Going through the hardest times in its history, GM has announced that it cancelled all plans for showing any new vehicles or holding any press conferences at the upcoming LA Auto Show. The company was planning on announcing several new cars, but the its financial crisis forced them to delay all press events until January, at the Detroit Motor Show. Still, the GM stand won’t be empty, with the production version of the Chevrolet Volt making an appearance, plus several new hybrids. Last week, GM, who, along with the other two Detroit carmakers demanded a $25 billion federal bailout, announced that it may not have enough financial resources for operations by the end of the year and the situation might get really dramatic by June 2009.
Source: Detroit Free Press