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Friday, May 16, 2008

GM TO GET DRAMATIC REDESIGN

DETROIT, MI -- After months of holding out hope that U.S. truck sales
would rebound, General Motors Corp. is accepting that the market shift
toward more fuel-friendly vehicles isn't likely to end.

The automaker . . . said Tuesday that it's been over-promoting its
largest vehicles and plans to change course. Instead, GM will
implement a "dramatic redesign" of its marketing strategy that places
a much greater focus on its high-mileage cars, new hybrids and other
fuel-efficient vehicles.

Through April, full-size SUV sales are down 30 percent and large
pickup sales are down 17 percent industrywide. GM's light truck sales
are down 17 percent through April compared with a year ago; car sales
fell 4 percent.

"There have been a lot of questions about whether the U.S. economy is
in recession," GM Chief Operating Officer Fritz Henderson told a
bankers' conference. "The U.S. auto industry is definitely in a
recession."
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