On First Anniversary of GM Bankruptcy, Edmunds.com Retrospective Tells Unexpected Success Story
SANTA MONICA, Calif. — June 1, 2010 — The bankruptcy of General Motors may turn out to be one of the best things that ever happened to the company, according to Edmunds.com, the premier online resource for automotive information and home to a new month-long series about the new GM in collaboration with sister Web sites InsideLine.com, AutoObserver.com and GreenCarAdvisor.com. The series can be found at http://www.autoobserver.com/gm-bankruptcy.html.
"With the company much leaner and more focused it is making a profit even in today's tough market," stated Edmunds.com CEO Jeremy Anwyl. "This bodes well for GM's profit potential for when the market fully rebounds."
"GM introduced some excellent product to the market over the past year, and we must remember that these vehicles were in process for at least three years — well before the financial collapse required the company to beg for help," commented Karl Brauer, Editor at Large at Edmunds.com. "This suggests that the organization is healthy beneath the surface."
"GM must maximize its second chance by continuing to turn out great products at a profitable level without getting distracted by egoistic pursuits," asserted Edmunds.com Senior Analyst Jessica Caldwell. "It makes no sense to vie for the title of world's biggest automaker if that puts them back into the hole from which we just rescued them."
"In the future the automaker must return to public ownership, repay taxpayers, fund union health care and earn profits — not easy tasks," reported Edmunds.com Senior Analyst Michelle Krebs in her report on AutoObserver.com. "Going forward General Motors needs strong, stable leadership that assures the American public that the company will remain on track."
About Edmunds.com, Inc. (http://www.edmunds.com/about/)
Edmunds.com Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive information, launched in 1995 as the first automotive information Web site. Its mobile site, accessible from any smartphone at www.edmunds.com, makes car pricing and other research tools available for car shoppers at dealerships and otherwise on the go. InsideLine.com is the most-read automotive enthusiast Web site. Its mobile site, accessible from any smartphone at www.insideline.com, features the wireless Web's highest quality car photos and videos. CarSpace is the most established automotive social networking Web site. AutoObserver.com provides insightful automotive industry commentary and analysis. Edmunds.com Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit. Follow Edmunds.com on Twitter@edmunds and fan Edmunds.com on Facebook at http://www.facebook.com/edmunds.