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Old 03-13-2008, 02:01 PM   #1
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Default Expensive gas worries GM purchasing chief

GRAND RAPIDS, Mich. -- Rising crude oil prices are hitting hard at General Motors and other North American automakers, says GM purchasing chief Bo Andersson.
Andersson was the keynote speaker today at the 10th Annual Automotive Suppliers Symposium here at Grand Valley State University.

High oil prices also add to GM's costs for shipping and delivering cars and parts, Andersson said. For every $1 increase in the price of a barrel of crude oil, GM spends an additional $6 million per year for logistics, he said.

GM's total logistics tab is $7.2 billion globally per year.
Crude oil has been skyrocketing in recent months. Today it hit $111 a barrel on the New York Mercantile Exchange.
Andersson said a gasoline price of $3.30 per gallon seems to be the current tipping point that dampens U.S. vehicle sales. He said that when gasoline reaches that price, consumers reassess big-ticket purchases.

That harms not only pickup and SUV sales but small cars as well, Andersson said.

The nation needs leadership in government and all economic sectors to deal with the rising costs of energy, Andersson said. He said GM and other automakers are doing their part by offering alternative-fuel vehicles and seeking out better fuel
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Old 03-13-2008, 02:03 PM   #2
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Old 03-13-2008, 03:49 PM   #3
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Originally Posted by dmross View Post
I was about to post the same thing when I read the title
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Old 03-13-2008, 08:14 PM   #4
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how in the heck is this funny...

loser??? because the ship products.... WTH?
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Old 03-13-2008, 08:29 PM   #5
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It doesn't matter how much gas is, there will always be a market for a good pickup truck. For some reason people (around here anyway) are buying Fords like crazy. Anything with commerical plates is a Ford, but I do see some Dodge trucks more and more.
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Old 03-13-2008, 09:35 PM   #6
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Originally Posted by 2000wrx View Post
how in the heck is this funny...

loser??? because the ship products.... WTH?
Exactly. Everyone ships things--making EVERYTHING more expensive.
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Old 03-13-2008, 03:26 PM   #7
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Old 03-13-2008, 09:39 PM   #8
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$7.2 Billion and it goes up by $6 Million, is that even a %1 increase in operating costs?
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Old 03-13-2008, 11:19 PM   #9
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$6Million for every +$1 for a barrel of crude... So if it goes up like it has been that could mean alot of money. Wasn't it ~$80 6 months ago and now is ~$110, works out to $180M / year
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