General Motors' CEO Wants Cadillac To Compete GloballyVW Staff
General Motors’ CEO, Dan Akerson, wants the Cadillac brand of cars to compete on a global level.
In an interview with the Wall Street Journal, Akerson discussed the future of the economy and the auto industry.
“I would like to see Cadillac become a global brand,” he said.
However, for Akerson’s dream to come true, Cadillac will need to compete on the same level as the other brands currently dominating the luxury market; namely BMW, Audi, and Mercedes-Benz.
In order for General Motors Company (NYSE:GM) to become a leader in the luxury market, the automaker is pinning its hopes on the introduction of their new ATS – a sedan, which GM’s Vice President of Marketing, Don Butler, says is made to compete with the BMW 3 series; the top car in the segment.
Besides talking about Cadillac’s latest offerings, Akerson also spoke about his ambitions for General Motors Company’s (NYSE:GM) other brands.
“I would like to see Opel cut its losses this year by anywhere from one-third to one-half. I would like to see Chevrolet become a true global brand. It is number four in the world today. I think it has to move up. I am not going to tell you where I think it ought to be, but I am not satisfied with fourth place. I would like to get to investment-grade rating this year. I would like to purchase the remaining shares, or have the government exit in one form or another. It is pretty ambitious for ’13 going into ’14.”
Akerson also added that he drives a Volt, and his wife drives a SRX. He also said he owns a Buick Lacrosse, and affectionately described it as “one of the best cars we make.”
General Motors Company (NYSE:GM)’s stocks were up by 1.33 percent today, valued at $29.77 per share.