09

    @LionZoo: I'd say it has more to do with Honda being an international corporation, and having to take basic safety precautions or answer to the wrath of its parent company.


    Just a guess.

     Reply
    MushyHeirloom was starred MushyHeirloom was unstarred
    Image of karlsl karlsl
    12/31/08

    In reply to Auto Recalls Total 1.84 Million In China Over Last Four Years
    Is the pic taken in Guangdong Honda plant? If it was, then I am not surprises of any recall. look at the picture, it is a mess!!!
     Reply
    karlsl was starred karlsl was unstarred
    Image of mechimike mechimike
    01/01/09

    @karlsl: That's the sort of mess a car usually looks like after its a) about 30 years old, and b) parked in my barn halfway through a transplant of a malfunctioning wiper motor.
     Reply
    mechimike was starred mechimike was unstarred
    Image of Jo Schmo Jo Schmo
    12/31/08

    In reply to Auto Recalls Total 1.84 Million In China Over Last Four Years
    I think something got lost in translation. I believe that should be 1.84 million different products from china have been recalled.
     Reply
    Jo Schmo was starred Jo Schmo was unstarred
    Image of Jo Schmo Jo Schmo
    12/30/08

    In reply to GMAC Resumes Car Loans To Customers With Crappier Credit
    So if I drive my expensive "private" automobile to the GM dealer and "beg" for a car loan because times are hard I should get it right?
     Reply
    Jo Schmo was starred Jo Schmo was unstarred
    Image of zeeboid zeeboid
    12/30/08

    In reply to GMAC Resumes Car Loans To Customers With Crappier Credit
    good move GM. Way to do the same as all the other lenders below you. A car you can take back and regain your losses from pretty easially compaired to a house.


    this is good news here.

     Reply
    zeeboid was starred zeeboid was unstarred
    Image of Ash78, cube farmer Ash78, cube farmer
    12/30/08

    @zeeboid: One problem with cars, though...


    Houses are immobile, unlike cars. Houses have land tied to them--even if the house is destroyed, there's still value.


    For gross recovery values, a lender usually gets about 70%+ of the value of a foreclosed home (before fees), while a car is usually under 50% (minivans and crappy compacts, about 30%!).


    9 times out of 10, a million dollars in foreclosed houses will lose far less than a million dollars in cars.

     Reply
    Ash78, cube farmer was starred Ash78, cube farmer was unstarred
    Image of jbownsabmw- Koopas Beware jbownsabmw- Koopas Beware
    12/30/08

    In reply to GMAC Resumes Car Loans To Customers With Crappier Credit
    So they successfully held the Gubment hostage for their share of the pie?


    I would venture to guess there was not a single person at GMAC who believed requiring a 700 was good business practice.

     Reply
    jbownsabmw- Koopas Beware was starred jbownsabmw- Koopas Beware was unstarred
    Image of Ash78, cube farmer Ash78, cube farmer
    12/30/08

    @jbownsabmw but still wants GM to survive: Let's use the 80/20 rule for profits and losses for a second. The lowest 20% of the credit scores will provide 80% of the profit and 80% of the losses. However, when times get tough, those groups often provide 90% of the losses or more.


    So sometimes the easiest thing to do is just to cut off the lower 20% of your customers (or even the bottom 50%, possibly eliminating 95% of all potential losses) in order to simply keep the ship afloat...and to be able to reduce overhead in loan servicing (such as repos).


    The rub is that you might break even, but at least you don't get hit with the massive downside in losses. And the other side of that coin is that when (if) things turn around for the better, your portfolio is not profitable because all your customers are upstanding individuals who never miss a payment.

     Reply
    Ash78, cube farmer was starred Ash78, cube farmer was unstarred
    Image of jbownsabmw- Koopas Beware jbownsabmw- Koopas Beware
    12/30/08

    @The Name's Ash78, Housewares: I stand corrected.
     Reply
    jbownsabmw- Koopas Beware was starred jbownsabmw- Koopas Beware was unstarred
    Image of Ash78, cube farmer Ash78, cube farmer
    12/30/08

    @jbownsabmw but still wants GM to survive: No correction intended...just expanding on it. 700+ is a very safe practice, just not profitable.
     Reply
    Ash78, cube farmer was starred Ash78, cube farmer was unstarred
    Image of YotaLoLux YotaLoLux
    12/30/08

    In reply to GMAC Resumes Car Loans To Customers With Crappier Credit
    Two words: Subprime Cadillacs.
     Reply
    YotaLoLux was starred YotaLoLux was unstarred
    Image of DoctorNine DoctorNine
    12/30/08

    @YotaLoLux: Oh, well done...
     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of Ash78, cube farmer Ash78, cube farmer
    12/30/08

    In reply to GMAC Resumes Car Loans To Customers With Crappier Credit
    Coming from the world of consumer lending, 620 is about our median customer. That's far from "crappy" in the consumer world. In fact, that's about the highest floor I'd allow if I ever expected to make a profit.
     Reply
    Ash78, cube farmer was starred Ash78, cube farmer was unstarred
    Image of six six
    12/30/08

    @The Name's Ash78, Housewares: Profit, eh?
     Reply
    six was starred six was unstarred
    Image of Ash78, cube farmer Ash78, cube farmer
    12/30/08

    @six: Sorry, forgot we were talking about GM here. That's not part of the business plan.
     Reply
    Ash78, cube farmer was starred Ash78, cube farmer was unstarred
    Image of Jo Schmo Jo Schmo
    12/26/08

    In reply to The Ten Ugliest Cars Currently Sold In The United States
    no
     Reply
    Jo Schmo was starred Jo Schmo was unstarred
    Image of Novaload Novaload
    12/19/08

    In reply to Ten New Cars Cheap Enough To Gift This Holiday
    You have to love the not-fabulous deals these shite-boxes have. They must be selling like crazy!
     Reply
    Novaload was starred Novaload was unstarred
    Image of bmwloco bmwloco
    12/18/08

    In reply to Ten New Cars Cheap Enough To Gift This Holiday
    VW Rabbit 5 speed manual, ESP, iPod adapter, etc. $15,900.


    Why buy something that won't be worth nothing in 3-5 years?

     Reply
    bmwloco was starred bmwloco was unstarred
    Image of damnelantra™ damnelantra™
    12/18/08

    @bmwloco: why buy something that wont make it past 6o,ooo miles?


    or has vw worked out their hecho en mexico operations?

     Reply
    damnelantra™ was starred damnelantra™ was unstarred
    Image of Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face.
    12/18/08

    @bmwloco: won't be worth nothing = Will be worth something?
     Reply
    Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. was starred Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. was unstarred
    Image of skitter skitter
    12/18/08

    In reply to Ten New Cars Cheap Enough To Gift This Holiday
    I think it's commendable when a vehicle can be had with no radio or a/c. But I represent a very small portion of the market, and the question of my sanity is rather subjective.
     Reply
    skitter was starred skitter was unstarred
    Image of damnelantra™ damnelantra™
    12/18/08

    @skitter: the damnelantra™ is kickin with no radio, and im am seriously considering axing the ac too. just need to make sure it wont mess up any of the other belts and non-sense


    and im another $4 a gallon summer away from ripping out the back seat

     Reply
    damnelantra™ was starred damnelantra™ was unstarred
    Image of something_unique_and_descriptive something_unique_and_descriptive
    12/18/08

    In reply to Ten New Cars Cheap Enough To Gift This Holiday
    I'd take the GEM or the Yaris, any of the others and you're likely to get throat punched.
     Reply
    something_unique_and_descriptive was starred something_unique_and_descriptive was unstarred
    Image of mzs mzs
    12/18/08

    In reply to Ten New Cars Cheap Enough To Gift This Holiday
    I would steer anyone away from eh Yaris. In hard braking the tail wants to break loose.
     Reply
    mzs was starred mzs was unstarred
    Image of smalleyxb122 smalleyxb122
    12/18/08

    @mzs: Sweet! Now you've got me thinking that a Yaris might be actully be fun.
     Reply
    smalleyxb122 was starred smalleyxb122 was unstarred
    Image of something_unique_and_descriptive something_unique_and_descriptive
    12/18/08

    @mzs: You say this as if that's a bad thing.
     Reply
    something_unique_and_descriptive was starred something_unique_and_descriptive was unstarred
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