Boston, MA 12/24/2013 (wallstreetpr) – It is an old tradition for automakers, to keep their production plant idle during festive seasons like this. The production facilities are usually shutdown until around January 1 or 2. So, as usual, General Motors Company (NYSE:GM) will keep its plants idle. However, this time around the company is shutting down some of their facilities a little longer by about a week. These plants include, the one at Fairfax, which builds Buick LaCrosse sedans, and Chevrolet Malibu, the facility at Oshawa, Ontario, which builds Cadillac XTS, Buick Regal and Chevrolet Camaro.
Besides taking Christmas and New Year break, closure of plant operations also allow automakers to avoid piling of up vehicles dealer’s lot, or basically, avoiding excess inventory. With regard to the extended closures in particular plants, General Motors Company (NYSE:GM) could be making adjustments, which will allow production in-line with the annual plan.
Remarkable year
General Motors Company (NYSE:GM) is exiting 2013 after attaining some remarkable achievements. The company was able to clear its debt with the U.S. government. The debt resulted on account of its bailout during the financial crisis that nearly took the company to the rags.
As soon as General Motors Company (NYSE:GM) announced the settlement of its debt with Fed, it also announced that Ms. Mary Barra will be its next Chief Executive Officer starting January, 2014. The current CEO Mr. Daniel Akerson is expected to retire around that time.
Mocking
These two happenings are remarkable in every sense of the word. General Motors Company (NYSE:GM) had been routinely mocked as ‘Government Motors’, as it struggled to dislodge itself from the Fed bailout money, at a time when other companies that had received the same help, have cleared dues to Fed. The company now hopes to retool itself for more aggressive business ventures. Already, it can be seen expanding its international operations.
As for the case of Ms. Barra, the company goes down in history as the first major automaker, and just among the few Fortune 500 companies with women at the helm. This fete is expected to attract some business clout for General Motors Company (NYSE:GM).
