CNN: GM CEO calls U.S. mergers unlikely - Ford Inside News Community
 
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post #1 of 2 (permalink) Old 03-08-2007, 07:34 AM Thread Starter
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CNN: GM CEO calls U.S. mergers unlikely



GM CEO calls U.S. mergers unlikely
Wagoner tells newspaper that auto industry has glut of production capacity.


March 8 2007: 6:19 AM EST

NEW YORK (Reuters) -- General Motors Corp. Chief Executive Rick Wagoner said he does not expect a consolidation in the U.S. auto industry in the near term despite the intense pressures from fierce competition and excess production capacity, The Wall Street Journal reported.

The U.S. auto industry has enough plants to produce more vehicles than it sells for at least 10 years, Wagoner said in an interview at the Geneva auto show. "What's going to make it go away?" he said in the Journal.


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post #2 of 2 (permalink) Old 03-08-2007, 01:23 PM
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