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Mon January 11, 2010
Lutz: GM should be 'solidly profitable' down road
DETROIT – A top executive for General Motors Co. says the automaker should be "solidly profitable" when demand for new cars and trucks rebounds to normal levels.
GM Vice Chairman Bob Lutz told the Society of Automotive Analysts on Sunday that the company has made strides only months after it restructured through more than $50 billion in federal aid and a government-led bankruptcy.
His prediction follows statements last week by chairman and interim CEO Ed Whitacre Jr. Whitacre said GM could be profitable this year.
Lutz also says GM is at least two years from production of the Cadillac Converj, a luxury version of the Chevrolet Volt hybrid. The Volt is to be released later this year.
Lutz spoke on the eve of the Detroit auto show.