In a marathon meeting with the bank and investment-community analysts, General Motors Co. said that the carmaker will rely less on trucks and is preparing to produce several new or updated models in the future.
GM wants to persuade people that it is ready to once again be a publicly-held operation instead of being perceived as "Government Motors" as 60% of it is owned by the US Department of Treasury.
GM gave broad information about its future products, in particular with how these will boost its bottom line. GM also said that it plans to launch 70 new or refreshed models worldwide by 2014 but very few specific details were provided. It's speculated though that many of these models will be sold in markets outside the US at countries where GM projects most of its growth in the next four years.
In the US, GM will withdraw focus on the large truck business and will instead push mid-cycle refreshes, according to product-development boss Tom Stephens. Many are wondering if the low-volume cars such as the now-defunct Pontiac Solstice are in danger at the new GM.
Stephens made a statement that 80% of all GM vehicles will be based on global platforms by 2014. But it remains unclear how this will affect the development of niche cars or low-volume, dedicated-platform models like the Corvette. Stephens confirmed that there are currently 16 individual models riding on the single global midsize-car architecture often referred to as Epsilon or Epsilon II.
GM executives revealed that Europe will launch 14 new Opel/Vauxhall vehicles from today until 2014. Meanwhile, the Chevrolet brand, which will be boosted worldwide, will be doing 13 launches in the same period.
Not a lot was said about the upcoming models for the US but GM did show a concept version of the next-generation Chevrolet Impala (which will continue with front-drive architecture) and the production version of the Cadillac XTS, as well as sketches of the next CTS.