GM Announces Massive Losses But Is Still Producing New Cars
Today, GM announced a loss of billions of dollars for the third quarter, as well as many upcoming job cuts. In addition, GM claims that it will run out of money by February of next year without government help. Yet, it is still planning to produce new car models over the next two years, exactly 15 in the U.S.
Although the company has plans to cut billions of dollars of costs for the next year, it is still going to launch new products. The Chevy Volt electric plug-in hybrid is the most notable because it will actually receive an increase in spending.
What other vehicles are still slated for launch? Still on their way, but probably delayed are the Cadillac CTS Wagon and SRX crossover. Also, the Chevy Camaro, Chevy Equinox crossover and Cruze compact car.
So, where does this leave the car shopper? Not only will you have to anxiously wait for these new cars to come to showrooms, you will also have to wait to see if the company is going to survive by the time the cars are supposed to debut. So, you might want to purchase an auto warranty and maintain your current car, and not hold your breath for these new models, just in case.