Whitacre: General Motors will roll out new models early
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Whitacre: General Motors will roll out new models early
Any speculation here? New Impala maybe or Cruze?
http://www.detnews.com/article/20090...08050395/1148/
http://www.detnews.com/article/20090...08050395/1148/
General Motors Co. will introduce certain vehicles sooner than originally planned to fight market share erosion, the company's new chairman said today.
Without being specific, Chairman Ed Whitacre said GM's Board of Directors has moved up some vehicle introductions to counter losses in market share -- a top priority for the former AT&T Inc. chairman and CEO.
GM, which emerged from federal bankruptcy court July 10 after shedding debts and receiving $50 billion in federal aid, might reallocate spending plans to stem market share losses.
"Our cash position is good," Whitacre said. "We have some flexibility."
GM's share of the market declined last month from 20.5 percent to 18.9 percent -- down from more than 50 percent decades ago.
Its market share is expected to shrink because GM is selling or phasing out the Saturn, Saab, Hummer and Pontiac brands as part of its restructuring.
Whitacre spoke in a wide-ranging interview with reporters a day after the board concluded its first meeting since GM emerged from bankruptcy. He spoke about his relationship with United Auto Workers President Ron Gettelfinger and whether GM's corporate culture needs to change.
"The people I've encountered certainly are capable and enthusiastic. I don't know that the culture really needs to be changed," he said.
Whitacre said he recently met with Gettelfinger.
"I think relations are going to be quite good going forward. That is certainly my hope," Whitacre said. "We're all in this together."
Whitacre heads a largely revamped 13-member board, more than half of its members newly appointed, including four selected by its majority stakeholder, the U.S. government. The government holds 60.8 percent of GM, while the Canadian government holds 11.7 percent and a United Auto Workers health care trust owns 17.5 percent. Unsecured creditors own 10 percent.
The board, which will meet monthly and by phone as needed, drove some of GM's new products at the Milford Proving Grounds on Tuesday.
The board unanimously supports President and CEO Fritz Henderson, Whitacre said.
"He certainly has our blessings and encouragement," he said. "He has everything he needs to do his job and knows what the board expects of him."
Without being specific, Chairman Ed Whitacre said GM's Board of Directors has moved up some vehicle introductions to counter losses in market share -- a top priority for the former AT&T Inc. chairman and CEO.
GM, which emerged from federal bankruptcy court July 10 after shedding debts and receiving $50 billion in federal aid, might reallocate spending plans to stem market share losses.
"Our cash position is good," Whitacre said. "We have some flexibility."
GM's share of the market declined last month from 20.5 percent to 18.9 percent -- down from more than 50 percent decades ago.
Its market share is expected to shrink because GM is selling or phasing out the Saturn, Saab, Hummer and Pontiac brands as part of its restructuring.
Whitacre spoke in a wide-ranging interview with reporters a day after the board concluded its first meeting since GM emerged from bankruptcy. He spoke about his relationship with United Auto Workers President Ron Gettelfinger and whether GM's corporate culture needs to change.
"The people I've encountered certainly are capable and enthusiastic. I don't know that the culture really needs to be changed," he said.
Whitacre said he recently met with Gettelfinger.
"I think relations are going to be quite good going forward. That is certainly my hope," Whitacre said. "We're all in this together."
Whitacre heads a largely revamped 13-member board, more than half of its members newly appointed, including four selected by its majority stakeholder, the U.S. government. The government holds 60.8 percent of GM, while the Canadian government holds 11.7 percent and a United Auto Workers health care trust owns 17.5 percent. Unsecured creditors own 10 percent.
The board, which will meet monthly and by phone as needed, drove some of GM's new products at the Milford Proving Grounds on Tuesday.
The board unanimously supports President and CEO Fritz Henderson, Whitacre said.
"He certainly has our blessings and encouragement," he said. "He has everything he needs to do his job and knows what the board expects of him."
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I would hope it's the Cruze. Given that they are already being produced overseas, I guess the big issue is getting the Lordstown plant retooled. So long as they have enough retail inventory of the Cobalt, I don't see any reason not to start the process asap.
I suspect there will be a big dropoff in Cobalt sales once the Cash for Clunkers thing runs its course. As there will be with many small cars.
I suspect there will be a big dropoff in Cobalt sales once the Cash for Clunkers thing runs its course. As there will be with many small cars.
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However, being first to market with a plug-in hybrid will be good for GM's image, and that could have a measurable impact on market share.
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Yup, and if they are smart they will get to market before the new Focus and Civic. Too bad Chevy keeps changing the name of their small cars. No one knows what a Cruze is. They could have saved 10's of millions in marketing and probably sold a lot more cars if they just stuck with the Cobalt name.
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stick with cobalt name [it's not too late to reverse that decision] and ready the new engines quicker. the hold up is the 1.4 DI turbo...I believe. I hope this will be the standard engine. a 2.4 DI would be make for a strongly efficient almost midsize upscale high quality and sporty sedan. cruze, wait i forgot, cobalt, has a lot of potential. it's too bad they've already put a lot of effort into the cruze name...but it's not too late!