Stocks: (GM)(TM)(HMC)Someone put LSD into the drinking water at GM. The big car maker’s Buick unit announced that it believes that it can get up to 40% of its new customers for the Enclave crossover SUV from Acura and Lexus. Acura is owned by Honda and Lexus is part of Toyota.Toyota and Honda have owned GM in market share for several years now.Acura’s recent growth in the US market has be fueled by sales of its SUVs and crossovers.Of course, they plan to willingly give a large portion of this market to Buick.Lexus also showed sales gains in October. As part of the world’s most successful car company, the luxury brand is also likely to hand market share to Buick so that the GM unit can do better.Recent sales at Buick have not even kept pace with GM’s overall numbers. In October GM’s total unit sales rose almost 22%. Buick was up a little over 15%.There is something to be said for hoping to take shares from rivals who are doing better, but telling the press and the competition.Well.
Detroit Ostrich Farm: Hallucinations At Buick
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
Top Gaining Stocks
Top Losing Stocks