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Detroit, 6:24 PM
Sat Dec 5
16 posts in the last 24 hours

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    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of Uncle Bo Uncle Bo
    04/14/09

    In reply to Mysterious Mitsubishi Coming To Paris
     Reply
    Uncle Bo was starred Uncle Bo was unstarred
    Image of Uncle Bo Uncle Bo
    04/14/09

    In reply to Mysterious Mitsubishi Coming To Paris
    img src="http://jalopnik.com/photogallery/americanaset2/1007905126"
     Reply
    Uncle Bo was starred Uncle Bo was unstarred
    Image of Uncle Bo Uncle Bo
    04/14/09

    In reply to Mysterious Mitsubishi Coming To Paris
     Reply
    Uncle Bo was starred Uncle Bo was unstarred
    Image of Uncle Bo Uncle Bo
    04/14/09

    In reply to Mysterious Mitsubishi Coming To Paris
     Reply
    Uncle Bo was starred Uncle Bo was unstarred
    Image of Uncle Bo Uncle Bo
    04/14/09

    In reply to Mysterious Mitsubishi Coming To Paris
    test
     Reply
    Uncle Bo was starred Uncle Bo was unstarred
    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
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