General Motors drove out of bankruptcy protection on Friday, with its top executive saying it must pay more attention to responding to customers.

The automaker's rapid relaunch came just 40 days after going into creditor protection. One bankruptcy expert called GM's 40-day case the fastest ever for a company of its size.

GM is now a smaller company that is majority-owned by the U.S. government. With a drastically reduced debt load and new ownership, the company also has fewer brands. The Pontiac brand is disappearing, while the company plans to sell off Saab, Saturn, Hummer and its European-based Opel operations.

At a news conference in Detroit, GM CEO Fritz Henderson spoke about the relaunch of the company. He said the company's new focus on four core brands - Chevrolet, Cadillac, Buick and GMC - will allow GM to focus its resources in fewer places.

Henderson told reporters that the company plans to introduce 10 new models in the United States and 17 new models outside the U.S. over the next 18 months.

The GM chief also said the company is eyeing new ways of selling its products, including possible online auctions in partnership with eBay.

July 10th, 2009

SOURCE: CBC