New GM Emerges From Bankruptcy; Edmunds.com Comments
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EDITOR'S NOTE: Want some real perspective and honest opinion? Read The Auto Channel's comment on this story by CLICKING HERE.
SANTA MONICA, CA - July 10, 2009: A new General Motors emerged from Chapter 11 bankruptcy today as what is promised to be a leaner, greener car company. In addition to announcing the formation of the new, government controlled GM, it announced a plan for how the company expects to become profitable, focusing on customers, cars and culture.
“In recent years, GM has been burdened by its history, making it almost impossible to be truly competitive. This government supported bankruptcy, while controversial, has created an opportunity--but not a guarantee--of success for the new GM,” said Jeremy Anwyl, CEO of Edmunds.com.
“GM is fortunate to get another shot, most likely its last one,” said Michelle Krebs, Sr. Editor, Edmunds’ AutoObserver.com. “Its biggest challenge remains the same one it has faced of late; that is, convincing consumers – now also GM’s reluctant shareholders -- that the company truly is changing and understands what type of vehicles the marketplace demands.”