The move quickly ignited the interest of Renault and its partner Nissan, although other makers said they would not join, preferring to stay independent. GM's president and chief operating officer Rick Wagoner predicted savings of 10% to both manufacturers and suppliers. Asked by how much new car prices would tumble, he was more reserved, saying: 'How much will go into lower list prices, more features, product improvements or the bottom line I don't know.'
Ford of Europe chairman Nick Scheele said it was 'very very difficult' to say if the move would result in price reductions. Shinichi Kato, executive vice-president research and development of Toyota Motor Corporation, said it had 'no plans' to join the venture. And Volkswagen said it would not enter because of fears over losing competitive advantage.