Iococca takes a broadside at GM
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Iacocca shooting from the hip
Chrysler's former CEO, current pitchman fires salvos at General Motors' management in interview.
July 19, 2005: 9:35 AM EDT
NEW YORK (CNN/Money) - Chrysler's former boss and current pitchman Lee Iacocca is taking some shots at General Motors Corp.
In an interview with The New York Times, Iacocca, who is appearing in a series of commercials for the DaimlerChrysler (Research) unit, said that GM (Research) was foolish to have added the Hummer brand of huge Sport/Utility Vehicles and in not making more of a commitment to fuel-efficient hybrid gas/electric vehicles.
He also suggested that GM Vice Chairman Bob Lutz, who was Chrysler's president when Iacocca was its chairman and CEO, "has had enough time" leading product development at the No. 1 auto manufacturer, saying he has not made enough progress revitalizing the company's cars and trucks.
"What do they have that turns your head when it goes down the street?" he said in his interview. Lutz lost his day-to-day oversight of GM's core North American operations, as GM CEO Rick Wagoner took that role earlier this year. Lutz, who joined GM in 2001, is still in charge of product development.
Iacocca also questioned whether GM had too many brands.
"I'm trying to think what they would do for a new Pontiac or Buick," he said. "For me, honestly, they fade into the landscape."
Iacocca got his start at Ford Motor Co. and is generally seen as the father of the Mustang. He said he is not completely enamored of the new Ford Mustang but said it does make a strong statement.
"I think Ford has some more to do, beyond Mustang," he said.
Not surprisingly, he praised Chrysler's current lineup of vehicles, particularly the popular and critically acclaimed 300 sedan.
Iacocca is getting $1 million for the current run of commercials, although aspects of the deal were still being worked out.
All proceeds will go to finance clinical trials of a new approach to combating diabetes that are being run at Massachusetts General Hospital. Iacocca has been active in raising money to combat diabetes since his wife died of complications from the disease in 1983.
For more news on autos and auto manufacturers, click here.
Iacocca shooting from the hip
Chrysler's former CEO, current pitchman fires salvos at General Motors' management in interview.
July 19, 2005: 9:35 AM EDT
NEW YORK (CNN/Money) - Chrysler's former boss and current pitchman Lee Iacocca is taking some shots at General Motors Corp.
In an interview with The New York Times, Iacocca, who is appearing in a series of commercials for the DaimlerChrysler (Research) unit, said that GM (Research) was foolish to have added the Hummer brand of huge Sport/Utility Vehicles and in not making more of a commitment to fuel-efficient hybrid gas/electric vehicles.
He also suggested that GM Vice Chairman Bob Lutz, who was Chrysler's president when Iacocca was its chairman and CEO, "has had enough time" leading product development at the No. 1 auto manufacturer, saying he has not made enough progress revitalizing the company's cars and trucks.
"What do they have that turns your head when it goes down the street?" he said in his interview. Lutz lost his day-to-day oversight of GM's core North American operations, as GM CEO Rick Wagoner took that role earlier this year. Lutz, who joined GM in 2001, is still in charge of product development.
Iacocca also questioned whether GM had too many brands.
"I'm trying to think what they would do for a new Pontiac or Buick," he said. "For me, honestly, they fade into the landscape."
Iacocca got his start at Ford Motor Co. and is generally seen as the father of the Mustang. He said he is not completely enamored of the new Ford Mustang but said it does make a strong statement.
"I think Ford has some more to do, beyond Mustang," he said.
Not surprisingly, he praised Chrysler's current lineup of vehicles, particularly the popular and critically acclaimed 300 sedan.
Iacocca is getting $1 million for the current run of commercials, although aspects of the deal were still being worked out.
All proceeds will go to finance clinical trials of a new approach to combating diabetes that are being run at Massachusetts General Hospital. Iacocca has been active in raising money to combat diabetes since his wife died of complications from the disease in 1983.
For more news on autos and auto manufacturers, click here.
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