Rick said it; General Motors does not need a partner to complete its recovery. According to an interview with Wagoner by Automotive News, the CEO of GM thinks 'It's not logical or responsible to say we must have a partner to recover.' GM is currently studying whether it will allow billionaire investor Kirk Kerkorian to bring the General into a permanent alliance with Nissan and Renault. Wagoner's interest in any venture, simply put, is about selling more vehicles. A
Saab and HUMMER won't be hitting the Orphan Car Show anytime soon, says Rick Wagoner. General Motors' top guy told shareholders yesterday that the company won't be taking the advice of new board member Jerry York, billionaire investor/GM stakeholder Kirk Kerkorian's right-hand man. York made waves in the industry just before he joined the board, when he gave a speech suggesting that GM axe the Saab and HUMMER brands, among other suggestions.
In its report on first-quarter worldwide sales, General Motors made a point of highlighting the success of HUMMER and Saab as part of its 4.4 percent growth overall. The two brands have attracted criticism in recent months, notably from board member Jerry York who suggested in January that the company dump both marques.
Tracinda's Jerry York appears to have changed his tune about what General Motors needs to do in order to get back on track, according to Bob Lutz. Kirk Kerkorian's right-hand man made headlines in January, calling for GM to axe Saab and possibly HUMMER to focus on the automaker's core brands... but now, Lutz says, York acknowledges that he spoke too soon.