GM CEO Tackles Tough Questions on Sale of Hummer to Chinese

When asked how it was possible for a Chinese company with no prior history or experience in personal vehicle production to snag Hummer, Henderson responded: "The potential buyer Sichuan Tenzhong offered the best overall alternative, and we did not have [a] broad portfolio of other buyers!"

He also said there were "no such plans" for General Motors to maintain a minority stake in Hummer.

This week's announcement about the memorandum of understanding to sell Hummer to the Chinese firm generated several questions, including whether Henderson expects India and China to "change the order in the global auto industry."

"China may (and unfortunately) be the largest market in the world this year," wrote Henderson, relying heavily on parenthetical asides. "(We would prefer that it be the second largest behind a healthy U.S.)"

The product questions were varied and ranged from whether Chevrolet will build an electric Camaro ("Not likely," came the reply) to whether the Pontiac G8 GXP will live on as a Chevrolet or an entry-level Cadillac ("No," wrote Henderson). "We will bring the [Chevrolet] Spark to the U.S. market in 2011," Henderson wrote.

The Chevrolet Volt continued to be a source of concern to questioners. When asked if GM's bankruptcy filing had changed the timeline for the launch of the Volt, Henderson responded: "The simple answer is no. Do not expect any impact and the team is doing a fine job managing the program with our suppliers."

Later, he added that the Volt "will not be an inexpensive vehicle in its first generation, but it will be extremely affordable relative to a Tesla. While we have not made final decisions on pricing, you should be thinking about $40K ish, with a $7,500 available tax credit."

Henderson confirmed that GM has "plans for a performance version of our four-cylinder Ecotec engine" in the Buick LaCrosse. He also said the Cadillac SRX "will only have 6's." He held out no hope to fans of the Saturn Sky and Pontiac Solstice, saying that "we intend to complete production later this year and phase out as part of our brand actions on Pontiac and Saturn."

But he reaffirmed that Corvette will live on.

"This iconic brand will retain its powerful place within the new GM," Henderson wrote.

Inside Line says: GM's top dog offers some interesting product updates, but an electric Camaro isn't in the mix. — Anita Lienert, Correspondent