That's a lot of words to say "Cartel". Car...tel... get it?
I'm here all day, folks! 👍
Here’s a hint: the automakers are doing great. By essentially coordinating an industry-wide production cut, the pandemic gave manufacturers power to demand mind-boggling prices for fewer cars, leading to record profits. As consumers adjusted their expectations, executives saw an opportunity to establish a lucrative new normal. Low inventory is an “opportunity to drive strong margins”, GM’s CEO, Mary Barra, told shareholders in 2022. Ford’s CEO, Jim Farley, went even further, declaring: “I want to make it extremely clear to everyone: we are going to run our business with a lower day supply than we have had in the recent past because that’s good for our company.”
Also see: collusion... market manipulation... fauxflation.
Yet another point in the argument for a government corporation that makes basic shit and provides basic services across the board.
"But muh nationalization socialism! Next thing you know we'll all be in gulags!" - some trailer park right wing rube reading this right now.
That's a lot of words to say "Cartel". Car...tel... get it?
I'm here all day, folks! 👍
Also see: collusion... market manipulation... fauxflation.
Yet another point in the argument for a government corporation that makes basic shit and provides basic services across the board.
"But muh nationalization socialism! Next thing you know we'll all be in gulags!" - some trailer park right wing rube reading this right now.