Bob Lutz, writing today on GM’s FastLane blog, discussed the Buick Invicta Concept (pictured) and its relation to the upcoming Buick LaCrosse production car. The GM CEO also gave a look into the future of GM’s model-sharing plans, focusing on differentiating cars that share platforms, rather than just badge-engineering them, as GM has […]
Rick Wagoner, General Motors’ CEO, has recently come out against United Nations research arguing that there is a link between biofuel production and a global rise in food prices, deriding the report as “shockingly misinformed.”
Perhaps GM’s own vested interest in the subject - not just in the form of its already hefty investment in […]
Concerns about rising fuel prices have spilled into the U.S. presidential election campaign with both Republican nominee John McCain and Democratic hopeful Hillary Clinton calling for a gas tax ‘holiday’ this summer. They want to see the current 18.4 cent per gallon tax on fuel lifted for the period between May-end and Labour Day.
Democratic rival […]
The auto industry spent a combined $70.3 million lobbying the U.S. government last year, setting a new record for the bill, which came in 19.6% higher than the previous year. The inflated level of spending was driven mostly by new CAFE regulations voted in over the past 12 months.
The finding was the result of […]
U.S. auto sales have been on the decline for the past 12 months and there’s no sign of a major upturn anytime soon. The market, which for years has been the world’s biggest in terms of auto sales, could soon be overtaken by Europe and possibly China and according to Renault-Nissan CEO Carlos Ghosn it […]
Despite the massive losses of early 2008 at GM and Chrysler, other firms, like Maserati and Ferrari are doing quite well - as is Volkswagen. The Volkswagen group’s Volkswagen brand generated a $718 million profit in the first quarter, despite essentially unchanged revenues compared to last year.
The boost comes from reducing costs, yielding an increase […]
Since Chrysler is under private control it has no obligation to release financial results but according to its former parent company, Daimler AG, its result for the 2007 financial year could be a loss of more than $6.8 billion. Daimler indicated that Chrysler lost roughly that amount in the last five months of 2007, however […]
GM today announced financial results for the first quarter of 2008, revealing a $3.3 billion loss over the period – down from a modest loss of just $42 million one year ago. Revenue for the first quarter was $42.7 billion, down slightly from $43.4 billion in the year-ago quarter. This was primarily due to lower […]
Over 40 reports of severe corrosion of Hyundai Sonata frames has prompted the U.S. National Highway Traffic and Safety Administration (NHTSA) to investigate the matter. The rust problem is reportedly so severe it is causing suspension failure and ‘fist-sized holes’ in the frame. The problem affects only the 1999-2002 model years (2008 model pictured is […]
Update: Just yesterday we brought news of Pininfarina’s fund-raising drive to get new capital investors, and today the company has made its announcement. Three additional major players in the auto industry will be taking a stake in the design firm, although exactly how much will be acquired by each is unknown. The Pininfarina […]
As the fallout from last week’s CAFE announcement continues, worrying details about the new standards and how they appear harsher for some carmakers than others are starting to appear. The 2015 interim target of 31.6MPG fleet average for new cars and trucks is based on a complicated formula that takes into account all manner of […]
GM will attempt to avoid the same fate as Toyota and reduce production at a number of its plants to prevent an oversupply of vehicles in the stagnant U.S. market. Corroborating with the decline in demand for fullsize SUVs and pickups, GM confirmed today that it will start eliminating shifts at its Pontiac and Flint […]
We’re used to reading stories about the Detroit 3 suffering from inventory problems but when unstoppable Toyota suffers a blowout you start realize just how badly the state of the economy and the car industry in general is doing. Inventory levels for Toyota and its Scion brand have risen to record highs because of poor […]
Porsche’s power plays within Volkswagen have been getting a lot of press lately, with everything from failed board votes to spy scandals sprouting out of the deal. Now attention turns to Porsche’s interest in Audi, where it is working to secure three spots on the supervisory board.
The three officers to be appointed at the upcoming […]
As fuel prices continue to skyrocket to record highs, more and more consumers are increasingly becoming wary of just how much they are paying at the pump. But new reports in the U.S. claim faulty fuel pumps can be partly blamed for the rising cost of fuel and consumers are being overcharged without even knowing […]