GM's Mark Reuss talks about auto industry's future
The Chevy Volt won the "Car of the Year Award" at the Detroit Auto Show. White asked Reuss why the auto company has put so much into the development of the Volt.
"If you look at the electric and hybrid car piece of the industry, it's been steadily gaining in popularity as time goes on. But what does it take to go beyond hybrid? To go beyond the traditional electric car and produce something that really has an exteded range with the gasoline and the battery on board, so you don't have to worry about an electric engine on board?"
Reuss said they accomplished that with the development of the Volt, and that GM remained focused on the Volt through some rough times.
When asked about the prospects for the new car market, Reuss was upbeat because he says there are a lot of people driving older cars, so there's "pent up demand" for new cars:
"And the reason why I say this is because if you look at the cost to operate some of the newer vehicles from a fuel efficiency standpoint, they're much, much lower than some of the vehicles these people are forced to hang onto."
Reuss said, in the past, the company has been good at engineering and building trucks and some of the "truck variants," but today they're re-focusing their efforts on smaller cars:
"We have refocused with the launch of things like the Volt, and the Sonic for Chevrolet, and then the Verano for Buick. We've really refocused our efforts into excellence in the small and compact car markets. And you're going to see those as really good alternatives in the market as we go forward."
Reuss was asked how he views the automotive industry today. Here's his response: