General Motors Co (GM.N) executives used to boast about how frequently the company redesigned cars and trucks. Now, the automaker wants to double the lifespan of vehicle platforms as part of a broader effort to slash and redirect capital spending, GM executives said.
Starting with the new Chevrolet Cruze compact, the basic underpinnings of vehicle lines could last a dozen years or more, GM President Dan Ammann told Reuters.
The move underscores the balancing act the automaker faces in tackling conflicting challenges as the growth of auto sales in the U.S. and China slows. GM and its rivals face increasing pressure to prove they can keep core product lines fresh, meet stricter emissions and safety standards, and forge a future in ride-sharing and autonomous vehicles – all while returning more cash to shareholders.