Word: subcompacts
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...most ambitious of the efforts was started three weeks ago by General Motors. The giant automaker launched Saturn Corp., a separate company apart from the main GM structure, to produce a new subcompact car, starting in 1987. General Motors Chairman Roger Smith said that he wanted the new subsidiary to be free of the mother company's entrenched procedures. Saturn will have its own engineering and design staffs and its own contract with the United Auto Workers. It is to be a test track for new ways of making, selling and servicing cars. Saturn will, in effect, be an entrepreneurial...
...week another one was added. Chevrolet, Pontiac, Oldsmobile, Buick and Cadillac suddenly got a baby brother. In GM's boldest plan yet to counter Japanese imports, Chairman Roger Smith announced that it would set up an entirely new company, called Saturn Corp., to produce its long-planned line of subcompact cars. Smith called Saturn "the key to GM's long-term competitiveness, survival and success as a domestic producer...
...that because of higher costs and a foreign-exchange rate that favors Japanese exports to the U.S., it is now almost impossible for an American auto company to build a car in the U.S., sell it for less than $7,000 and make a decent profit. GM imports some subcompact models for sale in the U.S. from Japan's Suzuki and Isuzu, and it has plans to bring in more from its South Korean partner, Daewoo. GM is also manufacturing small cars in a venture with Toyota in Fremont, Calif...
...models are in short supply, since Japanese manufacturers have agreed to quotas on their shipments to the U.S. That gives dealers a chance to make tidy profits. Kramer Motors Honda in Santa Monica, Calif., for example, adds a $2,000 markup to the $6,300 sticker price of the subcompact Honda...
...effort to broaden its market and appeal to younger buyers, Cadillac launched the subcompact Cimarron in 1981. More like a Chevrolet than a Cadillac, the $13,000 vehicle has failed to excite luxury-car buyers. Now General Motors is turning to a leading Italian car stylist in hopes of developing a sporty new Cadillac that may fit in better with the division's sumptuous line-up of Fleetwoods, Coupe DeVilles and Eldorados (sticker prices: up to $35,000). Cadillac has asked Sergio Pininfarina, 57, to design a two-seat convertible, named the Callisto after one of Jupiter...