I think this is tough medicine for everybody involved with our company, ... I don't want to make this sound like an easy call for us or for them, but this is our call. We are responsible for running this part of the business.
The North American market is red hot and brutally competitive.
The results show that our focus on cost reduction and success in the marketplace lead to continued strong financial results.
During his 36-year career at GM, Mike has made a tremendous contribution to GM in a broad range of assignments, ... And, he's been a long-time advisor and friend to me and many others in the company. We thank him and wish him well.
There is a lot of work to do in this company and it makes sense to spread it out, ... We very much wanted Jack to stay around and support us.
I'm not conceding anything to anybody. We respect our competition around the world, and we're realistic about our challenges and opportunities. We know we have to earn the right to maintain our global sales leadership, and we're doing that day after day.
At this point we don't see big concerns, ... We're looking for some big sales over the next 30 days or so.
Why is every year the industry [sales] figure bigger than what we tell you it's going to be at the beginning of the year? ... Obviously the traditional models are not working. Is that going to continue indefinitely? I don't know. I suspect so. Why is it up? A lot of wealth in the U.S. economy [and] vehicle prices relative to that wealth are the lowest they've been in 20 or 30 years.
While it may have taken some time to reach this solution, I think it was time very well spent.
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