GM Cancels L.A. Auto Show Press Events

Los Angeles Auto Show 2007

Another sign of trouble

By Alex Ricciuti
November 12, 2008 3:36 PM
Filed Under: American, Corporate/Financial, General Motors, Los Angeles Auto Show

You know an automaker is in trouble when they are canceling press conferences at auto shows. These are the kinds of venues where automakers are supposed to trot out their shiny, new products and rake in all the marketing benefits from the free media exposure.

But GM is in a dire financial situation and it will not be introducing any new models or holding any press events at the L.A. Auto Show. All new intros have been pushed back to the Detroit Auto Show in January.

GM will still be participating in the show and will put on display the extended-range including the production Chevy Volt, as well as several of GM's hybrids.

GM is in the worst position of the big three Detroit carmakers, all of which are facing an unprecedented threat of financial ruin and bankruptcy. Ford still has enough cash on hand to see it through 2009, which will be one of the toughest years in the automotive industry in the US in a long-time. But GM may run out of cash by mid-2009 if they do not receive a bailout package from the US government.

All three US automakers are lobbying Congress and the Bush administration for a bailout package. GM says it cannot wait for the Obama administration to take office and that it urgently needs money in the form of guaranteed government loans before then in order to avoid insolvency and possible bankruptcy.

The automakers are asking for an emergency fund of 25 billion US.

Source: Freep.com

Comments

gmfan09
November 12, 2008 4:07 PM
They need to fix whats F**ked up then get money. GM needs to slim down.

need4speed
November 12, 2008 4:10 PM
wow, maybe gm really is in financial trouble. so much so that it will threaten its future existence. we the loyal car enthusiasts should pitch in financially and salvage this once automotive juggernaut. whos in?

radmeister
November 12, 2008 4:16 PM
gmfan09:

They need to slim down to 0 and die.

need4speed:

Why? What has GM done for me other than trick me into buying one of their cars 4 years ago that was an utter POS, i gave up on it and junked it because it pissed me off so much. And it was only 1 year old with 30,000km. I want them to die, and painfully. They ripped me off. And destroyed one of my favourite brands SAAB. DIE DIE DIE

Motor_Yakuza
November 12, 2008 4:20 PM
u seriously need to chill out

gmfan09
November 12, 2008 4:24 PM
Yea seriously. Whats wrong with you

gmfan09
November 12, 2008 4:40 PM
I'm sorry you had such a bad experience with your GM product but that doesn't mean all of their cars are shit. Do you think people haven't had similar experiences with Toyota or Honda? There is an extreme bias towards American cars and i admit some of it is well deserved but most isn't. I have a 2000 Grand Prix with 150,000 miles on it and the only problem I have had is a broken power window cable and a broken mass air flow sensor (which was made by toshiba in Japan btw). While my dads 2001 BMW 525i has about 70,000 miles on it and he has spent more than $6,000 dollars on repairs sense hes warranty expired but he still raves about how great his bimmer is even though if he had had a CTS with that many problems he would have been fed up and traded it in by now. GM is starting to make the products it needs to compete (the most traded in vehicle for the new Malibu is the Camary which I think is the huge accomplishment product wise). GM needs to slim down like the completion overseas is. They have too many employees, too many dealers, and not enough money for them. GM doesn't need a money band aid they need a new company structure all the way though all levels.

davethepetrolhead
November 13, 2008 6:27 AM
You really need to seek some kind of help Radmeister it,s OK not liking a car company but your hatered of GM is weird. 1 bad car and you judge all GM products by it i know ppl who have bought dud Landcruisers yet still buy another Landcruiser instead of buying a Patrol or something else.

Motor_Yakuza
November 12, 2008 4:16 PM
hmm, well i know that GM have a future, all car makers have and had problems, it's just a matter how u solve them

Schizo0223
November 12, 2008 5:40 PM
GM needs to slash its brand portfolio (maybe just: Chevy, Caddy, and GMC?) They also need to renegotiate with its unions to restructre their pay and benefit plans.

Bad products...which they have had plenty of (Pontiac Aztec!!!)...need to be addressed as well.

Wickedated
November 12, 2008 6:43 PM
Everyone buy a ZR1, if GM goes under, that car will be worth $$$$$$ in future collections.

eddie
November 12, 2008 6:46 PM
Even with the bail out GM's only really good cars arecaddies. How many can they sell to stay above water. they dont have anything to offer in large amounts to to save them. They have been dumping their 70's technology for many years and have never upgraded like everyone else.

Iconic
November 12, 2008 7:06 PM
you are so right.. and do not need to chill out. Like i have said before, the only problem with them completely dieing are the millions of workers that will be screwed.

GM failed to think into the future when all they wanted to make were gass guzzling SUV's and trucks. Now they want to cry about it and ask for billions of dollars to save their asses. It's pathetic and completely irresponsible. they are betting their entire company on the stupid Volt, which will I predict will fail miserably.Americans need to let go of their emotional attachment to an "american brand". Besides we don't have more room for crappy cars like this.

radmeister
November 12, 2008 8:35 PM
This is why GM will fail, inferior product with a high price, ie. (All fully loaded)

STS-V 107,000$ Audi S6 106,000$ Merc E63 139,000$ BMW M5 117,000$

With the exception of the S6 all of them are SLIGHTLY more expensive, but they are way more loaded, with CF trim, dual clutch gearboxes, leather covered roof and dash, and the radar cruise control and UV night vision. So you tell me who in their right mind would buy a Caddy, the CTS-V will be the same thing just different category of vehicle. And this applies to all their cars, even if they are cheaper than the competition they lack so many features that it doesn't justify getting them. As a manufacturer they are a complete failure and deserve to pay the price.

pzigly
November 12, 2008 8:38 PM
Y dont those dumb asses come out with the camero already!!! I know atleast 3 people that want one once it comes out. What r they saving it for???!!!! Many people are holding off buying a car until it comes out. So get to steppin GM!! Instead of holding off the auto show for one of the biggest cities in the world. It just feels like they are doing every wrong decision and pissing off their loyal customers in the process.

Iconic
November 12, 2008 10:19 PM
Two words... Credit Crunch. this is the single cause of the economic meltdown. The banks that control the cash flow in the country are making it extremely hard for people to borrow money by hoarding everything they have. they are simply afraid they wont realize a return if they release it. so once they stop being a bunch of jerks maybe people can start buying cars and companies will be able to pay their employees and not fire them.... so they can go and start buying stuff again.

pzigly
November 12, 2008 10:30 PM
The thing is, that most people who will buy the camero are people without families and can afford this type of car (even during the credit crunch they will qualify) because all they need to support is themselves. This type of person doesnt care about gas. All they want is a cool car.

Iconic
November 13, 2008 7:02 PM
But the camaro alone won't save GM. It's a known fact that 60% of the population needs loans to buy a car, and the number of people that have great credit and actually are willing to buy a new car now is very small

BabyMilo
November 12, 2008 10:08 PM
i think that they should downsize the engines in their full sizes SUV's and maybe make some interesting small size cars... and make them eco friendly

howe2002
November 12, 2008 10:45 PM
Why don't they make an exact batch of '64 Impala's and '69 Camaro's and see how the public reacts. Maybe they should have thought about their future a bit more when they were buying SAAB, Hummer etc.. Drop some of the company weight that is pulling them down and build more European/Australian models. Get rid of the N. American garbage.

eddie
November 12, 2008 10:52 PM
You could have performance, gas mileage, safety,and small engines if you geared cars with top speeds of only 100 mph. Why do we need cars that can go 150 mph?

Joe_Limon
November 13, 2008 6:00 AM
If you gear a car that can go 150mph to go 100mph, it will idle higher, and operate at higher rpms, in then end causing you to burn more fuel. It isn't quite as simple as gear ratio's.

eddie
November 13, 2008 11:39 PM
We need some more 20mpg hybrid trucks from GM to save the earth.

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