GM to cut back on variety of vehicles -NYT
By MarketWatch
NEW YORK (MarketWatch) -- Facing its worst financial outlook in more than a decade, General Motors (GM) outlined a new product development and sales strategy Thursday, saying that from now on Chevrolet and Cadillac would be the company's only brands to offer a full lineup of vehicles, The New York Times reported in its Friday editions.
The company's other six brands marketed in the U.S. will focus on a narrower selection of segments. GMC and Hummer will continue to sell trucks while Pontiac, Saab and Saturn will focus mostly on cars and smaller S.U.V.'s, with Buick offering some of both, the paper reported.
"GMC, Pontiac, Buick, Saturn, Saab and Hummer can offer vehicles that are very specific rather than shipping millions of identical vehicles all over the world," said Mark LaNeve, G.M.'s new marketing chief, according to a transcript of a speech he gave Thursday in New York. "Our complementary brands won't succeed as 'Little Chevrolets' or less-expensive Cadillacs. They have to be distinctive, differentiated products."
LaNeve also said G.M. would push to make more progress in a continuing effort to package Buick, Pontiac and GMC together under the same roof so that the three brands can be positioned to offer vehicles that each individual brand can not, the Times reported.
marketwatch.com |
