A story from the Crain sisters, Automotive News
, reports that General Motors has cut product development spending for 2009 in an effort to save approximately $1.5 billion next year. Reductions in engineering, design and R&D work on future models has been rumored for the last week, possibly causing the delay (or death
) of a few select models
. However, the Camaro
haven't been affected by the cuts (no surprise, since they're all but complete), and the new Buick LaCrosse
, Chevrolet Traverse
and Cadillac CTS Wagon
should hit the market has planned, late next year and early in 2010.
After the story surfaced earlier today, the Detroit News
got in on the action and spoke with GM spokesman Tom Wilkinson who said of the AN
report, "We think they are probably overplaying this a little bit." We'll see.
, Detroit News