Myth

GM didn’t anticipate the growing demand for fuel efficient cars

Fact

  

The very rapid shift from trucks to cars that occurred when fuel prices spiked this spring has forced all carmakers to adapt.  With its current and future product lineup, GM is well positioned to take advantage of growing demand for fuel efficient vehicles. 

 

Myth

GM is not actively pursuing energy saving technologies

 

Fact

 

   GM sells cars and trucks in every major market in the world, and it is clear to us that oil alone cannot fuel the world’s rapidly growing vehicle fleet. That’s why GM is aggressively pursuing a broad range of advanced propulsion technologies.

These include:

• Improved internal combustion powertrains, which can squeeze more miles from each gallon of gasoline or diesel;
• Flex-fuel vehicles and investments in advanced biofuels;
• An expanding fleet of hybrid vehicles — nine hybrid models by mid-2009;
• Electrically-driven vehicles like the Chevy Volt, which is scheduled to go into production in 2010;
• Advanced fuel cell vehicles, which are currently undergoing fleet tests.

There is no one-size-fits-all answer. Different countries and different customers will require different solutions. We are committed to being a global leader in providing these solutions.

GM Chairman and CEO Rick Wagoner outlined this strategy at the 2006 Los Angeles Auto show.

September 10, 2008

Myth

GM is looking for a government bailout 

 

Fact

 

We are not seeking a bailout, or a handout.  We are talking about loans, which must be repaid in full, with interest.

We are asking Congress to fund a loan program already authorized as part of major energy legislation last year.  These loans are specifically designed to accelerate investment in energy-saving technologies, and help carmakers and suppliers more quickly introduce cleaner, more fuel-efficient vehicles.

GM is already investing billions in technologies that help drivers use less fuel, help America reduce its dependence on petroleum, and help GM comply with aggressive new government fuel-economy mandates. 

This federal direct-loan program is a powerful and appropriate incentive to speed this transformation, which is vital to our industry, and to the country as a whole.

September 10, 2008

Myth

GM plans to stop leasing vehicles

 

Fact

 

GM recently cut back on its leasing programs, due to the increased cost of credit and other economic factors. Instead, the company will focus its incentives on helping customers purchase new vehicles with price discounts or cash bonuses. Employee Discount for Everyone is such a program.

GM will continue to offer lease incentives on some vehicles, and GM dealers will continue to offer leasing through GMAC and other financial institutions. But until the credit markets and overall economy improve, auto leasing will likely remain a modest part of the business for finance institutions, GM and many other carmakers.

September 19, 2008

Myth

GM no longer matters to the U.S. or its economy

 

Fact

 

The U.S.-based auto industry remains a vital part of the economy.  It generates more employment, annual economic output, exports, and retail business than any other industry.  It directly employs a quarter of a million Americans, and supports another 5 million at dealerships, suppliers and service providers.

U.S.-based carmakers spend more on R&D than any industry – more than $12 billion annually. We also provide healthcare benefits to 2 million Americans, and support nearly 800,000 retirees and spouses with pension benefits.

In short, the economic impact of this industry is substantial, and reaches every state in the nation.

There is also the matter of national pride. GM is one of a handful of U.S.-based manufacturing companies that compete head-to-head with the world’s best in global markets. We are proud that we have become a truly global company, and proud that we are a leader in fast growing markets like China, Brazil and Eastern Europe. We are also proud that American brands like Chevrolet and Cadillac are known and admired around the world.

Myth

GM vehicles are not as fuel efficient as comparable imports

 

Fact

 

A visit to the EPA fuel economy site shows that, segment for segment, GM vehicles are competitive with any vehicles in the market.

GM currently has more models with EPA highway ratings of 30 mpg or better than any other carmaker, 18 in total.

We are not resting on our success. We are working to further improve the fuel economy of every new vehicle we build. For example, we recently announced plans for a new Chevy compact car, the Cruze, which is expected to have signficantly better fuel economy than the Cobalt, which is already among the most fuel efficient vehicles in its segment.

September 3, 2008

Myth

With a few exceptions, GM designs are uninspiring

 

Fact

 

That might have been true in the past. But if you look at new GM vehicles – the ones we’ve recently introduce and those on the way – they tell a very different story.

CTS, Malibu, Aura, Astra, Enclave, Acadia and Vue are just the beginning. Soon to follow are the Traverse, Camaro, CTS Coupe and Wagon, SRX, and more.

GM intends to reclaim its legacy as a design leader. Please watch the upcoming auto shows for more great examples of GM designers at work.

September 19, 2008

Myth

GM can’t compete with Toyota in the global sales race

 

Fact

 

GM finished slightly ahead of Toyota in 2007, recording its second best global sales ever, almost 9.4 million vehicles. In the U.S., GM outsold Toyota by more than 1.2 million vehicles.

GM finished ahead of Toyota in nine of the top 10 global markets. Toyota dominated the market in Japan (where the largest importer, Daimler AG, had a mere 1.4% share).

GM and Toyota remain the world’s largest carmakers by a considerable margin. The second tier – Ford, VW Group, and Renault-Nissan – each sell about 6 million vehicles per year.

Given the uncertainties in the market, GM is not making sales projections for this year. But we are clear on two things: We will continue to compete hard for every sale. And we will keep our focus on sustainable, profitable growth.

September 19, 2008

Myth

The Volt is vaporware

 

Fact

 

There are dozens of companies around the world promising a practical electric vehicle in the near future. While we can’t comment on the efforts of others, we can assure you, the Volt is for real.

On June 3, GM announced that production funding for the Volt had been approved, and that GM’s Detroit Hamtramck plant has been selected as the assembly plant, pending government approvals.

Meanwhile, development of both the car and its lithium-ion batteries continues apace. For the latest information, please see our Volt website.

The Chevy Volt is a revolutionary product, and as such, it demands maximum effort from everyone involved. But we are on target to start production toward the end of 2010, and excited about the potential for the Volt.

September 2, 2008

Myth

GM can’t compete

 

Fact

 

GM competes head to head with the best global carmakers in every major market except Japan, which is effectively closed to non-Japanese companies. And we do quite well, thank you. We are on track to sell more than 9 million vehicles globally for the fourth year running, and we are setting sales records in our three regions outside of North America.

In North America, our new vehicles have been consistent award winners, and they continue to win over customers in a very tough market.

GM is one of a handful of companies with the resources to truly reinvent the automobile. Whether it is advanced internal combustion engines, biofuels, hybrids, fuel cells, or electrically driven vehicles like the Chevy Volt, GM is committed to being a global leader in advanced propulsion, which will reshape the auto industry during its second century.

September 1, 2008

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