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Final Attempt

Title:

Final Attempt

Published: Wed, 1 Apr 2009

Description: GM rolls out new program in response to president's 60 day turn around ultimatum

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Automatically Generated Transcript (may not be 100% accurate)

" President Obama says enough is enough he's getting GM's sixty days to get their act together or face bankruptcy GM has responded by rolling out."

" A new campaign to inspire total confidence with consumers General Motors North American vice president of vehicle sales service and marketing mark. When -- need joins us live this morning good morning to mark. Good morning. So I want to talk about this total confidence package which will be a great thing for people going out to buy a General Motors car but first of all. I have to start off with the whole situation that's happened this week with your leader -- GM being ousted by the Obama administration and by all accounts now it looks like. The Obama administration moving to some sort of a bankruptcy plan. But it would split -- General Motors to a good GM with Chevrolet Cadillac and a bad GM was Saturn -- your thoughts."

" Well actually what we heard back from the Obama administration US treasury who have been very helpful and supportive and processes we've thought a lot which sacrificed a lot all we're stakeholders employees dealers. -- are you -- Barone -- UAW partners or suppliers etc. but that we need to go deeper. We need to go faster and and that you know we really it's incumbent upon us have a complete turnaround plan that could operate under any kind of downside. Scenario so that we can repay the loans and don't have to keep coming back to the government that's entirely -- tension. And I think what we're present Obama laid out was. We'd like to see this done as we would outside of a restructuring around outside the bankruptcy process but that's what it takes. That's what it takes we're going to fix and reinvent General Motors anyway you look at it hopefully we can do it outside bankruptcy. For forces some kind of three you know some kind of structure. You know filing then you were prepared to take that step."

" They mark I -- and get your program that quick question if the Obama administration decides it. We should go well agreed our economy can they forced GM to go away from them moneymakers the trucks that pick ups. And build smaller cars that don't burn gas."

" You know that's a very good question where the truck leaders today we have the best fuel economy. In those segments all -- new products that will bring to market the last year and coming up in the next year to. Our fuel efficient cars and crossovers award winning products to work that way anyway. American customers don't want to be forced into certain vehicles that you want to choice in the way were planned and it is. We're going to provide great fuel economy hybrid technology electric technology across a wide array of products big and small. To be able to accommodate the needs of our customers."

" Mark -- union leaders have also been fired if Rick Wagoner got the boot."

" You know as I said earlier the union are union partners have already sacrificed a lot as several employees or suppliers or dealers will be -- have to do more and that's what we're going to do we all believe very strongly. In General Motors and American manufacturing in a role leading to an energy independent America we're going to do. Believe me Brian Gretchen whatever it takes to make this company successful to take a leadership role in the revitalization of America here."

" I have total confidence package you offering payment protection for first 24 months of ownership to anyone who comes in and buy a car if they lose their income. Then General Motors makes denying payment up to 500 dollars per month a couple of the companies have done this why do you think it -- for you to get customers in the door."

" As we want to talk to customers it was a -- we that we already is an industry and GM have great rebates 0% offers in the market but the -- and let's -- the consumers freaked out right now all the bad news in the economy. Everything that's been going on so they are we so what's it going to take. This we want to be protected against any any resale which going to want to go to trade in a vehicle we want to be upside down. We want to be protected -- lose her job is worried about rising unemployment. We want great warranty we want to onstar and you we have launched our standard we have a 100000 mile -- warning in the industry. We that it equity protection which protects the customer the 5000 dollars a trade in time. In the first 14 months of ownership -- should the customer lose their job. -- may -- payments about the 500 dollars so it's really a great backs up hopefully no one or -- to use it but really provides peace of mind. Our shores of consumer confidence and provides a great backstop to the customer."

" and they'll go out of business because -- GM car. Now don't want the White House rotating my tires they're changing my oil you guys do it that all right."

" Brian I can assure you we're -- we're going to be around a picture you have are already yesterday we had a great clothes a lot of customers came in on the offer so we're excited good job market -- thanks again not talking to us. Great thank you guys thanks for coming on yet let's talk about."

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