GM STEALS SPOTLIGHT AT AUTO SHOW
For the first time in its history, General Motors won both the
Car and Truck of the Year awards at the 2007 North American International
Auto Show in Detroit.
The Chevy Silverado was expected to win over the Ford Edge and the
Mazda CX-7. The Saturn Aura was a surprise winner over the Honda
Fit and Toyota's Camry, the best selling car in America.
Though it's no longer the dominant force it once was, GM's showing
at the auto show is part of a steady stream of good news from the
automaker as it seeks a turnaround.
In addition to winning the coveted awards, GM's CEO Rick Wagoner
also introduced the Chevrolet Volt, the new GM Concept Car. The
Volt is the flagship of a new line of vehicles called E-Flex that
will run on electronically driven propulsion systems. It travels
40 miles solely on electricity before the engine kicks in to charge
the batteries.
According to Bob Lutz, GM's product development chief, the Volt,
on a 60-mile commute, would get the equivalent of 150 miles per
gallon. Lutz added that the Volt's future will depend on improvements
in battery technology, but doesn't think a rollout by 2010 is unreasonable.
In other developments:
GM unveiled the new edition of the Cadillac CTS at the auto show.
The new CTS will be exported to China as part of the company's overall
effort to market the Cadillac brand there.
Today, GM introduced its all-new Chevrolet Malibu. Company officials
have high hopes for the car, which boasts more luxurious appointments
than its predecessor and a competitive base price of about $20,000.
It offers an enlarged sunroof and remote starter and will also be
offered in a hybrid version when it goes on sale this fall.
Finally, the European unit of GM is expected to post a record profit
for 2006, its first in six years. The unit accounts for a fifth
of GM's total auto revenues. GM said it sold more than 2 million
units in Europe for the first time last year.
Although Wagoner is pleased with the progress to date of GM's turnaround,
he acknowledged that future challenges remain.
1/9/07
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