Market share top priority, with early product launches: GM chairman
06 Aug 2009
General Motors Co's new chairman, Edward E Whitacre Jr, attended his first board of directors meeting and said the board had made some tweaks and changes and considers improving market share as its top priority.
Speaking after the meeting, Whitacre said GM was expediting the launch of new models that would hit the road sooner than earlier expected. He did not specify the brand names.
Whitacre was earlier AT&T's chairman. Most of the directors are newly appointed, with several picked up by the US government which has invested about $50 billion to restructure and revive GM. It now holds a 61-per cent stake in the company.
Whitacre said the company was off and running, and that its top priority is improving the company's market share and the number of vehicles sold.
GM's market share in July stood at 18.9 per cent (20.5 per cent last year), compared to Ford's 16.5 per cent and Toyota's 17.5 percent.
According to Whitacre, the company was going to work diligently to improve its market share.
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