But GM quickly launched zero-percent financing when it looked as if the vehicle market was sliding and agreed to buy key assets of Daewoo Motor Co. as part of a global alliance strategy.
GM CEO Rick Wagoner will be a keynote speaker at the opening-night dinner of the 2002 Automotive News World Congress on Jan. 14.
The theme of the 2002 congress is "Meeting the Challenge of a Connected World. "Joining Wagoner as keynote speaker will be BorgWarner Inc. CEO John Fiedler, who faces different
The biggest is maintaining BorgWarner's strong financial position in the face of price cuts demanded by automakers and the uncertainty of short-term auto production. A long-term challenge for BorgWarner, which supplies transmissions, engines and powertrain assemblies to automakers, is to improve fuel efficiency and reduce emissions by using electronics in turbochargers and transmissions.
Fiedler, who is expected to retire in 2003, joined BorgWarner as president and COO in 1994. In 1995 he was named president and CEO and in 1996 became chairman.
Before joining BorgWarner, Fiedler spent 29 years with Goodyear Tire and Rubber Co, where he was executive vice president in charge of North American Tires.
Wagoner began his GM career in 1977 as an analyst in the Treasurer's Office in New York. He held a variety of financial positions with GM in Brazil, Europe and Canada before returning to the United States as CFO in 1992. He was executive vice president of GM and was president of North American Operations from 1994, and in 1998 became president and COO of GM. Wagoner became president and CEO on June 1, 2000.
The Automotive News World Congress will be Jan. 14-17 at the Hyatt Regency Dearborn in Dearborn, Mich.