Okay so while most of you are probably shaking your head at GM after CEO Rick Wagoner’s cost-cutting plans that were revealed earlier this morning, vice chairman Bob Lutz had a special bloggers-only conference call in which he revealed some future product details.

First and foremost, doing the FoMoCo thing , GM will align its U.S. product portfolio to resemble its European and Asian - with more fuel-efficient vehicles. Moving on, let’s go down the list of the things that Lutz discussed.

First, Saturn is struggling. According to Lutz, the brand is not generating enough volume. He confirmed that the next-generation Aura has been put on hold for a few more years. Second, a production version of the Buick Invicta will be arriving next year. The next-generation Chevrolet Equinox and Cadillac SRX (based on the Cadillac Provoq concept ) will arrive by 2010. The upcoming Chevrolet Cruze , set to replace the Cobalt, will average a fuel-economy of more than 40mpg.

Lutz also said that there will be a new smaller crossover based Chevrolet Equinox for GMC that will be equipped with 4-cylinder engines. It will be most likely called the Terrian.

Source: TCC