Filed under: Products and services, General Motors (GM)
General Motors (NYSE: GM) has had a rocky 2007, but with the cost reductions and restructuring the automaker has reached, 2008 looks much rosier. Indeed, GM even made a quarterly profit in 2007 amid sluggish U.S. sales, out-of-control gas prices, consumer credit nightmares and a housing market that had its bubble popped.
But don’t tell GM designers and engineers about 2007, as they’re too busy racking up awards left and right. At the North American Auto Show next month, the automaker is in a strong position to win several awards, including “Car of the Year” and “Truck of the Year.”
The candidate list out this week has GM in several top spots, with the company taking two out of three spots in both of those categories. Not that there is a large amount of competition in the full-size truck market (Ford, Toyota and Nissan come to mind), but winning the “Car of the Year” would be quite an achievement for GM.
The passenger car market is extremely tough with Honda’s Accord and Toyota’s Camry continuing to rack up sales — and that’s just one segment. Chevy’s new Malibu, though, is currently being advertised as a direct (and better) competitor to that sedan stalwart, the Honda Accord. Indeed, the nominees for 2008 North American Automobile of the Year are the Cadillac CTS, Chevrolet Malibu and Honda Accord. Can GM pull ahead with the new Malibu? We’ll find out in January.
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