«Coming Alive Into The Next Year»

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

General Motors will not sell any of its makes of cars. Development chief Bob Lutz places his hopes for survival primarily on the new president.

Like the other major US car manufacturers, General Motors (GM), which is badly hit, does not want to sell any of its car brands. "It would be like trying to get individual eggs out of an omelette and sell them - that doesn't work!", Said head of development Bob Lutz to the Swiss business magazine "Bilanz". GM could rather take individual car brands off the market, which would mean "one-off costs of one to two billion dollars" per brand. Lutz also refused to sell the German manufacturer Opel, as demanded by politicians in Germany. Opel is an integral part of the GM network and is “not the critical size” to survive. "The idea that you can release Opel is completely utopian."

Break in up to 50 percent

According to Lutz, the auto company General Motors is also relying primarily on the new President Barack Obama. "We have to keep fighting now, save, introduce emergency measures and see that we come alive into next year until Obama takes office". He said several times that he wanted to support the US auto industry.

Lutz calls for an injection of liquidity for the US auto industry: Since “the banks are currently not lending anything”, people could not buy anything. This credit crunch and the resulting drop in auto sales by 50 percent must be bridged. "It will probably take a year to solve the problem." (dpa)