GM won't show new cars in LAThu, 13 Nov 2008
GM has delayed the unveiling of two new cars the company had intended to show the press and public at the forthcoming Los Angeles auto show.
The largest US automaker will now show the production versions of the Buick LaCrosse and Cadillac CTS coupe at the Detroit auto show in January instead.
"We believe we can better capitalize in Detroit" said spokesman Scott Fosgard.
According to Fosgard, the cancellation of the unveilings is not related to the struggling automaker's record-breaking losses, and the company's own admission that it may not survive until the end of the year without government bailout. GM's burn rate is around $2.5 billion a month.
Fosgard said unveiling the new models would be futile as they would not get the coverage they deserve in light of recent reports on the auto giant's dour financial situation. "It's in our best interest to re-time our product introductions," he said.
As the Detroit auto show has already gained international status, GM has opted to unveil the new models in Detroit to get more exposure to journalists coming from overseas.
By Eric Gallina