Rick Wagoner Industry Quotations

Jerry brings years of business experience and knowledge of the automotive industry to the GM board. We are pleased to welcome him to our Board.

I was incredibly impressed with his (Lutz's) continuing passion and enthusiasm for cars and trucks and the auto industry in general,

We are confronting a dramatic change in our industry and in the global competitive environment, and that requires us to look for additional ways to reduce financial risk and improve our competitiveness for the long term.

These results reinforce the need to step up our efforts to eliminate waste and lower costs, ... The industry continues to venture into new territory -- near-record demand mixed with unprecedented price pressures and intensely strong competition on all fronts.

It's clear that the U.S. market and economic conditions have become significantly more uncertain. Overall we remain very bullish on the prospects for the auto industry in the U.S. and globally but at this point we are viewing the U.S. economy and auto market environment with considerable caution.

The industry sales mix is shifting away from the larger, higher-profit vehicles, even pickups, ... reflects too much reliance on those products for profitability.