General Motors Co.’s restructuring plan is based on the assumption that it is capable of maintaining slightly more than 19% of the U.S. market. The remarks were taken from Board member Stephen Girsky who spoke during a panel discussion at a conference at Columbia Business School.
Girsky, who joined GM’s 13-member board as a representative of the UAW when the automaker emerged from bankruptcy in July, said, “The public plan is 19% and change.” This was Girsky’s response when asked what GM’s market share would be in three years. GM’s share of U.S. sales had peaked at 51.1% in 1962. The restructuring plan announced in May was based on maintaining an 18.5% share this year. GM held almost 29% in 2002.
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