Boston, MA 08/15/2014 (wallstreetpr) – General Motors Company (NYSE:GM), a leading global automaker but also a struggling one, has big survival plans, and one of them is a line of new pickup trucks and an increased focus on Brazil. The company’s plans went public in an article by The Wall Street Journal. Shares of the automaker experienced 0.00% change in the regular trading hours but leaped up 0.65% in the post-market session.
The company is facing competition left, right and center from Ford Motor Company (NYSE:F) to Tesla Motors Inc (NASDAQ:TSLA), which styles itself with all-electric cars that resemble a smartphone on wheels. In addition to competition from rivals, General Motors Company (NYSE:GM) is also troubled with the massive recall that it has been forced to make because of product flaws, which have an adverse impact on its image.
Smaller size pickups
However, the company is looking forward to a brighter future despite the many challenges. According to General Motors Company (NYSE:GM)’s product chief, Mark Reuss, they are preparing to launch new smaller pickup trucks, which they believe will have a wider appear in the markets outside North America. The mid-size trucks are expected later this year. The development comes at a time when the company also announced nearly $3 billion in investment in Brazil, which is its anchor market in Latin America.
Brazil in focus, again
The planned $3 billion spending in Brazil was disclosed when General Motors Company (NYSE:GM)’s Chief Mary Barra met Brazil’s President Dilma Rousseff. The company said it would be bringing fresh personnel into its Brazilian operations while focusing on products that can help them win back the market share. The company has been struggling in Latin America, just like many of its other rivals. However, that is a market that it cannot afford to turn away from and that is why additional investment has been proposed.
General Motors Company (NYSE:GM) reported that it suffered a loss of $81 million in the Latin America region in its 2Q. But it remains one of its key emerging markets.
