In a bout of serious belt tightening that has nothing to do with public relations, General Motors has decided to sell some of the less popular cars at the GM Heritage Center. In all, GM is expected to sell 252 collector cars at upcoming Barrett Jackson auctions in Scottsdale, AZ and Palm Beach, FL.
GM’s Heritage Collection is housed in a facility used for company functions, special events, and business meetings. The 1000 cars in the collection make appearances at car shows and other events around the globe. L.A. Times staff writer Martin Zimmerman wrote a good post providing background on the upcoming sale and the GM Heritage Collection.
An astute columnist recently called GM ‘a vast retirement home with a small money losing auto subsidiary’ because GM pays for the medical care of 1 million retirees and widows, despite having a current workforce of approximately 96,000. As a result of these obligations, GM loses money on each car it produces, while its non-unionized sunbelt foreign competitors make a modest profit.
Don’t worry, however, because the Congress will soon be helping GM manage their business, spend billions of your tax dollars, and build the hybrids that we have all been dying to drive to combat the skyrocketing price of gasoline, now at $1.59.
At any rate, GM is selling off 252 of the collector cars in its Heritage Collection. No doubt the presence of these museum exhibited American cars will be a strong draw to the Barrett Jackson auctions.
They are also 252 reminders that America once led the world in car making.
A list of the GM Heritage Cars hitting the block can be found here.
It’s likely classic car collectors buying antique automotive toys at Barrett Jackson will get a better return on investment that taxpayers forced to invest in an unprofitable car company. Perhaps some of the collector cars sold will end up in the hands of members of car sharing clubs.