Sal Collaziano
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Filed under: Economy, Hatchbacks, GM, Pontiac, Earnings/Financials
In news that will doubtlessly result in a chorus of "We told you so" forehead-slaps from critics who noted the arrival of the Pontiac G3 with disdain, word is that General Motors has a bumper crop of the Korean-built subcompacts sitting on its lots.
How many? According to The Wall Street Journal, nearly a two-year supply at current sales rates. In the course of doing some research, writer Neal Boudette discovered that GM has 3,479 unsold G3 units clogging up its dealers and vacant lots. Combined with the knowledge that dealers sold just 141 units of the car in March (or one unit for every 19 of GM's 2,700 Pontiac stores), that means that GM has a supply of these Chevrolet Aveo5 twins that will last them 617 days, meaning that if the automaker stopped building new units, they would still have a supply that would last them until December 16, 2010.
In all fairness, the G3 just came to market in February, and it often takes some time for a new model to take hold. It could well be that GM is planning a big marketing push for the car, but we've seen no evidence of this thus far, and in these cash-strapped days, it would appear that the General probably has bigger-margin fish to fry.
Gallery: 2009 Pontiac G3
[Source: The Wall Street Journal]REPORT: GM already has nearly two year supply of Pontiac G3 originally appeared on Autoblog on Tue, 14 Apr 2009 12:59:00 EST. Please see our terms for use of feeds.
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2009 Pontiac G3 - Click above for a high-res gallery
In news that will doubtlessly result in a chorus of "We told you so" forehead-slaps from critics who noted the arrival of the Pontiac G3 with disdain, word is that General Motors has a bumper crop of the Korean-built subcompacts sitting on its lots.
In all fairness, the G3 just came to market in February, and it often takes some time for a new model to take hold. It could well be that GM is planning a big marketing push for the car, but we've seen no evidence of this thus far, and in these cash-strapped days, it would appear that the General probably has bigger-margin fish to fry.
Gallery: 2009 Pontiac G3
[Source: The Wall Street Journal]REPORT: GM already has nearly two year supply of Pontiac G3 originally appeared on Autoblog on Tue, 14 Apr 2009 12:59:00 EST. Please see our terms for use of feeds.
Permalink | Email this | Comments
More...