DETROIT -- General Motors Corp. may have to scale back some fringe element product programs if the U.S. economy worsens in 2002, the company’s top executive tells Ward’s.
However, GM’s cash horde of about $11 billion should enable it to avoid eliminating or delaying major product programs. “I think we’re pretty well-positioned, at this point, our cash reserves are strong,” GM Chief Executive Rick Wagoner says. “And while much has been made of credit downgrades, those are issues that more affect (General Motors Acceptance Corp.’s) cost and source of funding rather than our ability to run the business. We think we can move through any downturn that we foresee which doesn’t significantly alter product program spending.
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The Buick GSX, of both 1970 and ’71, was not so much a car as it was a scream for attention. Despite excellent performance from the 1965-’66 Gran Sport Skylark, sales of the Buick musclecar had been hobbled by Buick's stodgy image. Buick loosened its collar a bit in 1967, when it replaced the old nailhead V8 in the Skylark with a more modern 340-hp 400 cu.-in., to create the GS400. "Your father never told you there'd be Buicks like this," read one ad for the car.
The following year, the GM intermediates got new clothes. Compared to the new Chevelle SS396, Pontiac GTO and Olds 4-4-2, the Skylark GS400 looked, well, stodgy. Sales of the GS400 slipped a bit to 13,197 from 13,813 in 1967. The GTO, meanwhile, sold 87,684, the Chevelle SS396 did 62,785 and the 4-4-2 scored 33,607.
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