GM’s Chairman: New models will be released sooner than planned

Posted: Aug 05, 2009
Filed under: GM, Industry News

General Motors Company’s Chairman Edward Whitacre, who has previously claimed he doesn’t know anything about cars, finally held a press conference ever since taking his new position. The former AT&T chairman and CEO said that GM will be introducing certain vehicles sooner than originally planned to fight for its market share.

“Our cash position is good,” Whitacre said. “We have some flexibility.”

GM, which emerged from bankruptcy on July 10, shed a lot of its debt and received $50 billion in federal aid. The automaker will now reallocate spending plans to stem market share losses to its rivals.

GM’s market share declined last month from 20.5 percent to 18.9 percent. It’s expected to lose more once it sells Saab, Hummer and Pontiac.

Cars we’d like to see GM release earlier than planned? Chevrolet Camaro Z28, Chevrolet Camaro Convertible and the Cadillac CTS-V Coupe.

- By: Omar Rana

Source: Detroit News

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  • gus the grouter
    Yes indeed! G8 = MASSIVE lost opportunity. Good on you Fritz. Bland leadership at its finest.

    How do non-car people work in car companies really?
  • dmiami
    Right on DadzBoyz, but now that U know that dips--t was chairman of AT$T, GM is as good as dead. Noone would use AT$T if it weren't for iphone. Their customer service sucks.
  • DadzBoyz
    Chevrolet Camaro Z28 - Low volume
    Chevrolet Camaro Convertible - Low volume
    Cadillac CTS-V Coupe - Whoa low volume!

    All nice cars but not market share cars. Great. They can win market share in the pony car and premium coupe segments. That's about like paddling up Sh*& Creek with a toothpick. They need paddles. BIG ONES! Volume cars with good marketing. Hello Maximum Bob. How ling does it take to film a commercial, send the networks the tape and call them on the phone to direct them to run the new one in place of the old.

    - Chevy Orlando
    - Chevy Cruze
    - Buick Regal (if Buick is to get anywhere remaking themselves that need a wholesale extreme makeover. Leave no old car to be sold with the new.
    - Chevy G8/Impal.... oh yeah. The government is running the company.

    So, yeah. Sounds like the niche cars will be accelerated. Can you say 4 cylinder hybrid Camaro. Visions of the PinStang come rushing back!
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