Just yesterday we got a taste of how bad things are really getting for GM. Cash is so tight that the company is not only delaying production model world premieres but is even scrutinizing over electricity and utility bills.

As times get worse, GM is doing all it can from laying off salaried workers, selling brands and closing plants. Latest reports from sources say that the much anticipated 2011 Chevrolet Cruze, which was supposed to be GM’s major opportunity to lure in fuel-efficient conscious customers, will be delayed almost a year.

The 2011 Chevrolet Cruze was originally set to arrive in April of 2010 as a replacement to the Cobalt. Sources now say it has been pushed back to 2011. The next-generation Chevrolet Malibu is also said to be delayed by at least six months – until 2013.

GM spokesman Dee Allen confirmed product delays and said that some new-car programs “are going to shift around a bit.” Yesterday we heard that GM will no longer be unveiling the production versions of the 2010 Cadillac CTS Coupe or the new Buick LaCrosse at next month’s 2008 LA Auto Show.

2011 Chevrolet Cruze:

Source: BusinessWeek