GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

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Thread: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

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    News Contributor Premium Member Perian's Avatar
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    GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Link: http://www.businessweek.com/autos/au...ll_street.html

    Business Week: Posted by: David Welch on June 28, 2010

    General Motors realizes it has a nagging little marketing problem as it prepares for an initial public stock offering. The analysts, portfolio managers and potential investors that they are hoping will like their stock aren’t big customers of the company’s cars. So GM is mulling over a plan to open up a GM salon in Manhattan, say three people who know about the discussions. The company would rent or buy a building, outfit it with imagery for its four brands and showcase the latest cars.

    The idea is to get GM’s best models in a place where high-fashion New Yorkers, tourists and high-rolling investors might walk by. GM does poorly in the New York metro area. GM’s market share in the New York area was just 9.6% in the first quarter, compared with 18.7% in the U.S. GM’s share in the New York area was 10% last year, down from 13% in 2008, according to Experian Automotive, which tracks vehicle registrations.

    GM thinks that the salon would show investors and car buyers that the company’s newest models are competitive. Audi has a similar display called the Audi Forum at the corner of 47th Street and Park Avenue. Audi keeps five cars on hand, including a vintage Le Mans series race car. Audi has events at the Forum. They even kept it open so Audiphiles could watch the entire 24 Hours at Le Mans race last year.

    For GM, this does create a bit of a dilemma. GM wants to get in front of the hip and the well-heeled. But is this the right way to do it? The Forum works for Audi because it’s a house for just one brand. There is nary a Volkswagen in sight. GM would have four brands together at a time when the company is trying to give Buick, Cadillac, Chevrolet and GMC some individuality.

    Full article at link.

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    News Contributor Premium Member Perian's Avatar
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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    A 9.6% market share in one of the largest markets in the United States? Just incredible.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Wow...they must read GMI.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    I don't think Toronto is much better in terms of market share and they just closed so many good long time dealers, I think it will make it worse. If your local dealer closes and the next closest one is an extra 10-15 minutes away, you start thinking about a change.

    I think GM closed too many dealers.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    As long as leasing is not back, it will be impossible to compete, especially in the luxury end of the market. In my area, Montreal, I see a lot of BMW's, Mercedes and Audi's driven by mid 30's customers. At least 55% are leased vehicles as most of these owners could not afford to finance the entire value of the vehicle.
    Same thing is going on with Toyota and to a lesser extent Honda. Near 50% of their sales are leasing.
    In retrospect, the biggest mistake Wagoner did is selling GMAC to avoid the unavoidable. The price of a car is sometime the equivalent of a small house; financing is an integral part of the sale process.
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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    You can lease Cadillacs now.

    So, should this be "flagship" dealership that inspires architecture at dealerships in your hometown...or should this be purely a branding strategy, with different flagships in different neighborhoods depending on the brand?

    Buick has a fighting chance. I'm very impressed.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    So GM is mulling over a plan to open up a GM salon in Manhattan, say three people who know about the discussions. The company would rent or buy a building, outfit it with imagery for its four brands and showcase the latest cars.


    Gee, maybe GM should repurchase the General Motors Building or at least the first floor show room on Central Park south. That is why they had it there in the first place.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    On the bright side, that 9.6% likely represents a lot of midsize SUV so at least GM has a decent foothold in one part of the market.

    The problem here is that GM car ownership is pretty much "frowned on".

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Wow GM should consult Sigma for advice. They need a major urban marketing push ASAP.

    The problem here is that GM car ownership is pretty much "frowned on". What njtex said here is the truth, which is quite unfortunate. People in NY/NJ/Conn will buy Traverses and Equinox's but will not dare put their backsides in Malibu's Cobalts or Impalas.
    Last edited by Evo69; 06-29-2010 at 08:53 AM.
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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Build it, and put in a CTS-V, Regal, Camaro, and Acadia or Terrain if it's a small shop much like the Audi one. All brands would be represented, and put in a '65 Riviera as a heritage touch...
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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    i can see caddilac, buick, GMC, but not chevy. chevy only if they start producing some real city cars, compacts that are credible and desirable. this would be a good idea but GM is just not a premium brand. people who live in manhatten with cars are typically people that are wealthy and drive a benz, lexus, bmw or jaguar that can afford that cost of a garage. or a person that doesnt care what they drive and parks it on the street and does not cry over dings and scratches.

    what GM does need to do is create a better dealer system. everything i get parts for my grandfathers VW Jetta i am greeted by a friendlier service center and wants to help me and seems well informed. i walk into my chevy dealer and its like i am teaching or telling them what i need and they are denying the part exists till i bring in the part number

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Quote Originally Posted by Perian View Post
    A 9.6% market share in one of the largest markets in the United States? Just incredible.
    At least I can say I contributed to the 9.6% share.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    GM needs a "flagship" sedan to display. How is it that Hyundai is about to sell a Benz counterpart with the new Equus http://www.jdpower.com/autos/car-pho...dai/Equus/2011 and Cadillac can't produce anything like this ? The CTS, Silverado/Sierra, and Corvette are the only cars that GM produces in which styling matches the competition. All others are lacking in some area... like a rear three quarter view.

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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Quote Originally Posted by carbarrister View Post
    Gee, maybe GM should repurchase the General Motors Building or at least the first floor show room on Central Park south. That is why they had it there in the first place.
    Why'd they ever give it up, is a better question. They can't get it back; CBS broadcasts the early show from the former showroom.

    And the building is on 5th Ave, not Central Park South, but you're only off by half a block or so. Apple set up shop in the pavillion space and the sidewalks are absolutely packed with people from all over the world. Of course, not a lot of New Yorkers, so maybe they should open up somewhere else.
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    Re: GM Mulls Flagship New York Showroom As NY Market Share Falls Below 10%

    Your right why did they ever give up the GM building or at least it's show room? I believe that FAO Schwartz is in it now, but that had to be one of the best walk by show rooms in the world.

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