GM's Wagoner Sends "Volts" Through Detroit
GM appears to be flexing new muscle at the Detroit auto show. Not only did America’s largest auto company unveil a new muscle car, the Camaro convertible--but as CNBC’s Phil Lebau learned--GM CEO Rick Wagoner says he has clear plans to make his company equally lean and mean.
On "Squawk Box" Wagoner told LeBeau he expects to see improved operating results and lower cash outflow in ’07. In addition “We hope in 2007 we can get more momentum driven by the new products we’re launching that can drive the revenue side of the business even more.”
Wagoner also explained that General Motors expects 40% of retail volume will be from products launched this year (that compares to 30% from ’06). “Then,” added Wagoner, “Beyond ’08 – we’ve got some great things coming to.”
That includes one of the most talked about GM cars in a long time, The Chevy Volt. It’s an electrically driven car that’s much more stylish than what’s currently being made by Toyota and Honda. Although it’s still in the design stage, Wagoner believes the day is coming in the not too distant future when people will be driving electric cars.