General Motors
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Former presidential candidate John McCain, as well as fellow republican senator Richard Shelby, both believe that General Motors and Chrysler should go into bankruptcy rather than taking American tax dollars to prop themselves up. McCain is opposed to both the Wall Street bailout and the automotive bailout, claiming bankruptcy is the best way for failing companies to reorganize themselves. This view differs from statements made during his 2008 presidential campaign, in which he stated that he was not willing to "leave the workers here in Michigan hung out to dry". As for Richard Shelby, the...
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Germany's interior minister suggests insolvency may be best bet for OpelSaturn is expected to go its own way, Pontiac is being pared down, Hummer is up for sale and Saab has already announced it will be seeking independence. General Motors' brand hemorrhage continued last week with the announcement that Opel will be spun off from the brand as well, with a potential...
Ralph Hanson -
GM shoots down Carnegie study claiming plug-in hybrids are inefficientGeneral Motors has responded to a recent Carnegie Mellon University study claiming that upcoming plug-in hybrids such as the Volt are not actually as efficient as they seem. While cars such as the Volt use large batteries to achieve electric-only ranges of around 40 miles, the study claims that the...
James Martinez -
400hp for $35,000: Pontiac G8 GXP and Dodge Charger SRT8 after incentivesWhoever said the muscle car era was dead and gone? Right now you can drive away with more than 400hp (298kW) under the hood for around $35,000. The poor state of the economy is taking its toll on vehicle sales (GM just posted its worst sales figures since 1967 in February) but this is also having a...
James Martinez -
GM auditors have 'substantial doubt' about the company's survivalOnce again General Motors is issuing a warning that it may run out of cash. How, you might wonder, considering the billions in taxpayer dollars that have already been pumped into the company? It's unfortunately very simple: GM is still playing catchup with its debt, and all the money spent so far...
Ralph Hanson -
Bob Lutz: Saab and Volvo should mergeSwedish carmakers Saab and Volvo are in a similar predicament. One is owned by struggling Detroit carmaker General Motors and the other by Ford, and both are being spun-off from their respective parent companies in light of significant losses over the past couple of years. For Saab, GM simply cut...
Ralph Hanson -
General Motors has confirmed that Pontiac's struggling Torrent SUV will be canned this week due to poor sales and a need to remarket the brand as a lineup that specializes in cars. The news comes from the company’s North American vice-president of Buick, Pontiac and GMC, Susan Docherty, who confirmed that the Torrent is the only Pontiac model being discontinued in the near term. This means that Pontiac will continue to sell its mainstays, such as the G5, G6, G8, Solstice, Vibe and the upcoming G3. Docherty explained to Edmunds that the Torrent was being discontinued to "enable the brand...
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Chrysler incentives cost a massive $5,566 per car in FebruaryPeople aren't buying new cars. It's really that simple in a lot of ways; the economy is down, the future is uncertain and no one wants to bet their house that they'll still have a job in six months. So Chrysler has been going wild with incentives to try to prop up sales in a market that just...
Nelson Ireson -
Parts shortages could delay GM’s plan to offer 26 hybrids by 2014General Motors ambitious viability plan announced a fortnight ago called for up to $16.6 billion in additional aid and the reduction of more than 47,000 jobs across the company’s global resources, but there was another major announcement in the plan that went largely unnoticed. GM also...
Viknesh Vijayenthiran -
Chevrolet Camaro to star as Indy 500 official pace carThe Indianapolis Motor Speedway (IMS) has selected the all-new 2010 Chevrolet Camaro to star as the official pace car in the 93rd running of the Indy 500 on Sunday, May 24. The new Camaro Pace Car was unveiled during a ceremony at the IMS Hall of Fame Museum with the organization’s president...
Viknesh Vijayenthiran -
Are plug-in hybrids too expensive to justify?General Motors' Volt and the plug-in hybrid technology behind it has come under fire in the press recently, with critics accusing the car of being too expensive and too inefficient to justify its purchase over a standard hybrid. The argument goes that real-world efficiency of a plug-in hybrid isn't...
Nelson Ireson -
Cruze global sedan launches in Australia, U.S. debut more than a year awayHolden has given us a preview of its future small car plans with the unveiling of its own version of the Cruze compact sedan at the Melbourne Motor Show today. As most of you would know, the Cruze is General Motors’ new global small car and has already been launched in South Korea. The Aussie...
Viknesh Vijayenthiran -
Earlier this week Saab announced its independence from General Motors with optimism, but today the carmaker has been forced by Sweden's Customs Office to cease production and delivery of cars because it hasn't paid the required fees. The Trollhattan plant has stopped production temporarily, though the acute shortfall of cash could speak of deeper troubles within Saab. Many in the industry mourned the loss of Saab when GM cut it loose, thinking the brand was as good as dead. Saab's cheery outlook on the matter served to offer up at least a glimmer of hope that things might be turned around and...
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Sweden promises €445 million in loan guarantees to VolvoThe solipsism of American media has a way of quietly filtering out much of the rest of the world, but the car industry is in a pinch just about everywhere. Nowhere is that picture clearer than in Sweden where ailing carmakers Saab and Volvo have been seeking government aid for months. Today word...
Nelson Ireson -
GM scraps plans for Volt engine plant in Flint, MichiganEarlier this month General Motors announced that it was putting plans for the construction of a new engine plant in Flint, Michigan, on hold. The plant was to build a new range of 1.4L four-cylinder powertrains for cars like the Chevrolet Volt and Cruze, but a company spokesperson has now revealed...
Viknesh Vijayenthiran -
SLP Firehawk reborn in the form of the Pontiac G8 GTDuring the early 1990s American tuner and muscle car specialist Street Legal Performance (SLP) released custom packs for the Pontiac Firebird known as the ‘Firehawk’. The kits came in various performance stages and could be ordered directly from Pontiac showroom floors, with brand new...
James Martinez -
Chrysler still sees GM merger as best betDesperate times call for desperate measures and at Chrysler it appears every option is on the table. The Auburn Hills carmaker has been tied with at least five major carmakers in the past six months, even coming close to a merger with Detroit rival General Motors. While such a move may seem a...
Ralph Hanson -
Camaro SS and Corvette ZR1 are safe despite disbanding of GM performance divisionYesterday’s grim news that General Motors had decided to pull the plug on its High Performance Vehicle Operations (HPVO) caused shockwaves around performance circles, with many believing some of the company’s top sports cars, both current and future, could meet their demise. The HPVO is...
Ralph Hanson -
In what may come as a surprise to many, General Motors has decided to disband its High Performance Vehicle Operations (HPVO) as it seeks to reduce costs and focus on mainstream products. The go-fast center consisted of a small skunk works of GM engineers who worked in the company’s suburban Detroit technical center and were responsible for exciting vehicles like the Cadillac ‘V-Series’ of cars and Chevrolet ‘SS’ models. The latest information was confirmed by GM spokesman Vince Muniga during an interview with Automotive News. Muniga stated that all...
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GM reveals production CTS Coupe in viability presentationJust as Chrysler previewed its next-gen 300 sedan and Jeep Grand Cherokee in its viability plan submitted to the U.S. Treasury today, General Motors, too, in its own plan, revealed the final design of the upcoming Cadillac CTS Coupe. Apart from this official image, the only other details revealed...
James Martinez -
GM viability plan calls for $16.6 billion in additional aid, 47,000 job cutsChrysler’s request for an additional $2 billion in government funded loans in its latest viability proposal looks trivial compared to the $16.6 billion requested by General Motors today in front of the U.S. Treasury. Without this funding GM says it could run out of money as early as next...
Viknesh Vijayenthiran -
White House: GM, Chrysler to get another $7 billion todayDetroit's carmakers are due to submit their latest viability plans to the government later today, but already a White House source has leaked that General Motors and Chrysler will both be getting new loan funds. GM's $4 billion loan and Chrysler's $3 billion will bring the total amount handed out...
Ralph Hanson -
Spy shots: Seven-seater Chevrolet Tacuma MPVChevrolet is planning to expand into the seven-seater MPV market with an all-new model designed as a replacement for the Tacuma (a Daewoo model that was later rebadged a Chevy). Unlike the previous Tacuma, the new model is tipped to be manufactured in the U.S. and may be offered with a hybrid...
Ralph Hanson -
Detroit 3 looking to Asia for brand salesTough times are a unifying theme of the economic and sales reports of the last six months, especially in the car industry. Finding ways to pull itself up by the bootstraps is proving harder than imagined by some, but the effort is pushing the Detroit 3 to consider a window of opportunity in Asia...
Ralph Hanson