Chrysler was put through a similar process beginning a month earlier and was successfully able to merge with Fiat and leave bankruptcy after a mere 42 days.
GM's CEO Fritz Henderson told reporters at a conference that presently he expects GM will successfully complete it's bankruptcy process "according to plan."
"We said 60 to 90 days, but it could be outside that," Henderson cautions. "I'm not making another prognostication at this point."
So far the risks of bankruptcy on sales haven't materialized. In fact, he noted June sales were actually up compared to May, and have been increasing each month since March. Henderson attributes this in part to the fact that the federal government has backstopped vehicle warranties.
Henderson also said he expects oil prices to reach the $100 to $130 barrel range within the next several years and stay high. "We have to have a view," he said. "It's important because volatility is going to be permanent, and the consumer actually has changed how they look at energy."
"We have to make vehicles that are beautiful, light, safe and meet all the requirements of society and are increasingly fuel efficient," he said.
GM has plans to offer 14 hybrid vehicles by 2012 including the use of second generation lithium-ion BAS systems, 2-mode and plug-in 2 mode systems, and up to 3 Voltec models.
Source ( Detroit News )