FOR IMMEDIATE RELEASE
New GM Emerges From Bankruptcy; Edmunds.com Comments
SANTA MONICA, Calif. — July 10, 2009 — A new General Motors emerged from Chapter 11 bankruptcy today as what is promised to be a leaner, greener car company. In addition to announcing the formation of the new, government controlled GM, it announced a plan for how the company expects to become profitable, focusing on customers, cars and culture.
"In recent years, GM has been burdened by its history, making it almost impossible to be truly competitive. This government supported bankruptcy, while controversial, has created an opportunity — but not a guarantee — of success for the new GM." said Jeremy Anwyl, CEO of Edmunds.com.
"GM is fortunate to get another shot, most likely its last one," said Michelle Krebs, Sr. Editor, Edmunds' AutoObserver.com. "Its biggest challenge remains the same one it has faced of late; that is, convincing consumers — now also GM's reluctant shareholders — that the company truly is changing and understands what type of vehicles the marketplace demands."
For more up to the minute information on industry news or the latest happenings with Chrysler and General Motors, visit Edmunds' AutoObserver.com at www.autoobserver.com. For additional information on Cash for Clunkers, dealership closings and other news, visit Edmunds.com's Industry News for Car Shoppers at http://www.edmunds.com/industry-car-news/.
Edmunds.com spokespeople (including in Spanish) are available for interviews in Edmunds.com's television studio in its Santa Monica, Calif. headquarters.
Available spokespeople include:
- Jeremy Anwyl, Edmunds.com CEO (Los Angeles)
- Michelle Krebs, Edmunds' AutoObserver.com Senior Editor (Detroit)
- Jesse Toprak, Edmunds.com Senior Analyst (Los Angeles)
- Jessica Caldwell, Edmunds.com Analyst (Los Angeles)
- Bill Visnic, Edmunds' AutoObserver.com Editor (Pittsburgh)
- Kevin Smith, Edmunds.com Editorial Director (Los Angeles)
- Karl Brauer, Edmunds.com Editor In Chief (Los Angeles)
- Kattya Nesen, Edmunds.com Spanish Analyst (Los Angeles)
About Edmunds Inc.
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.