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Motor Authority - blog Tag: Canada

  • Canada’s HTT Plèthore LC-750 Supercar En Route To Frankfurt

    Canada’s HTT Plèthore LC-750 Supercar En Route To Frankfurt September 9th, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, September 9th, 2009 Viknesh Vijayenthiran 5 Comments

    Canada’s HTT Plèthore LC-750 Supercar En Route To Frankfurt

    When it comes to exotic supercars, Canada doesn’t typically rank high on the list of countries that manufactures them. There is, however, at least one interesting performance machine from up north: the Plèthore LC-750, which is scheduled to make its official debut next week at the 2009 Frankfurt auto show.

    The creation of HTT Technologies and the brainchild of Luc Chartrand, who first set out to build his very own supercar back in 1995, the Plèthore LC-750 is still in prototype form but is expected to go on sale in Europe sometime next year.

    The vehicle features a mid-engined layout with power coming from the Corvette ZR1’s...

    When it comes to exotic supercars, Canada doesn’t typically rank high on the list of countries that manufactures them. There is, however, at least one interesting performance machine from up north: the Plèthore LC-750, which is scheduled to make its official debut next week at the 2009 Frankfurt auto show. The creation of HTT Technologies and the brainchild of Luc Chartrand, who first set out to build his very own supercar back in 1995, the Plèthore LC-750 is still in prototype form but is expected to go on sale in Europe sometime next year. The vehicle features a mid-engined layout with power coming from the Corvette ZR1’s supercharged 6.2-liter LS9 V-8. HTT Technologies has turned up the performance, however, extracting 750 horsepower and 655 pound-feet of torque from the potent powerplant. As for dimensions, the car is 181 inches long, 89 inches wide, 45 inches high and rides on a 115 inch wheelbase. It’s curb weight measures in at only 2,535 pounds--about the same as a Mazda MX-5. Open up the Lamborghini-style scissor doors and step into the carbon-fiber bodywork and the first thing you will notice is the car’s centrally located driver’s seat, the same set-up as in the McLaren F1. Leather and more carbon-fiber abound on every surface, and are joined by two reversing cameras, a 7-speaker stereo and satellite navigation as part of the options list. If you can’t make it to Frankfurt to see the car in person next week, it will also be making a showing this November at the SEMA auto show in Las Vegas. Read More

  • GM gets 5 new board members appointed by U.S., Canadian governments

    GM gets 5 new board members appointed by U.S., Canadian governments July 25th, 2009 ByRalph Hanson Ralph Hanson, Author, July 25th, 2009 Ralph Hanson 1 Comment

    GM gets 5 new board members appointed by U.S., Canadian governments General Motors' recent bankruptcy proceedings have seen the company transformed as it leaves behind failing assets, and according to the company these changes have also been reflected through a restructured board of directors. Five new members have been added to the board following the bankruptcy, with major stakeholders being given discretion to hire new board members depending on the size of their stake.

    For the U.S. Treasury, which now owns roughly 68% of GM, the government department was able to select 4 of the new 5 board members. The Treasury appointed Daniel F. Akerson, David Bonderman, Robert D. Krebbs and Patricia Russo as their... General Motors' recent bankruptcy proceedings have seen the company transformed as it leaves behind failing assets, and according to the company these changes have also been reflected through a restructured board of directors. Five new members have been added to the board following the bankruptcy, with major stakeholders being given discretion to hire new board members depending on the size of their stake. For the U.S. Treasury, which now owns roughly 68% of GM, the government department was able to select 4 of the new 5 board members. The Treasury appointed Daniel F. Akerson, David Bonderman, Robert D. Krebbs and Patricia Russo as their designated board members for the new company. Akerson is a director at the Carlyle Group, a private equity firm based in Washington D.C. that is ranked as the world's largest. Meanwhile, the Canadian government also has a stake in the new GM, and although it is not as sizable as the U.S. Treasury's, its 11.7% stake affords the Canadians a spot on the board to designate someone of their own choosing, which in this case was Carol Stephenson, a business school dean and director of ING Canada. According to GM, there will be a total of 13 directors on the board, including the 5 new additions that will join current board members such as CEO Fritz Henderson and Kent Kresa. Each of the non-GM executives will be paid $200,000 annually for their services. Read More

  • Lexus wants to build RX 450h hybrid in Canada?

    Lexus wants to build RX 450h hybrid in Canada? June 29th, 2009 ByJames Martinez James Martinez, Author, June 29th, 2009 James Martinez 0 Comments

    Lexus wants to build RX 450h hybrid in Canada? The RX line of SUVs has been Lexus' best-selling luxury utility vehicle since its launch in 1998, and the new generation takes the vehicle into a larger, more powerful realm, while at the same time adding new efficiency-enhancing measures in the hybrid model. Currently, the RX SUV range is manufactured in Japan but it’s been speculated recently that Lexus is considering building the RX 450h petrol-electric hybrid in Canada.

    During a press event, a Lexus executive Paul Williamsen said the first hybrid built outside of Japan will go into production this summer in Ontario, Canada, reports Automotive News. Williamsen is the national... The RX line of SUVs has been Lexus' best-selling luxury utility vehicle since its launch in 1998, and the new generation takes the vehicle into a larger, more powerful realm, while at the same time adding new efficiency-enhancing measures in the hybrid model. Currently, the RX SUV range is manufactured in Japan but it’s been speculated recently that Lexus is considering building the RX 450h petrol-electric hybrid in Canada. During a press event, a Lexus executive Paul Williamsen said the first hybrid built outside of Japan will go into production this summer in Ontario, Canada, reports Automotive News. Williamsen is the national manager of Lexus College. He creates dealer courses on such topics as Lexus product knowledge and customer satisfaction. However, Toyota spokesman Curt McAllister denied the claims, stating that “Lexus does not have any plans to build the RX hybrid in Canada”. Other details suggested by Williamsen was that Lexus originally planned to produce hybrid powertrain components in North America for the RX and other Toyota and Lexus hybrids but the plans were put on indefinite hold because of Toyota's record losses as well as the cancelation of plans to produce the Toyota Prius in Tupelo, Mississippi.2010 Lexus RX Read More

  • GM to close 42% of Canadian dealer network

    GM to close 42% of Canadian dealer network May 20th, 2009 By Nelson Ireson Nelson Ireson, Author, May 20th, 2009 Nelson Ireson 0 Comments

    GM to close 42% of Canadian dealer network The symptoms of America's ailing carmakers don't recognize borders, and no nation is more keenly aware of that fact than Canada. That's doubly true after today's announcement of General Motors' planned closure of 42% of the company's Canadian dealerships.

    In all about 300 dealers will be shuttered. Like their far more numerous American counterparts, the axed Canadian dealers will have until the expiry of their franchise agreements in October 2010 to liquidate inventory and other holdings.

    The dealership cuts were explained as a necessary reduction, focused largely on over-saturated urban markets like Toronto.

    "Due to the unique aspects... The symptoms of America's ailing carmakers don't recognize borders, and no nation is more keenly aware of that fact than Canada. That's doubly true after today's announcement of General Motors' planned closure of 42% of the company's Canadian dealerships. In all about 300 dealers will be shuttered. Like their far more numerous American counterparts, the axed Canadian dealers will have until the expiry of their franchise agreements in October 2010 to liquidate inventory and other holdings. The dealership cuts were explained as a necessary reduction, focused largely on over-saturated urban markets like Toronto. "Due to the unique aspects of our Canadian dealer network, we have focused our network rationalization efforts on key urban markets in an effort to achieve a viable network configuration all across Canada. The end result in Canada will be a more competitive dealer network with higher volumes, while continuing to maintain the strongest and broadest dealer network in the country better equipped to serve GM customers," the Canadian arm of the company said in a statement. Toronto alone currently has 34 dealerships, a number that's far too high according to Montreal GM dealer Paul Lamoureaux, who also predicted Vancouver would be hit hard by the closures. "Closing all these dealerships is bound to hurt sales," he told Bloomberg. "You can't think people are going to travel 50km (30mi) to buy a new car." The Canadian closures are part of GM's overall plan to get its capacity - both in terms of production and sales - back in line with demand. The question remains if it will be enough to ward off the ever more likely scenario of a structured bankruptcy, especially with the June 1 deadline posed by the Obama administration looming near. Read More

  • Foreign car dealer's association angry with Obama's 'buy American' message

    Foreign car dealer's association angry with Obama's 'buy American' message May 1st, 2009 By Nelson Ireson Nelson Ireson, Author, May 1st, 2009 Nelson Ireson 5 Comments

    Foreign car dealer's association angry with Obama's 'buy American' message Toyota, Nissan and Honda all build cars in the U.S. General Motors, Chrysler and Ford all build cars in Mexico and Canada in addition to within the U.S. It's hard to know which car is built where as a consumer, and the American International Automobile Dealer's Association (AIADA) is upset over President Barack Obama's 'buy American' message in during the Chrysler bankruptcy announcement yesterday.

    The organization, which represents the 11,000 foreign nameplate car dealerships in the U.S., thinks the 'American' distinction is irrelevant. "In today’s globalized economy ’buying American’ can mean anything from buying a Chevy... Toyota, Nissan and Honda all build cars in the U.S. General Motors, Chrysler and Ford all build cars in Mexico and Canada in addition to within the U.S. It's hard to know which car is built where as a consumer, and the American International Automobile Dealer's Association (AIADA) is upset over President Barack Obama's 'buy American' message in during the Chrysler bankruptcy announcement yesterday. The organization, which represents the 11,000 foreign nameplate car dealerships in the U.S., thinks the 'American' distinction is irrelevant. "In today’s globalized economy ’buying American’ can mean anything from buying a Chevy Avalanche built by Mexican workers in Silao, Mexico to buying a Toyota Camry built by Americans in Georgetown, Kentucky," said AIADA President Cody Lusk. "The real issue is that every car purchased in America today is a shot in the arm for our economy, a boost for car dealers, who are the cornerstones of communities all across this country, and a win for American consumers who have the opportunity to choose the vehicles that best meet their driving needs. President Obama must recognize that protectionist policies and statements like 'buy American' have no place in America’s economic recovery," said Lusk. The AIADA and Lusk have a valid point - many Americans work for foreign car manufacturers, their dealerships and suppliers that rely on their business. Regardless of where the corporate profit - or loss - is ultimately going, every car sold in the U.S. does some good for the economy and America. On the other hand, whether a car is assembled in Mexico or Kentucky, if the sale is chalked up for an American carmaker, it could help to boost the bottom lines of the most troubled - and thus most likely to fail catastrohpically - carmakers in America. And that could avert a situation where tens of thousands of Americans would lose their jobs. Read More

  • Canada follows U.S. lead and rejects GM and Chrysler viability plans

    Canada follows U.S. lead and rejects GM and Chrysler viability plans March 30th, 2009 By Viknesh Vijayenthiran Viknesh Vijayenthiran, Author, March 30th, 2009 Viknesh Vijayenthiran 1 Comment

    Canada follows U.S. lead and rejects GM and Chrysler viability plans Canada has followed the lead of the U.S. and rejected the respective viability plans of General Motors and Chrysler, claiming the plans do not go far enough in their current form. This means the carmakers may miss out on the initial $3.2 billion in loans pledged in December, though a small portion will be offered to help buy them time and come up with a new restructuring plan.

    Chrysler will be given $200 million today of its $800 million promise, while GM will receive a similar sized portion of a $2.4 billion packaged promised to it next month, reports The Detroit News. Both carmakers had hoped to borrow up to $9.1 billion from the Canadian... Canada has followed the lead of the U.S. and rejected the respective viability plans of General Motors and Chrysler, claiming the plans do not go far enough in their current form. This means the carmakers may miss out on the initial $3.2 billion in loans pledged in December, though a small portion will be offered to help buy them time and come up with a new restructuring plan. Chrysler will be given $200 million today of its $800 million promise, while GM will receive a similar sized portion of a $2.4 billion packaged promised to it next month, reports The Detroit News. Both carmakers had hoped to borrow up to $9.1 billion from the Canadian government and even threatened to cut production or pull out altogether. Canada’s plans for GM and Chrysler almost mirror those set by the U.S. government earlier today. GM of Canada will have 60 days to make changes to its restructuring plan, including demands for further labor and legacy cost cuts, while Chrysler will get 30 days to sign a deal with Fiat and finalize negotiations with the unions. The Canadian auto industry is roughly one fifth the size of the U.S. one and employs more than 150,000 people directly, with a further 340,000 employed indirectly through supplier and financial firms. Read More

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