General Motors Exits Bankruptcy
Well, that didn’t take long!
In fact, it took just six weeks to dismantle “the old GM” and build a new company; the biggest corporate bankruptcy in the history of the world is over!
That also means today marks the launch of a brand-new company, which is being called The New GM. According to their press release:
- GM gets back to the business of building great cars and trucks, serving customer needs
- New company created from GM’s strongest assets
- Four core brands backed by the nation’s largest and strongest dealer network
- Streamlined organization on a global basis for faster decisions, sharper focus on the customer
- Commitment to open communications
In that same press release, CEO Fritz Henderson said,
Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers. We are deeply appreciative for the support we have received during this historic transformation, and we will work hard to repay this trust by building a successful new General Motors.
We’ll see, won’t we? The company has a lot of work to do, but early signs are good, considering the recent news that Chevy’s Silverado and Camaro beat Ford’s F-150 and Mustang in June sales.
It’ll take a few model years of consistently quality products and innovative technology before I’d consider a GM product, but at least the company now appears to finally be on the right track.
Would you consider buying a vehicle from the new GM?
-tgriffith
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Holden the Australian arm of GM have just been granted a $200m line of credit by the government (last Friday). Whether it will really help the company remain profitable remains to be seen as the company is still reliant on it’s large car production of which sales are still trending down..