@theindianguy: the warnings on legacy auto feel deserved, the balance sheet is taking hits from higher rates and bloated inventory. You nailed the real issue for me, most of them are still brands that assemble parts while the manufacturing muscle sits with those who run tight integrated plants at scale. When you layer on EV write downs, union bumps, and weak dealer traffic, cash flow gets starved fast :( As an accountant, I just see the margin math not adding up and the spreadsheet says hope is not a str;ategy :)