General Motors Co. Vice Chairman Tom Stephens told analysts about its future product plans, one of which is a family van that will soon be launched in several global regions.
Stephens, who is responsible for product development, will base the van on its global compact-car architecture. The analysts were shown a picture of the van during the presentation but the slides were not accessible to the media.
They were also shown a Chevy small-car concept and a Chevrolet SUV concept created by GM's South American region. However, no details were provided on the markets where these models will be made available.
Furthermore, he gave a preview of a three-row Buick business van designed for China. However, he didn't say what the timing would be for the launches of any of these vehicles shown.
During the conference calls, CEO Ed Whitacre and other top executives provided a review of GM's current business operations, including the restructuring in Europe, the growth in other markets and 85% capacity use in North America.
According to two sources, the US (which owns 61% of GM), could sell 20% of its stake in a planned initial public offering, making it a minority owner. At the technical center in suburban Detroit, Whitacre said that it is "not re-introducing GM," but rather, it is "introducing a new GM." Whitacre revealed that GM is poised to break-even during dips in demand. [via autonews]