That is a major part. The article also says, " while General Motors Corp. is having trouble selling cars, its ditech.com mortgage business is going great guns.
Even so, making money by financing cars makes GM resemble the banks that attracted business by giving away toasters -- even though the banks did not manufacture the toasters. Then again, more and more GM is assembling purchased parts. On Mon, Apr 11, 2005 at 06:32:55PM -0400, Doug Henwood wrote: > Michael Perelman wrote: > > >This data goes further, showing how manufacturing companies are also > >morphining into > >fiancial agents. The Ford/GM case is now well known, but it is > >becoming more common. > > According to the latest BEA profits release, the expert on call is: > > >Greg Key: (202) 606-9727 (Profits) > > I've never seen the BEA make any such distinction, but they may have > some obscure or unpublished data that does. > > When I last looked at Ford & GM, almost all their financing > activities were related to the purchase of the vehicles they > manufactured. > > Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
