Kacey Green
11-09-2008, 03:57 PM
GM: It's Sink or Swim time baby (http://www.wxyz.com/news/local/story.aspx?content_id=219a85a5-0fd5-4768-9ba6-64fda5965d82)
http://www.cleanmpg.com/photos/data/501/gm_hq.JPGAnon - WXZY - Nov 06, 2008
We will see, the Auto Industry and the rest of our economy need to start showing signs of life again. -- Ed.
A top executive for General Motors says the next 100 days will be a critical period for GM and the entire U.S. auto industry.
GM North America President Troy Clarke made the remarks at the OESA (Original Equipment Suppliers Association) conference in Detroit.
Troy Clarke's speech follows
I'm honored to be here marking the 10th anniversary of OESA. This is an important group to GM and to the auto industry. Congratulations Neil and all OESA members and staff on this milestone anniversary. OESA has been a terrific forum and resource for auto suppliers. I wish you continued success in your next 10 years and beyond.
As OESA members work so closely with GM, it's a fitting coincidence that we are also celebrating a milestone anniversary this year - our centennial. Thank you for your support of General Motors. I personally appreciate all of your hard work and the investments you have made toward our respective futures.
GM certainly is proud of our first 100 years.
And we plan to continue our record of accomplishments over the next 100 years as well.
The short term though - in a metaphorical sense the next 100 days - are critical for GM and the industry overall. In fact, this may be the most crucial time in the history of our industry.
For several months now, we've all faced some extremely difficult economic and market conditions... many the result of broader financial issues affecting not only the U.S. economy, but now global ones, too. In particular, we've been dealing with an unprecedented credit crisis, a weak U.S. economy, a weak U.S. housing market, record commodity prices, unpredictable oil prices, and eroding consumer confidence because of rising unemployment... just to name a few.
This fragile economy has resulted in auto sales plummeting. In October, the U.S. auto industry reported its lowest monthly sales in more than 25 years - that's a 2 million unit drop in SAAR over September. And if you adjust for population growth, this is the worst industry sales month in the post-World War II era… http://www.wxyz.com/news/local/story.aspx?content_id=219a85a5-0fd5-4768-9ba6-64fda5965d82
http://www.cleanmpg.com/photos/data/501/gm_hq.JPGAnon - WXZY - Nov 06, 2008
We will see, the Auto Industry and the rest of our economy need to start showing signs of life again. -- Ed.
A top executive for General Motors says the next 100 days will be a critical period for GM and the entire U.S. auto industry.
GM North America President Troy Clarke made the remarks at the OESA (Original Equipment Suppliers Association) conference in Detroit.
Troy Clarke's speech follows
I'm honored to be here marking the 10th anniversary of OESA. This is an important group to GM and to the auto industry. Congratulations Neil and all OESA members and staff on this milestone anniversary. OESA has been a terrific forum and resource for auto suppliers. I wish you continued success in your next 10 years and beyond.
As OESA members work so closely with GM, it's a fitting coincidence that we are also celebrating a milestone anniversary this year - our centennial. Thank you for your support of General Motors. I personally appreciate all of your hard work and the investments you have made toward our respective futures.
GM certainly is proud of our first 100 years.
And we plan to continue our record of accomplishments over the next 100 years as well.
The short term though - in a metaphorical sense the next 100 days - are critical for GM and the industry overall. In fact, this may be the most crucial time in the history of our industry.
For several months now, we've all faced some extremely difficult economic and market conditions... many the result of broader financial issues affecting not only the U.S. economy, but now global ones, too. In particular, we've been dealing with an unprecedented credit crisis, a weak U.S. economy, a weak U.S. housing market, record commodity prices, unpredictable oil prices, and eroding consumer confidence because of rising unemployment... just to name a few.
This fragile economy has resulted in auto sales plummeting. In October, the U.S. auto industry reported its lowest monthly sales in more than 25 years - that's a 2 million unit drop in SAAR over September. And if you adjust for population growth, this is the worst industry sales month in the post-World War II era… http://www.wxyz.com/news/local/story.aspx?content_id=219a85a5-0fd5-4768-9ba6-64fda5965d82