LaNeve: GM's Sales Slide has "Bottomed Out"

[Variance]

LaNeve: GM's Sales Slide has "Bottomed Out"

General Motors Corp. U.S. sales decline has “bottomed out,” marketing chief Mark LaNeve told reporters in New York on Wednesday, and the company hopes to end a four-year slide in U.S. market share next year.

“If we grow a tenth of a point next year, I’ll be thrilled out of my mind,” LaNeve said, according to a report from Bloomberg News.

GM is counting on new SUVs and redesigned cars, pickups and SUVs to stop the fall, LaNeve said.

CEO Rick Wagoner is to brief reporters and industry consultants on GM’s restructuring and plans for new models later today at a meeting in Detroit.

Detroit Free Press

[SingleStylish]

FANTASTIC GM!!! You've finally learned how to play the PR mind game... downplay the reduction in production of the most profitable line you sell with this kind of "made-up" news!!! This really is a good sign that GM is back in the ball game playing hardball with PR giants like Toyota.

[enzl]

Wow. Haven't heard that one before! (remember the '30' (then '28') pins they had employees wearing a few years back?)

Due credit given for the proper spin on the news, however. Low expectations means little disappointment.

[sciguy_0504]

Sales will slide even further once gas hits $4.00 a gallon again and the GMT900s and, to a point, the Lambdas are sitting on lots with huge incentives. GM needs to focus on cars now as much as it has focused on the GMT900s and Lambdas, which are the best in their classes. Based on the Aura and from what I have seen of the upcoming Malibu it does not look like 100% focus is there.