In all of the statements released by General Motors, the now bankrupt automaker said that its new products and technologies are on track. It said that that the New GM will continue with key vehicle launches in 2009 and 2010 including the 2010 Chevrolet Camaro, 2010 Buick LaCrosse, 2010 Cadillac SRX and CTS Sport Wagon, the 2010 Chevrolet Equinox, Cruze and Volt along with the 2010 GMC Terrain.

“Our products are our future, and our lineup of new cars and crossovers are a great foundation for success,” said CEO Fritz Henderson. “The New GM is here to stay, and our brands position us to compete well in profitable segments with vehicles that are second-to-none.”

GM said that it will launch the Chevrolet Volt plug-in hybrid by the end of 2010 and expects to have 14 hybrid models in production by 2012. It said that 65 percent of its vehicles will be alternative-fuel capable by 2014.

“The New GM will become a long-term global leader in the development of fuel-efficient and advanced-technology vehicles,” said Henderson. “In doing so, the New GM will contribute to the development of advanced engineering and manufacturing capabilities in the United States, which are critical to the future of the U.S. economy.”

SOURCE: AutoSpies

President Barack Obama may be the only investor willing and able to keep General Motors Corp. and Chrysler LLC alive, but his biggest endorsement at today’s announcement on fuel economy went to Ford Motor Co.

At the end of a Rose Garden ceremony unveiling new mileage standards, Obama stepped back from the podium, then threw in an impromptu plug for his hybrid Escape sport utility vehicle.

“By the way, I just want to mention, I think I still have my Ford parked in Chicago,” Obama said. “It’s a Ford hybrid, it runs great, you guys should take a look.”

Ford Chief Executive Alan Mulally, standing next to the president, pumped his fists in the air as the crowd laughed.

As he turned to leave again — perhaps realizing there were executives from nine other automakers standing behind him, including GM and Chrysler — Obama threw in one more aside.

“But there are also some outstanding hybrids and energy-independent cars represented up here, so I didn’t want to just advertise for one,” he said.

Chrysler Chief Executive Bob Nardelli and GM Chief Executive Fritz Henderson ducked out of the White House after the ceremony. Henderson headed back to the Treasury Department next door for meetings with Obama’s auto industry task force, which will decide in the coming days whether to push GM into bankruptcy.

SOURCE: FreeP