GM exec: Company should be “solidly profitable” in 2010 -

GM exec: Company should be “solidly profitable” in 2010

Vice-chairman confident new sales will spark rebound


GM expects demand for new cars and trucks to rebound in 2010, bringing with it solid profits for the financially unstable company. “I think we are finally in a position where, from a financial structure, we should be [profitable],” said vice-chairman Bob Lutz, ahead of  the North American International Auto Show in Detroit. Analysts have described the auto industry as one in flux; government intervention and bailouts, massive structural changes, new competition from India and China, and technological innovations will all shape the automotive sector this year. U.S. sales fell by about 20% in 2009, or about 10.4 million vehicles—GM’s worst performance in nearly three decades. Lutz predicts sales will bounce back to between 11 and 12 million vehicles in 2010.

CBC News

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GM exec: Company should be “solidly profitable” in 2010

  1. Great then they can refund some money to some of us who purchased Saturns in early 2008 who were then left feeling abandonded owning expensive vehicles which we obviously paid too much for at the time and which will surely de-value further than originally anticipated. I am a long term GM purchaser who now feels totally abused by this company. Unless something is done to recognize what I am being put through then I'm finished with GM forever and will continue to be quite vocal about it!