GM to Offer All-Wheel-Drive System on New Buick Rendezvous
14 February 2000
General Motors to Offer All-Wheel-Drive System on New Buick Rendezvous; Supplied by McLaren Traction Technologies Licensee Steyr-Daimler-Puch AG
LIVONIA, Mich.--Feb. 14, 2000--McLaren Traction Technologies, Inc., a division of McLaren Automotive Group, announced that the 2002 model year General Motors (GM) Buick Rendezvous will offer Versatrack an on-demand all-wheel-drive system, supplied by Steyr-Daimler-Puch AG.
The award-winning Steyr Geromatic(TM) Traction Control System (utilizing the patented Gerodisc(TM) Twin-Disc differential) is licensed by Steyr from McLaren Traction Technologies Inc., a leader in the design and development of advance automotive traction control systems.
The first truck based Buick in nearly 77 years, Rendezvous will be introduced as a 2002 model with production beginning in the Spring of 2001. It was recently unveiled both at the Chicago Auto Show and in San Diego, Calif. in conjunction with the Buick Invitational Golf Tournament.
Similar to the Pontiac Aztek, the Buick Rendezvous will offer an all-wheel drive system, called Versatrak, that engages automatically when sensors detect a loss of traction. Versatrak will be standard in the Rendezvous CXL and available in the Rendezvous CX.
It was reported that Buick executives expect to sell at least 50,000 of the Rendezvous a year, with a lot of upside, which analysts expect to reach 75,000 to 90,000 units.
"We were very pleased at the announcement by Buick that the Rendezvous would offer the Gerodisc technology based Versatrak all-wheel-drive system. Within the last month, two General Motors divisions have decided to rely on our technology for this next generation of all-wheel-drive traction control. This guarantees McLaren's position as a leader in advanced traction control well into the future," stated Louis J. Infante, McLaren Automotive Group vice president.
McLaren Engines and McLaren Traction Technologies are divisions of McLaren Automotive Group. The stock is traded on the Nasdaq Small Cap Market .
This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives. The forward-looking statements herein are based on current expectations that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgements with respect to, among other things, future economic, competitive, and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond control of the company. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any one of the assumptions could be inaccurate and, therefore, can be no assurance that the forward-looking statements included in this release will prove to be accurate.