GM Cancels LA Press Conference

General Motors today said that its news conference scheduled for the Los Angeles Auto Show has been canceled due to a so-called bad timing in the context of poor financial results recently reported by the American carmaker. Some people said this is an obvious “cost-cutting move”, but it's more likely to represent a market strategy set by GM in order to avoid questions regarding its financial situation or future plans.

"The timing's not good for us right now given all the other news. You honestly have to ask yourself is the news you're going to make going to break through the clutter. The automotive and business media attention is on what's going on in Congress and I just have my doubts that the typical auto show news is going to be as newsworthy as what they're debating,” GM spokesman Scott Fosgard was quoted as saying by Detroit News.

But even so, General Motors will still present the Saab 9-X Air concept as well as the refreshed Chevrolet Volt electric model, the spokesman confirmed. General Motors recently announced that Buick LaCrosse won't be unveiled at the Los Angeles Auto Show as initially planned.

Chrysler LLC shares the same faith as GM, but Frank Klegon, executive vice president of product development, will have a few interviews, the same source added.

General Motors is surely one of the most affected companies when it comes to loses caused by the global economic crisis, with revenues down $2.5 billion in the third quarter. The American carmaker's losses since 2004 now total $73 billion, with chances to become bankrupt next year in case no private or public funds are received.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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