GM: Company likely to outperform viability plan estimates

Posted on Friday, November 6th, 2009 at 12:52 PM EST.

General Motors Co. is outperforming the targets set in its earnings viability plan outlined in April, CEO Fritz Henderson said yesterday, the Automotive News reported.

Henderson declined to list the areas in which GM is outperforming but said the company would provide details in its third-quarter earnings report later this month, the trade paper said. “I’m not going to get into whether we’re generating cash or not generating cash, but I would certainly say the situation is more stable than what the outlook was even just two months ago,” Henderson said during a media briefing, the Automotive News said.

Prior to filing for U.S. bankruptcy protection in June, GM presented a viability plan to the government, the paper said. The plan assumed GM would have a 19.5 percent share in 2009, with that share stabilizing in the 18.4 to 18.9 percent range in subsequent years. That would come on the back of four core brands—Chevrolet, Cadillac, Buick and GMC—rather than eight brands, the story said. (Automotive News)

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