Executive Says There Is No Excuse For GM's Poor Financial Performance In 2014

General Motors North America President Alan Batey says the Detroit automaker needs to show progress in 2015 as it aims to grow marketshare — after 2014 in which the company faced a crisis over its record-setting recall of 30 million vehicles.

In an interview on the sidelines of the Chicago auto show, Batey said the automaker has “no excuses” for not showing improved results in 2015. GM earned $2.8 billion in 2014 in net profits, down 26 percent largely on dramatically higher recall costs.

“At the end of the day we’ve got to get business results and if we don’t get business results we deserve to be criticized — because we’ve got everything set up to be successful. We’ve got a fortress balance sheet, we’ve got scale and we cover the whole market. There’s no excuses and we’ve got to deliver,” Batey said. “In ’15 and beyond, we’re here to win. We’re here not to hold market share — we’re want to take market share. With this portfolio of vehicles we’ve got now, we need to go and make it happen.”

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JDMUSMuscle - 2/13/2015 11:55:59 AM

+3 Boost

“At the end of the day we’ve got to get business results and if we don’t get business results we deserve to be criticized"

At least they are thinking right.

But no, GM still only makes garbage. I will keep criticizing GM, and continue to keep my Toyota until they get things right.

But I think that day will never come, if GM still can't get crap right even after all that bankruptcy issue and all those huge recalls.

And GM should know that, they are one of so many American companies that embarrass all Americans.

randy3023 - 2/13/2015 12:11:42 PM

+5 Boost

The top reasons GM loses money:

1) Overpaid managers there have attained high-level positions without merit
2) Overspending on marketing, celebrities, TV commercials, display advertising, etc.
3) Dubious projects are frequently greenlighted which even a layperson, after TWO minutes, could predict will have NO possibility of success (such as the VOLT and ELR).
4) Redundant brands serve no purpose and erode the GM brand

mini22 - 2/13/2015 8:07:00 PM

+4 Boost

I wish Marchionne were running GM. A lot more people would be fired and the ship will be a lot tighter.

skytop - 2/14/2015 8:28:18 AM

+3 Boost

The corrupt reorganization of GM under the corrupt odumbo administration allowed the corrupt socialist union to toxify the new company. Tax payers were forced to indemnify the union and now that is biting GM in the butt, big time. The bankruptcy was phoney and manipulated for the benefit of the corrupt union who gives the little dictator odumbo hundreds of millions of campaign "donations."

joescuba - 2/14/2015 2:27:47 PM

0 Boost

Comments about unions and socialism only prove the stupidity of those people posting.
It is very clear they have no idea about the auto industry as a whole and know even less about labor Unions. Sad to see such posts here as this should be a place for people that know a little some to comment