What now for GM? With the bankruptcy announcement, many are wondering what will become of the General. GM wrote a letter to customers that states the Volt is here to stay and we reported on an interview with GM's own co-creator of the Volt Jon Lauckner who also states that the Volt is here to stay, but over at the Wall Street Journal, they recently questioned what will become of the Chevy Volt.
It's a question worth pondering at least. The Chevy Volt has its positives for the company and its negatives. The Volt could be GM's key to reaching the lofty new figure of 35.5 mpg CAFE average by 2016, but it's speculated that it will not be profitable for the company for years to come.
The problem with the Volt as it pertains to GM's future is on one hand they need the Volt to meet CAFE requirements, while on the other hand having a vehicle that is not profitable will be difficult for a bankrupt company to justify.
It seems unlikely at this point that GM would cancel a vehicle that has created so much hype and talk, but control over that may be out of their hands as the government now assumes approximately a 60 % ownership of the company.
Now that the company is owned by the Federal Government and in a way by us the taxpayers, we should have a say. Let GM keep the Volt alive. It's about a lot more than just money.
Source: Wall Street Journal
GM LETTER TO CUSTOMERS:
What does this mean for GM's current customers and future car buyers? For our current customers, GM will succeed and win by taking care of you every day. There will be no interruptions in GM's ability to take care of our customers and honor customer programs, warranties and provide replacement parts. In fact, GM has asked the court for specific orders authorizing GM to honor customer warranties and programs as it always has. You should have total confidence that:
- Our products are safe and sound;
- We will honor your existing warranty;
- GM dealers will have the same access to replacement parts as they always have;
- Customers of discontinued brands or dealerships that have closed as part of GM's viability initiative will continue to be supported by other GM dealerships;
- Customer promotions and incentives will continue without interruption;
- You do not need to do anything differently regarding your warranty;
- There is no impact on OnStar service; your OnStar subscription will remain in place
- GM continues to have a nation-wide network of Goodwrench technicians trained to
- perform maintenance and repairs on your GM vehicle
This is good news for customers who want to buy cars from an automaker with an award- winning lineup of cars and trucks with rock-solid warranties and other customer-support programs, one that is a leader in green technology, and one that has a promising future. All customers should have confidence in New GM's ability to serve the needs to customers in every way, including the commitment and ability to honor warranties for many years to come.
Will New GM honor customer warranty claims?
Yes. GM will succeed and win by taking care of our customers every day. New GM will assume the obligations to support the express warranties issued by GM to its customers.
Can we expect to see new products and technologies in GM's future portfolio?
Yes. GM will continue to make a significant investment in future products and new technologies. The New GM will have a number of key vehicle launches in 2009 and 2010, including:
- Chevrolet Camaro, a dramatic, moderately priced sport coupe with highway fuel economy of up to 29 mpg
- An all-new Buick LaCrosse premium midsize sedan
- The luxury midsize Cadillac SRX crossover and CTS Sport Wagon
- The Chevy Equinox and GMC Terrain, midsize crossovers with class-leading highway fuel economy of 32 mpg
- The Chevy Cruze, GM's new global compact car
- The revolutionary Chevy Volt, an extended-range electric vehicle that can travel up to 40 miles on battery power alone
Will customers still be able to get service parts to repair their vehicles?
Replacement parts are, and will continue to be, available to service and maintain GM vehicles. Customers can be assured that GM and our dealers are open for business and are committed to meeting the service needs of our customers now and well into the future.
Did my GM Card earnings program change? Are my earnings still valid? We intend to continue honoring customers' GM Card earnings. In its first day motions GM asked the Court to maintain the GM Card program. Customers can continue using their GM Card at more than 18 million locations where MasterCard is accepted.
Who can I contact with additional questions?
CUSTOMERS WITH QUESTIONS MAY CALL: 1-866-405-4005