General Motors Corp. exited Chapter 11 bankruptcy after 40 days today, with chief executive officer Fritz Henderson proclaiming a "new beginning" for the once-mighty auto giant.

GM's core remaining brands - Chevrolet, Cadillac, Buick and GMC - will have a total of just 34 U.S. nameplates by 2010. The emphasis on fewer, better entries will enable the new GM to put more resources into each nameplate, resulting in better products and stronger marketing, Henderson said.

In the United States, the Chevy Camaro has surged past its rivals to lead its segment, while the new Chevy Equinox, Cadillac SRX, and Buick LaCrosse are earning strong initial reviews, Henderson said. Later this year, the Cadillac CTS Sport Wagon and GMC Terrain will debut, followed next year by the Chevy Volt, Chevy Cruze and Cadillac CTS Coupe.

"Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers," Henderson said. "Business as usual is over at GM. Today starts a new era for General Motors and everyone associated with the company. Going forward, the new General Motors is fully committed to listening to customers, responding to consumer and market trends, and empowering the people closest to the customer to make the decisions. Our goal is to build more of the cars, trucks, and crossovers that customers want, and to get them to market faster than ever before."

GM, which has been kept afloat by government loans since January, filed for bankruptcy on June 1. The Obama administration committed $50 billion to GM as part of its bailout of the auto industry.

Henderson said today the company wants to repay loans "much sooner" than their due date.

"Today we launch the new General Motors, and our promise is simple. We will be profitable, we will repay our loans as soon as possible, and our cars and trucks will be among the best in the world. We recognize that we've been given a rare second chance at GM, and we are very grateful for that. And we appreciate the fact that we now have the tools to get the job done," Henderson said.

"To our current customers, we appreciate the confidence that you have placed in us, and going forward, we'll offer you nothing less than great cars, trucks and crossovers, with unmatched customer service. To those who have supported us through this challenging time, we are deeply grateful," Henderson said. "And to those who have never tried a GM vehicle - or who have tried one and been disappointed - we look forward to the chance to win your business and earn your trust."

Edward Whitacre Jr., who oversaw the creation of the new AT&T Inc., will serve as chairman of the GM board with several new directors. Henderson will continue as president and CEO, working closely with Whitacre.