Let Them Go Bankrupt!

It’s official, Government General Motors is once again the world's largest automaker, topping the global sales charts in 2011 with sales in 2012 projected to increase by another million

General Motors surpassed Toyota and Volkswagen to reclaim the crown of world’s largest automaker with global sales of 9.03 million vehicles in 2011.

That was 11% higher than Volkswagen, which last week reported 2011 global sales of 8.16 million. Toyota has not yet reported its final 2011 sales, but last month the Japanese automaker estimated it sold 7.9 million vehicles globally last year. [...]

GM’s 2011 sales rose 7.6% from [2010]. Sales in the U.S. led the way for Chevrolet with total vehicle sales of 1,775,812, up more than 13%. China posted record sales of 595,068, up 9.5% from the previous year. Other markets that posted significant year-over-year increases include Vietnam (79%), Russia (49%), Turkey (30%) and Germany (21%).

Of course Mitt Romney's solution for the American auto-industry was to let them go bankrupt.

IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

Good job, Mitt.