Advertisement
Find a Car
Go!

GM, Ford Stocks Hit Lowest Levels in Decades

Follow Marty

Abandoned Chevy, by TBurton

Abandoned Chevy, by TBurton

Enlarge Photo
Ouch. With the Dow plunging ever further, more than 500 points yesterday, GM and Ford stock prices were brought to their knees. While all major indexes fell at least 5 percent in reaction to the Dow, the Detroit Free Press pointed out that GM shares lost 10.9 percent (92 cents) to close at $7.56 per share, their lowest since February 17, 1954. They also reported Ford shares plummeting 20.9 percent (77 cents) to close at $2.92, a number last seen November 12, 1985.

Detroit Free Press used information from the Center for Research in Security Prices (University of Chicago) to calculate the losses. The auto industry has been ravaged by recent economic troubles, with sales at their lowest point in 15 years.

In light of the spreading financial crisis and the $700 billion government bailout rescue package for Wall Street, will the recent $25 billion low-interest loan for domestic automakers be enough? Maybe Jalopnik wasn't being so silly when it published its list of "Top Ten Vehicles for The Coming Financiapocalypse."--Colin Mathews
 
Follow Us

 

Have an opinion?

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
Comments (6)
  1. "Ford shares plummeting 20.9% (77 cents) to close at $2.92, a number last seen November 12, 1985."
    So one share of Ford these days buys much less than ONE GALLON of Fuel?
    Good Job, Bill Ford, Mullaly and MArk Fields!
    NOT!!!!!!!!!!!!!!!!!!1
     
    Post Reply
    Vote
    Bad stuff?

  2. Hmmm, with the new Fiesta coming out, rumors of the Kuga and other cars coming over this may be a good time to by Ford stock.
     
    Post Reply
    Vote
    Bad stuff?

  3. Mexican Fiesta won't help but the 25 billion included in $700 billion bailout package will extend the life of the company until the next bailout. This thing is immortal.
     
    Post Reply
    Vote
    Bad stuff?

  4. Yes, the Fiesta looks good now (but will not hit the marktet for another 2 years or so. The Kuga is an insignificant cutrsie niche vehicle, but the Fiesta could be big. But so c could the Chevy CRUZE, not to mention the Volt as well. And the imports will not sit down and do nothing either.
    I know people that made $ off Ford in the 80s, with the Successful Taurus (1st gen, NOT 2ND, which was a POS lookign like a frog), but a few years later, and a few irresponsible decisions down the road (such as the purchases of JAG,m VOlvo, Aston, Land ROver etc) FOrd got sick again..
     
    Post Reply
    Vote
    Bad stuff?

  5. Actually shares of Ford or GM might be a good short term gamble, especially if rumors start to swirl about someone buying either causing shares to skyrocket. Someone start that rumor while I call my broker. ;)
     
    Post Reply
    Vote
    Bad stuff?

  6. As long as it does not actually go Broke, as in Ch XI.
    Like so many of the poor suppliers that Ford and GM sueezed them to extinction... such as Federal Mogul and so many others.
    Maybe Chrysler will be a better candidate for Bankruptcy or sale, they are by far the weaker of the big 3, with utterly unreliable, low-rent, and guzzler models.
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion? Join the conversation!

Advertisement
Advertisement
Take Us With You!
   
Advertisement

More From High Gear Media


 
 
© 2014 The Car Connection. All Rights Reserved. The Car Connection is published by High Gear Media. Stock photography by Homestar, LLC. Send us feedback.