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GM scraps plans for news conference at upcoming L.A. Auto Show
Chrysler LLC also is not having a press conference at the show, but Frank Klegon, executive vice president of product development, is scheduled to be there. Chrysler is not unveiling any new products at the show. GM and other Big Three automakers are pushing Congress for additional federal funding to weather what appears to be a protracted contraction in the market. Congress has authorized $25 billion in low-cost loans to help the industry produce more fuel-efficient vehicles, but Detroit's automakers are seeking an additional $25 billion in emergency bridge financing and up to $25 billion more to help them fund union-managed trusts to pay for retiree health care. General Motors Corp. lost $2.5 billion in the third quarter, bringing its losses since 2004 to about $73 billion. The automaker has cautioned that it might run short of cash next year unless it obtains private or public funds or the economy improves. GM will still show the Saab 9-X Air concept vehicle and Chevrolet Volt electric extended-range vehicle. The automaker earlier dropped plans to unveil its Buick LaCrosse in L.A. GM will still have vehicles on display during the auto show and is using the same amount of floor space, Fosgard said. The public 'probably won't even notice a difference,' he said. You can reach Robert Snell at (313) 222-2028 or rsnelldteom.