General Motors Promotes Alan Batey - Analyst Blog

By Zacks Equity Research,

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General Motors Company ( GM ) has promoted Alan Batey, the head of U.S. sales, service and marketing for Chevy, Buick and GMC, as the global head of the Chevrolet brand. However, Batey will also continue with his former role.  

Alan Batey will be reporting to CEO Dan Akerson as the global head of the Chevrolet brand and to North American President Mark Reuss as the U.S. sales head. It is a part of the CEO's restructuring strategy and Akerson also said that the company wanted to appoint single leader to manage the brand globally. The transition may also help in Chevrolet's expansion and launch of more products.

Chevrolet is one of the world's largest car brands, selling more than 4.5 million cars and trucks in a year.  It provides customers fuel-efficient vehicles together with high performance, better design and quality. The brand witnessed strong increase in sales in Southeast Asia in May. The company sold 179,510 Chevrolet vehicles, representing an increase of 0.9% in May 2013. Retails sales improved 5.4% to 124,897 vehicles, thus recording the best retail sales month since August 2009.

General Motors also focuses on launch of new vehicles under Chevrolet brand. Last month the company showcased the redesigned 2014 Chevrolet Malibu. With the mid-sized sedan, the automaker intends to provide tough competition to Toyota Motor Corporation 's ( TM ) Camry, Honda Motor Co. 's ( HMC ) Accord and Ford Motor Co. 's ( F ) Fusion.

Recently, General Motors also launched the new Chevy Silverado pickup truck, which is more fuel efficient compared to other pickup trucks. The company also showcased the new 2014 Chevrolet Corvette at the annual auto show in Detroit. It unveiled the latest version of the iconic sports car after nine years, which is set for a commercial launch later this year.

Detroit, Mich.-based General Motors is the largest automobile manufacturer in the world and one of the 'Big Three' U.S. automakers. Among the U.S. automakers, General Motors sales went up 3.1% to 252,894 vehicles in May, driven by strong sales of Cadillac and GMC cars. Currently, shares of GM retain a Zacks Rank #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: F , GM , HMC , TM

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