Bob Lutz, former vice chairman of General Motors and author of Car Guys vs. Bean Counters: The Battle for the Soul of American Business, argues American industry needs to focus on products, not share price.

The American auto industry traveled a bumpy road in recent years. The big three auto makers watched their profits fall throughout the Great Recession. The Troubled Asset Relief Program saved Chrysler and General Motors from total ruin, but the American car industry was suffering long before the recession began. Bob Lutz was the vice chairman of General Motors from 2001 to 2010. His new book is "Car Guys vs. Bean Counters." He analyzes the auto industry and the culture of business.

On Friday General Motors emerged from bankruptcy after only forty days in Chapter 11. Now they’re trying to project the image of the “new” GM. What new cars will they roll out—and what are the company's chances of actually making a profit? Joining The Takeaway from Detroit is Bob Lutz, GM’s Vice Chairman. Lutz began his career in the auto industry in 1963 and he’s in charge of brands, marketing, advertising and communications for GM.
Click through for a transcript of our discussion with Bob Lutz.