This afternoon, General Motors chief financial officer Ray Young held a conference call with bloggers to discuss the announcements made by CEO Fritz Henderson this morning. One of the biggest aspects of today's announcements was the wind-down of over 2,605 dealers between now and the end of 2010. When Oldsmobile was shut down earlier this decade, the process took several years and much of the billion dollar cost was related to liquidating the inventory of vehicles that dealers had. According to Young, "We don't intend to repeat that mistake." This time around, GM is already in the process of slashing or ending production of the affected models. By the end of the year when Saturn and Hummer dealerships are closed, inventory should be at a minimum.
With whole brands and car lines being terminated in the coming months, it's clear that many more plants will be closed, but no further details have been announced. Specific announcements about plant re-alignments will be coming in the month of May from GM president Troy Clarke. With the demise of the Saturn Outlook, it seems probable that either the Delta Township plant in Michigan or the Spring Hill Tennessee plant will be shuttered and the production of the other three Lambda CUVs consolidated in one facility.

On the subject of product lines from the defunct brands, Young made it clear that none of the existing models would be ported over to the remaining four brands. That means cars like the Pontiac Solstice and Saturn Sky are finished forever. The same fate awaits the Saturn Vue and its two-mode hybrid variant that was scheduled to launch this summer. Young wouldn't get into details, but the technology will almost certainly be transferred over to the Chevy Equinox and GMC Terrain.

Young also reiterated that the updated plan was devised based on trying to be profitable in a U.S. market with only ten million sales annually. Young doesn't expect the U.S. market to approach its peak of 17 million sales again until at least 2014.

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