Thursday, November 18, 2010

Car of the year awards and the GM IPO: coincidence or press campaign?

It may be purely coincidential.

Motor Trend announced its 2011 Car of the Year -- the new Chevy Volt -- on Tuesday, November 16, just two days before General Government Motors' IPO.  The award was given fulsome treatment by the magazine's editors: "This automobile is a game-changer."

The announcement appears to be coincidental when one notes that the Motor Trend 2010 Car of the Year award (the Ford Fusion) was announced on November 17, 2009; and the 2009 award winner (the awesome Nissan GT-R budget supercar) was revealed on November 18, 2008.

Yet the timing seems just a bit too convenient.  Conspiracy theorists might be left to wonder:  Did Motor Trend signal to GM before the IPO timing announcement that the Volt would come out on top or at least be a finalist in its traditional mid-November award?  Did Motor Trend's award timing strongly enter into GM's scheduling of the IPO?

After all, in late July a GM spokeswomen said:
We’ll launch an I.P.O. when the conditions are right and the company is ready.
Then in the late summer there was controversy over the possible timing of the IPO in October sometime before the November 2nd congressional elections.

In fact, it was on Election Day when the IPO date was set for November 17, then later revised for today.

* * * 

Also, coincidentally (or not) announced today on the same day as the IPO: the Green Car Journal's naming the Chevy Volt as the 2011 Green Car of the Year.

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