(Adds executive ruling out GM bankruptcy, paragraph 15) DETROIT, March 23 (Reuters) - General Motors Corp. , which issued a shock profit warning last week and has been losing market share, may phase out one of its weaker car brands if sales fail to meet projections, company Vice Chairman Bob Lutz said on Wednesday. GM's Buick and Pontiac are both "damaged brands" due to lack of investment over the years, and GM is working to correct that with an array of new vehicles coming to market, ...
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