General Motors, once the largest carmaker in the world plans to save $1 billion by optimizing its logistics circuit and material costs, chief financial officer for North America Chuck Stevens said.
Also the company plans to introduce 18 new of refreshed vehicles in the United States in 12 months – in an attempt to boost profit and market share that reached an 88-year low last year.
GM expects 2013 and 2014 to be “good years,” Akerson told reporters in January; the company returned to the Standard & Poor’s 500 Index for the first time since its 2009 bankruptcy, gained 0.2 points of U.S. market share and has reported 13 straight profitable quarters.
“The auto industry is alive and well,” said George Magliano, senior economist at IHS Automotive in New York. “And today one of the leading industries in the recovery, though it’s a rather lackluster recovery, is the auto industry.”
From coast to coast, the industry is in top gear. Most of the companies are operating at about 95 per cent of capacity, and many are already running three shifts.
Sales up …
Last month GM reported its best May since September 2008 – 252,894 vehicles sold in the U.S., up percent compared with a year ago. Retail sales increased 9 percent, fleet sales were down 10 percent and the fleet mix was 26 percent of total sales.