GM, headed by Dan Akerson, got good news last month: Moody’s, whose CEO is Raymond McDaniel, has officially lifted the automaker to a Ba1 investment grade credit rating. What does that mean for the maker of the Chevrolet Volt? Essentially, the raised rating shows that GM’s credit profile has improved and that they are now in a more competitive position.
And after nearly going bankrupt in 2009, that’s a very good thing. GM was able to repurchase about $2.1 billion of preferred stock from the U.S. Treasury Department, and the motor company’s future is looking brighter than ever.
GM has put a focus on making more environmentally friendly vehicles in recent years. This is evidenced by their many fuel-efficient vehicles, as well as by their ventures into hybrid and electric vehicles. The Chevrolet Volt (94 MPGe electric; 35 city; 40 hwy mpg gas) is an electric vehicle with gasoline-powered generators available for long road trips. GM also released a hybrid Silverado pickup, Buick LaCrosse and Regal, and Chevy Malibu Eco.
According to GM’s website, they are “consistently improving gasoline-powered vehicles with technologies like direct fuel injection, active fuel management, variable valve timing and turbocharging.” They are also putting a focus on “mass reduction, aerodynamics, lightweight materials, tire construction and other technologies” for more efficient vehicles.
Hopefully, the new credit upgrade for GM will further promote new green developments within the company. What do you think of GM as a “green” car company?