GM has freed up cash to fund a major update of its full-size pickups

After a long lull in sales, General Motors Co. announced that it will be spending a huge amount to remodel its full-size pickups. GM is in high hopes that consumers and businesses will resume buying trucks. GM product chief Tom Stephens said that Chairman and Chief Executive Edward E. Whitacre Jr. has agreed to fund the move.

A source said that this will cost the company nearly $1 billion. GM had put off redesigning the trucks because its financial struggles especially that it faced a government-backed bankruptcy reorganization last year. A major portion of GM’s revenue and operating profit come from full-size pickups such as the Chevrolet Silverado.
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carguy68 - 1/15/2010 5:43:59 PM

-2 Boost

what for!!

Joe_Limon - 1/15/2010 6:09:52 PM

+6 Boost

Hell ya! Here I thought the automotive world was drying up due to the focus on eco shit boxes. Investing in trucks when everyone is trying to make small cars will allow Ford to eat up even more of this profitable market.

Joe_Limon - 1/15/2010 6:10:16 PM

+2 Boost

lol GM*

Joe_Limon - 1/15/2010 7:20:51 PM

+1 Boost

shhh, don't remind me :(

veyron1001 - 1/15/2010 7:48:59 PM

-1 Boost

Where are they getting this negative money from?

91z4me - 1/16/2010 8:06:00 AM

+2 Boost

They are starting to make money. If you had a business with a VERY profitable line of high cost products, wouldn't you update them?

In fact if you want your bailout money back then you should be ALL for this, since likely most of that money will come from the GMT900 products and their replacements.

pennfootball - 1/18/2010 10:10:06 AM

+1 Boost

DID YOU KNOW THE NET OPERATING COSTS OF A VERYON ARE 300,000 A YEAR? 30,000 BUCKS FOR TIRES EVERY 2500 MILES AND 50,000 FOR TIRES AND WHEELS EVERY 10,000 MILES! BUT IF YOU WANT A WARRANTY TO INCREASE FROM 2 YEARS TO 4 YEARS ITS ONLY 50 GRAND!!

hk4site - 1/16/2010 1:28:11 PM

+1 Boost

Looks like the UAW is getting a break on health care, what a bunch of goons!

truckman - 1/16/2010 1:34:53 PM

+1 Boost

Chev is going to come out with a sticker package, lol I will most likely be disappointed unfortunately, Chev has to follow Ford, like the ford Raptor off road package, more than just stickers and looking mean. And what is with Obamma ordering the auto companies to make smaller cars, how stupid! How about ordering better MPG, wouldn't that make sense.Vehicles just have to be lighter, not smaller.

pennfootball - 1/18/2010 10:07:14 AM

+3 Boost

YAY!! HOPEFULLY THEY WILL ADD CRUMPLE ZONES THIS TIME AND NOT TIE THE FENDERS TO THE FRAME WITH CHRISTMAS REEF WIRE HANGERS.