I think the losses at Ford and GM are at their maximum right now. If I'm right, and it becomes clear the losses are shrinking, the stocks may act a little better. But I'm not convinced enough right now to buy them myself.
More Quotes from David Healy:
The bearishness is overdone. This is probably the part of the cycle where you'd do well owning auto stocks if you have some patience.David Healy
GM has to solve its problems (in the United States) before it can be profitable again. China is not going to bail out the company.
David Healy
Both Ford and G. M. are saddled with these legacy costs that they're negotiating with the union. Beyond that, there isn't much they can do but continue to attack their single largest cost purchased materials.
David Healy
This is really more a matter of Mark Fields wanting to get his own people in place.
David Healy
Padilla is a very able (executive), but he is also the old guard. Padilla is out because Ford wants his own people. That's my view.
David Healy
I think that's highly unlikely, ... I think they will probably negotiate an agreement with the union to reduce health care costs this year.
David Healy
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