General Motors today outlined progress it has made toward achieving commitments in its business plan, including implementing a leaner structure, building stronger brands, and driving a company culture that puts the customer at the center of everything it does.
Since launching the new company on July 10, GM has made demonstrable progress in positioning the company for success; putting in place a new global operating structure, a leaner and more streamlined executive leadership team, and a reconstituted Board of Directors. Emerging is a new GM with a cleaner balance sheet, fewer employees, an improved cost structure, a stronger dealer network, and streamlined global operations. Most importantly, the company has successfully launched new vehicles around the world that are performing especially well in their respective markets.
“Over the past 90 days since we created the new GM, we’ve already launched a number of new, fuel-efficient, highly successful cars and crossovers; introduced a new marketing campaign that highlights our best-in-class fuel economy, quality, warranty and safety performance; sworn in a new Board of Directors; and overhauled our management,” said GM President and CEO Fritz Henderson. “We are taking aggressive actions and moving quickly to transform our culture into one that is truly customer focused,” Henderson said.
Consumer reaction to GM’s newest vehicles is very positive. In the U.S., newly launched vehicles, including the Chevrolet Equinox, Cadillac SRX, Buick LaCrosse, GMC Terrain and Chevrolet Camaro all exceeded sales expectations in September. September year-over-year sales of the all-new Chevrolet Equinox are up 94 percent, and the all-new Cadillac SRX sales are up 105 percent compared with August.
Additional marketplace recognition came from the recent naming of three GM brand cars (Buick LaCrosse, Cadillac CTS Sport Wagon and Chevrolet Camaro) and two GM brand trucks (Cadillac SRX and Chevrolet Equinox) to the short list of nominees in the North American Car/Truck of the Year competition. The winners in each category will be announced at the North American International Auto Show in January.
To help spur demand, in early September, GM launched a new advertising campaign titled “May the Best Car Win,” which reinforces the company’s confidence in design excellence and award-winning vehicle quality. Edmunds.com reports brand interest in GM vehicles is up approximately 11 percent (from 18.1 to 20 percent) since the campaign launched.
In other world markets, the Daewoo Matiz Creative was launched in South Korea last month and has helped to double GM’s market share in the mini segment in that country within the first three weeks of sale. Demonstrating the strength of GM’s new global small car, since its introduction to the Australia market in late June, the all new Holden Cruze has become one of the country’s top 10 selling nameplates. The Chevrolet Agile is now launching in Brazil and Argentina, and initial receptivity by consumers and media is positive. In Europe, the new Opel Astra, introduced at the Frankfurt Motor Show, is ramping up production. The Astra is expected to perform well as a complement to the award-winning Insignia.