Autoblog

Could Mary Barra be GM's first female CEO?

Zach Bowman — Tue, 01 May 2012 13:29:00 EST

Filed under: Hirings/Firings/Layoffs, GM

General Motors CEO Dan Akerson has been quoted as saying Mary Barra is on the list of his potential successors. Akerson has been adamant about the fact that the next head honcho for General Motors should come from within the automaker's ranks. Reuters reports the executive believes it is crucial for GM to increase the number of female top executives in the company, and he believes that women handle change better than men.

Barra, 50, currently serves as GM's global product development chief, commanding a $15 billion operation. She first joined GM in 1980 and has served in a variety of capacities since then, including vice president in charge of global human resources. Even with his comments on Barra, Akerson stressed that at the end of the day, it's the GM board's job to pick his successor.

And what of the U.S. Treasury? Technically, the government owns a little more than a quarter of GM stock, but Akerson said the decision remains entirely in the hands of the company's decision makers. Other candidates for the position are said to include Mark Reuss, GM's North American operations boss and Steve Girsky, vice chairman.

Could Mary Barra be GM's first female CEO? originally appeared on Autoblog on Tue, 01 May 2012 13:29:00 EST. Please see our terms for use of feeds.

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GM's Akerson thinks successor should come from within; "won't back off" criticism of Lincoln

Jeremy Korzeniewski — Thu, 26 Apr 2012 09:28:00 EST

Filed under: Hirings/Firings/Layoffs, GM, Lincoln

There has been a lot of discussion from industry analysts about who will replace Ford CEO Alan Mulally, but he's not the only CEO of a major American automaker that will eventually need a successor.

Dan Akerson, CEO of General Motors since shortly after its emergence from bankruptcy in 2009, told Automotive News in an interview that he hopes his successor comes from within the automaker's ranks, as opposed to bringing in an outsider. Candidates are said to include GM Vice Chairman Steve Girsky, North American head Mark Reuss and global product leader Mary Barra.

Interestingly, Akerson himself was imported from a private equity firm called The Carlyle Group, and he has indeed had to learn how the auto industry operates, as he told AN:

"This is the funniest industry. Most industries people are straight up with it. Here everybody slaps everybody on the back, you just got to make sure they don't have a knife with it."

Despite this acknowledgement, Akerson is still not one to pull punches. GM's CEO famously said of Ford's luxury brand, "They are trying like hell to resurrect Lincoln. Well, I might as well tell you, you might as well sprinkle holy water. It's over." And he's not backing down. "A little bit of holy water wouldn't hurt, I won't back off that."

If a rumored billion-dollar investment and a slew of heavily updated models is equivalent to "holy water," we'd say Ford must agree with Akerson's assessment.

GM's Akerson thinks successor should come from within; "won't back off" criticism of Lincoln originally appeared on Autoblog on Thu, 26 Apr 2012 09:28:00 EST. Please see our terms for use of feeds.

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Introducing Dan Akerson, the next Chairman and CEO of General Motors

Steven J. Ewing — Thu, 12 Aug 2010 13:58:00 EST

Filed under: Etc., Hirings/Firings/Layoffs, GM

Another round of CEO Musical Chairs is being played at General Motors.

When Daniel F. Akerson officially begins his tenure as GM's chief executive officer on September 1st, he will be the fourth person to sit in that chair in less than two years. Rick Wagoner stepped down from the position at the request of the United States government and was replaced by Fritz Henderson, who then resigned in December of 2009. Ed Whitacre took the reigns in early 2010, and now Akerson will replace him as both CEO and chairman of the board by year's end.

But who is Dan Akerson? After all, most of us had never heard his name before this big announcement, and he must be awfully qualified if he's been offered the top-ranking position at one of the world's largest automakers.

Akerson, 61, has been a member of GM's board of directors since July of 2009 where he worked closely with Whitacre. In addition, he currently serves as managing director for the Carlyle Group, a United States buyout firm, and is one of the directors at American Express.

GM picked a successor for Whitacre who has had plenty of experience with business management. Akerson is the former CEO of Nextel Communications, a wireless carrier now owned by Sprint, as well as a former CEO of telecom services provider XO Communications.

He was also appointed to GM's board of directors after the company emerged from bankruptcy reorganization last year. He may not be much of a car guy by our definition, but in terms of someone capable of running a major corporation, both Whitacre and the rest of the GM board of directors are confident that Akerson will use his years of experience to continue to reshape GM during this crucial time of restructuring. Godspeed, Dan.

[Source: General Motors, The Wall Street Journal]

Continue reading Introducing Dan Akerson, the next Chairman and CEO of General Motors

Introducing Dan Akerson, the next Chairman and CEO of General Motors originally appeared on Autoblog on Thu, 12 Aug 2010 13:58:00 EST. Please see our terms for use of feeds.

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GM CEO Swap: Dan Akerson to replace Ed Whitacre on Sept. 1

Steven J. Ewing — Thu, 12 Aug 2010 11:11:00 EST

Filed under: Hirings/Firings/Layoffs, GM

During a conference call to discuss General Motors' second quarter earnings, Ed Whitacre announced that he will be stepping down from the position of CEO effective September 1st, and that his title of Chairman of the Board will terminate at the end of 2010.

Whitacre will be replaced by Dan Akerson (right), 61, who currently serves on the GM board of directors and holds the position of managing director for the Carlyle Group. No, he isn't a car guy, but then again, neither was Whitacre. "There are remarkable opportunities ahead for the new GM, and I am honored to lead the company through this next chapter," said Akerson.

Hit the jump for the full details in GM's press release.

[Source: General Motors]

Continue reading GM CEO Swap: Dan Akerson to replace Ed Whitacre on Sept. 1

GM CEO Swap: Dan Akerson to replace Ed Whitacre on Sept. 1 originally appeared on Autoblog on Thu, 12 Aug 2010 11:11:00 EST. Please see our terms for use of feeds.

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GM reportedly pondering new small truck, return to minivans

Sam Abuelsamid — Fri, 06 Aug 2010 09:29:00 EST

Filed under: Minivan/Van, Truck, Chevrolet, GM, GMC, Opel

Chevrolet mid-size pickup patent drawing - Click above for high-res image gallery

General Motors CEO Ed Whitacre was apparently quite chatty during his visit to the Management Briefing Seminar in Traverse City, MI this week. In addition to his comments about possibly selling all of GM's stock during the upcoming IPO, he also revealed that the product planning staff under Stephen Carlisle is looking at getting back into market segments the company has or will soon abandon.

After 20 years of unsuccessfully trying to get traction in the minivan market, BusinessWeek reports that GM is considering trying again with stretched version of the European Opel Zafira. Oddly, this comes not long after the automaker decided not to offer the forthcoming similarly sized Chevrolet Orlando in the U.S. market. GM is also apparently revisiting the mid-sized pickup truck. A replacement for the Chevy Colorado/GMC Canyon twins is under development for overseas markets, but it's not currently planned for sale here.

Freed of much of its debt, GM appears to now be at liberty to look at the entire vehicle market for new opportunities - particularly at the low end for Chevrolet, where it has always had a hard time making profitable products.

Gallery: Chevrolet mid-size pickup patent drawings

[Source: Bloomberg]

GM reportedly pondering new small truck, return to minivans originally appeared on Autoblog on Fri, 06 Aug 2010 09:29:00 EST. Please see our terms for use of feeds.

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REPORT: GM wants next CEO to come from within, Whitacre out in 2-3 years

Jonny Lieberman — Mon, 01 Feb 2010 13:28:00 EST

Filed under: Hirings/Firings/Layoffs, GM

The more things change, the more... you know what we're trying to say. Just last week, longtime AT&T guru and then interim General Motors CEO Ed Whitacre was able to ditch that pesky 'interim' modifier and became the king of the hill at GM. Of course, that was last week. This week we're getting reports that Ed Whitacre (who, curiously enough, was the president of the Boy Scouts of America from 1998-2000) will be out of the RenCen in two to three years.

Why? Well, Whitacre was born in 1941, so he'll be into his seventies by then and ready to move to his cattle ranch in Montana (or wherever it is multi-millionaire alpha males go to retire). Also, the General Motors board only named him the permanent CEO when a search for someone to step in and take the job from Whitacre came up fruitless. The search yielded no one qualified that was willing to work for the pay restrictions put in place by Uncle Sam as a result of GM's Chapter 11 bailout.

Also, and you need to read between the lines for this one, Detroit for the most part dislikes and distrusts outsiders. Hence the fact that they are looking internally for a Whitacre replacement. Strange when you consider how much wood former Boeing-man and total Detroit outsider Alan Mulally's been chopping over at surging Ford. Still, "Whitacre and the board want the winning candidate to emerge from a new corporate culture based on decision-making and accountability." Well, if that's all it takes...

[Source: Automotive News - Sub. Req. | Image Source: Bill Pugliano/Getty Images]

REPORT: GM wants next CEO to come from within, Whitacre out in 2-3 years originally appeared on Autoblog on Mon, 01 Feb 2010 13:28:00 EST. Please see our terms for use of feeds.

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Autoblog Podcast #163 - Paukert Re-Redux

Dan Roth — Tue, 26 Jan 2010 17:15:00 EST

Filed under: Podcasts, Hybrid, Government/Legal, Plants/Manufacturing, Audi, BMW, Ford, GM, Mercedes-Benz, Nissan, Saab, Toyota, Spyker, Rumormill

Click above for the Autoblog Podcast in iTunes, RSS or listen now!

Episode #163 of the Autoblog Podcast is here and Chris Paukert once again adds his insight as he's fast becoming the fourth regular member of the crew. First up we peek into the Autoblog Garage, occupied this week by a Nissan Versa, Audi S4, and a Mercedes-Benz S400 Hybrid. Topics follow, with our first drive of the 2011 BMW 5 Series starting us off before we move on to Ed Whitacre's new status as official General Motors CEO and get all misty about the uncertain fortunes of Saab (glad that's been cleared up.) Toyota's most recent recall for its throttle issue, the 2011 BMW 335is, and rumors of a 50th anniversary edition Ford Mustang with independent rear suspension finish us off before we take some questions and call it a night.

Until next week, hit up Joystiq and Engadget - there's going to be big Apple Tablet news soon! Let us know what you think of our podcast by dropping us an email at Podcast at Autoblog dot com, reviewing the show in iTunes, filling out our survey, or even leaving us a voicemail on our Google Voice line 734-288-8POD (734-288-8763). Thanks for listening!

Continue reading Autoblog Podcast #163 - Paukert Re-Redux

Autoblog Podcast #163 - Paukert Re-Redux originally appeared on Autoblog on Tue, 26 Jan 2010 17:15:00 EST. Please see our terms for use of feeds.

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BREAKING: Ed Whitacre named permanent CEO at GM, no Saab deal yet

Chris Paukert — Mon, 25 Jan 2010 11:45:00 EST

Filed under: Hirings/Firings/Layoffs, GM, Earnings/Financials

While early rumors suggested that this morning's surprise news conference at General Motors' Renaissance Center might be to confirm the sale of Saab to Spyker, the big news emanating from the company's Detroit headquarters is that Ed Whitacre Jr. is scrubbing 'interim' from his door plaque and instead taking the title of permanent CEO.

The 68 year-old Whitacre has been on the job since December 1, bringing his experience as a past CEO of AT&T to bear on the troubled automaker following the ~~removal~~ "stepping down" of GM's CEO Fritz Henderson. Since he's taken the reins, Whitacre has made bold timetable pronouncements about the company's ability to begin repaying government loans following GM's bankruptcy, he's hired a new chief financial officer, consolidated the company's North American sales and marketing channels, and fired several brand managers.

During the press conference, Whitacre also updated the assembled media on other aspects of The General's business, including the Saab situation (still in talks with Spyker, no deal yet) as well as plans to pay back the U.S. and Canadian government loans by June. When asked, Whitacre admitted that while he plans to spend more time in Detroit, he does not plan to move out of his home in Texas.

Official GM press release available after the jump.

[Image: Bill Pugliano/Getty]

Continue reading BREAKING: Ed Whitacre named permanent CEO at GM, no Saab deal yet

BREAKING: Ed Whitacre named permanent CEO at GM, no Saab deal yet originally appeared on Autoblog on Mon, 25 Jan 2010 11:45:00 EST. Please see our terms for use of feeds.

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REPORT: Spencer Stuart tasked with finding new GM CEO

Jonathon Ramsey — Tue, 08 Dec 2009 16:20:00 EST

Filed under: Hirings/Firings/Layoffs, GM

Headhunting firm Spencer Stuart is without doubt on the speed-dial lists of bailed-out firms, having placed chairmen, CEOs, Chrysler Group LLC, and board members for AIG, Citigroup Inc., Freddie Mac, Fannie Mae, and GMAC. Then they flew over General Motors so that Ed Whitacre, Jr. could heli-drop in. Now, The Wall Street Journal is reporting that GM has chosen Spencer Stuart to assist it in locating a permanent CEO to take up the position from Whitacre.

GM's list of requirements makes it clear they're looking for someone bionic, having "extensive global, manufacturing and turnaround experience." The new person should also have solid credentials working with Asia, since GM believes it will move more metal over there than in the U.S. next year, and the prospective bigwig doesn't need to come from within the auto industry'sranks.

No national preference has been put forth for the new CEO, only that he or she be "global minded." Perhaps the most important proven attribute they can bring: the ability to restore morale. It's an impressive list, but that's frankly the kind of CEO we would expect GM to require anyway, regardless of its economic and market position. And it does kind of make us wonder if Alan Mulally could simultaneously run two carmakers...

[Source: The Wall Street Journal]

REPORT: Spencer Stuart tasked with finding new GM CEO originally appeared on Autoblog on Tue, 08 Dec 2009 16:20:00 EST. Please see our terms for use of feeds.

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BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed]

Chris Paukert — Fri, 04 Dec 2009 10:00:00 EST

Filed under: Hirings/Firings/Layoffs, GM, Earnings/Financials

Having just been appointed interim CEO at General Motors earlier this week, ex-AT&T man Ed Whitacre isn't wasting any time in exercising his newfound authority. According to The Wall Street Journal, Whitacre is to announce a number of management changes this morning, including moving Vice Chairman Bob Lutz from his role in marketing to a more product planning-focused role. Whitacre is also expected to promote some of the company's younger managers to new positions, although it has not yet been revealed who is targeted.

According to the WSJ, Whitacre "drew up the new management blueprint in a matter of four hours," suggesting to us that he already had a number of changes in mind. Further, he is also expected to combine GM's sales and marketing divisions

While Whitacre has only been on the job since Tuesday and he is technically only considered an interim appointment at this time, the search for a new CEO is thought likely to take months, if not a year. From the looks of things, Whitacre isn't looking at himself as simply a placeholder, though, and we wouldn't be surprised to see more changes as the weeks and months roll by.

*UPDATE: Changes confirmed: GM has issued a press release (viewable after the jump). Among the moves, Bob Lutz will be an 'advisor' on design and global product - he will retain his title of vice chairman. Other changes include Mark Reuss named as president of GM North America, Susan Docherty appointed VP, vehicle sales, service, and marketing operations. For a full list of changes, click past the jump for the release.

[Source: The Wall Street Journal I Image: Bill Pugliano/Getty]

Continue reading BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed]

BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed] originally appeared on Autoblog on Fri, 04 Dec 2009 10:00:00 EST. Please see our terms for use of feeds.

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BREAKING: GM CEO Fritz Henderson steps down

Jeremy Korzeniewski — Tue, 01 Dec 2009 16:45:00 EST

Filed under: Hirings/Firings/Layoffs, GM

Well, that was quick. Fritz Henderson, the recently appointed CEO of General Motors, is stepping down. Company chairman of the board Ed Whitacre (remember the "Satisfaction Guaranteed" commercials, that's the guy) is set to act as the interim CEO until a permanent replacement is found.

This marks the second CEO that beleaguered automaker General Motors has lost this year, the first being Rick Wagoner, who was asked to resign by the Obama Administration's Task Force for Autos. Over the last few months, deals that GM had made to offload Opel, Saturn and Saab have all fallen through, and some have reported on clashing styles between Whitacre and Henderson.

General Motors has just confirmed the news via a press conference being held as we speak. Stay tuned for more as we learn it.

UPDATE: Official Statement from Ed Whitacre, GM's new interim CEO, added after the jump.

[Source: Free Press, GM | Image: Philippe Lopez/Getty]

Continue reading BREAKING: GM CEO Fritz Henderson steps down

BREAKING: GM CEO Fritz Henderson steps down originally appeared on Autoblog on Tue, 01 Dec 2009 16:45:00 EST. Please see our terms for use of feeds.

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Fritz Henderson to Autoblog: Chevy Caprice is being looked at as "police application"

Sam Abuelsamid — Wed, 15 Jul 2009 09:28:00 EST

Filed under: Sedan, Chevrolet, Pontiac, Police/Emergency

Ever since General Motors announced this spring that it was killing the Pontiac brand as part of its restructuring, fans of the Holden-developed G8 sedan have been clamoring to save it as a Chevrolet. After company officials repeatedly said over the past two months that no such thing would happen, Bob Lutz re-lit the fire last week in one of his first pronouncements after un-retiring. Lutz proclaimed that the G8 would indeed become a new Chevrolet Caprice.

During our first drive of the new Buick LaCrosse this week, we had the opportunity on one of the legs to ride with GM CEO Fritz Henderson, and we pressed him for more details on the Caprice plan. Unfortunately it turns out Henderson brought his portable fire extinguisher with him, telling us:

We've been looking at it for police applications. As for whether or not it's broader than police applications, I am not a believer in re-branding and re-badging. We've been talking about in terms of potential police applications and we'll leave it at that."

Henderson also threw a soaking wet blanket on the idea of adding production to Oshawa alongside the Camaro, saying that the cars will continue to be sourced from Australia. So, for the moment, it looks like Zeta sedan fans will probably have to be content with taking a Blues Brothers approach to the problem: Buying their next car as a decommissioned black-and-white.

[Image: GoAuto]

Fritz Henderson to Autoblog: Chevy Caprice is being looked at as "police application" originally appeared on Autoblog on Wed, 15 Jul 2009 09:28:00 EST. Please see our terms for use of feeds.

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REPORT: Wagoner gets $8.2M severance + $74,030 annually w/benefits... for life

Chris Shunk — Wed, 15 Jul 2009 08:34:00 EST

Filed under: GM, Earnings/Financials

When Rick Wagoner was forced out of his position as the CEO of General Motors last March, he left with a severance plan that included $22 million paid out over the course of a few years, plus a yearly pension. Just a few months later, The Los Angeles Times is reporting that Mr. Wagoner has worked out a deal with his ex-employer that will "only" pay out $8.2 million, plus $74,030 per year for life, along with health and life insurance plans. Wagoner's retirement becomes official on August 1, at which time he can begin reaping the benefits of his golden parachute.

Wagoner's severance, while greatly reduced, is still worth more money than most Americans will earn in their lifetime, and it will doubtlessly prompt some to once again question big payouts to ex-executives at federally bailed out companies. We wonder if now is a bad time to hit up Wagoner for a low interest loan to help us get into a new Camaro...

[Source: The Los Angeles Times | Image: Bill Pugliano/Getty]

REPORT: Wagoner gets $8.2M severance + $74,030 annually w/benefits... for life originally appeared on Autoblog on Wed, 15 Jul 2009 08:34:00 EST. Please see our terms for use of feeds.

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GM CEO ranks #2 on Letterman's list of Top Ten Worst Summer Jobs

Chris Shunk — Wed, 10 Jun 2009 18:29:00 EST

Filed under: Chrysler, GM, Celebrities, Humor

There's no question that there have been better summers to be the chief executive officer of General Motors. Bankruptcy hearings, plant closings, job cuts and a near certain pay cut will no doubt put a damper on Fritz Henderson's backyard barbecues. The CEO job is so undesirable that it cracked Late Show host David Letterman's Top 10 Worst Summer Jobs list this week. In fact, GM CEO was deemed worse than being the Octomom's babysitter, Susan Boyle's groomer, or even Dick Cheney hunting partner. Ouch. At least it beat out George Bush memoir proof reader.

[Source: CBS Late Show]

GM CEO ranks #2 on Letterman's list of Top Ten Worst Summer Jobs originally appeared on Autoblog on Wed, 10 Jun 2009 18:29:00 EST. Please see our terms for use of feeds.

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Would Ghosn be the best choice to lead GM?

Jeremy Korzeniewski — Wed, 10 Dec 2008 09:31:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, GM, Nissan, Renault, Fiat

Calls for the replacement of Rick Wagoner at General Motors raise an intriguing question: who would be the best choice to take the reigns of America's largest automaker if Wagoner were ousted? Some would point directly to GM COO Fritz Henderson, but we're not so sure that Washington would go along with that idea. A slightly more palatable choice may be found in Nissan/Renault head-honcho Carlos Ghosn, who has managed to right the sinking ship that was Nissan in the early 2000s after taking the helm in 1999. Seems like a logical choice, then.

CNN has a few other options to consider, including Robert Lane, chairman and of Deere & Co., John G. Rice, vice chairman of General Electric and president and CEO of GE Technology Infrastructure and Sergio Marchionne, CEO of Fiat S.p.A. We could possibly see Marchionne getting the nod, considering that he's had plenty of experience in the automotive world, but many would surely question whether GM should go the way of Chrysler and Ford by appointing non-car-guys to take the helm.

[Source: CNN]

Would Ghosn be the best choice to lead GM? originally appeared on Autoblog on Wed, 10 Dec 2008 09:31:00 EST. Please see our terms for use of feeds.

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Lee Iacocca in favor of keeping Detroit 3 CEOs

Jeremy Korzeniewski — Tue, 09 Dec 2008 15:00:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, Chrysler, Ford, GM

If there's anyone out there who's qualified to opine on what it takes to turn around a struggling automaker, it's Lee Iacocca. Those old enough to remember life in the late '70s can recall Iacocca's first stint at the head of Chrysler, way before the automaker was ever purchased by Daimler and its subsequent sale to Cerberus. The situation in which the beleaguered automakers currently find themselves bears a striking similarity to that of Chrysler's in 1979, except that Chrysler was the only one of the Big 3 that needed Federal help back then and the total loan offered to Chrysler was just $1.5 billion.

Today Lee Iacocaa has finally offered his take on what should happen to Detroit's current execs. "Having been there, I do not agree with the sentiment now coming out of Congress that the management should be changed as a condition of granting loans to the Detroit automakers. You don't change coaches in the middle of a game, especially when things are so volatile." He adds, "They're by far the best shot we have for success."

To many, Iacocca is the man most responsible for righting the ship at Chrysler back in the early '80s, creating the venerable K-car and fast-tracking the first minivan, so his opinions should carry a bit more weight than others. But is he right?

[Source: AP via Google]

Lee Iacocca in favor of keeping Detroit 3 CEOs originally appeared on Autoblog on Tue, 09 Dec 2008 15:00:00 EST. Please see our terms for use of feeds.

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Calling for GM bailout may cost Wagoner his job

Jeremy Korzeniewski — Fri, 14 Nov 2008 16:42:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, GM, Earnings/Financials

General Motors' CEO, Rick Wagoner, who's been manning the helm for the last eight years and a part of its staff since 1977, has taken some heat for asking the Feds for a bailout. A possible condition for those funds may be the symbolic sacrificial death of its current leader, according to a slew of analysts polled by Bloomberg. Whether true of false, there seems to be a sense that the CEOs of U.S. automakers are some of "the dumbest people in the world," according to ex-Chrysler prez. Thomas Stallkamp. Ouch. Ford has stated that it doesn't need a bailout and Chrysler is actively looking for partners to keep itself alive.

In the last few months, when the government has bailed out institutions such as AIG, Fannie Mae and Freddie Mac, one stipulation was that its top management be replaced, and that sentiment may stick around if the Detroit 3 receive packages of their own. Although Wagoner isn't likely to step down willingly, he may not be given the choice if some legislators get their way. Here's an unanswered question, though... who would be the best man to replace him?

[Source: Bloomberg]

Calling for GM bailout may cost Wagoner his job originally appeared on Autoblog on Fri, 14 Nov 2008 16:42:00 EST. Please see our terms for use of feeds.

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GM Chairman upbeat in "State of the Business" address

Stuart Waterman — Tue, 06 Jun 2006 14:42:00 EST

Filed under: GM, Earnings/Financials

Speaking to General Motors' Annual Meeting of stockholders, the company's Chairman and CEO, Rick Wagoner, was generally upbeat about the progress of GM's restructuring plan, pointing to a profitable first quarter in Europe, strong growth in the Asia Pacific region (particularly China), and rising sales in Latin America, Africa and the Middle East as evidence of the company's success globally.

With respect to the all-important North American operation, Wagoner was bullish on the success of its recent "launch vehicles" (GM-speak for new models), such as the Chevy HHR, Saturn Sky, Pontiac G6 convertible, HUMMER H3, and new full-size SUVs, predicting that launch vehicles would account for fully 30 percent of GM U.S. sales in 2006, and about 40 percent in 2007.

More after the jump...

Continue reading GM Chairman upbeat in "State of the Business" address

GM Chairman upbeat in "State of the Business" address originally appeared on Autoblog on Tue, 06 Jun 2006 14:42:00 EST. Please see our terms for use of feeds.

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