General Motors
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GM’s financial results for 2007 have finally been revealed and as predicted its net loss for the period amounted to a whopping $38.7 billion, a new record for the General. Of course, most of this figure is the result of a tax write down undertaken in the second half of last year but GM's continuing operations were still in the red. The carmaker’s adjusted net loss came in at $23 million, down from an adjusted net gain of $2.2 billion just one year prior. Sales were up 3% last year to 277,000 units, the second best result in GM’s 100 year history, but revenues were down on...
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GM to consolidate luxury brandsGeneral Motors is one of the most diverse carmakers in the business, commanding up to eight brands in the U.S. alone. Officials now hope to harmonize all of these brands into smaller groups and in the process make marketing and buying the vehicles simpler. Last month GM sales Chief Mark LaNeve told...
Kenneth Hall -
GM wants half its fleet on Ethanol by 2012Some carmakers are looking towards electric vehicles and hybrids to end the reliance on fossil fuels while other manufacturers are backing biofuel vehicles that run on ethanol or other renewable fuels. GM is sitting on both sides of the fence, developing both plug-in hybrid technology and a range...
Viknesh Vijayenthiran -
Chevrolet Volt will need big subsidiesProducing hybrid vehicles is expensive for carmakers but customers aren’t willing to pay huge premiums to cover the extra cost of the technology especially when they can get a comparable petrol or diesel vehicle for thousands less. The Toyota Prius is the current top selling hybrid but its...
Viknesh Vijayenthiran -
Opel prepping Meriva Concept for GenevaWe normally wouldn’t cover cars like the Meriva on this website but Opel has an exciting design planned for the next-generation model as this latest concept sketch reveals. The new Meriva is set to be one of the sleekest and sportiest minicars on the market but its launch is still several...
Viknesh Vijayenthiran -
Camaro hybrid possible, other GM RWDs are notThe full repercussions of the new CAFE standards have yet to be realized, but already plans are being shaken up and reworked. For GM, the first real casualty is the RWD V8 revival that we've been so anxiously anticipating. Don't worry, the Camaro is still coming - and may even get a hybrid variant...
Nelson Ireson -
Dwindling sales in the U.S. has carmakers looking to new emerging markets for the next wave of growth but according to one GM exec that alone won’t help to achieve financial success. GM, like most other carmakers, will have to improve its performance in the U.S., the world’s biggest car market. GM has seen sales in foreign markets increase by a whopping 59% over the past 12 months but this is still not enough to turnaround GM’s fortunes, the carmaker’s CFO Fritz Henderson told Reuters reporters. GM is still recovering from a $12.4 billion loss back in 2005-2006 and...
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GM could fight Nano with Chinese helpSAIC-GM-Wuling Automobile Co. came to the attention of many for the first time thanks to last week's snafu involving the inclusion of 500,000 Wuling-produced cars in GM's corporate tally in an effort to stay at the head of the pack. But the latest word is that the American company could leverage...
Nelson Ireson -
GM looks to compact turbo engines to improve mileageIt looks like impending CAFE regulations are going to have a bigger impact on GM’s future powertrains than initially thought. Officials have made it clear that V8s will have a limited role in GM’s future lineup and Vice Chairman Bob Lutz said we can all forget about a new Pontiac GTO...
Kenneth Hall -
GM speeding up hybrid roll out with new global teamGeneral Motors is establishing a new global engineering team dedicated to the development of its next generation of electrically-driven vehicles. The global organization will have teams working around the clock in locations such as North America, Germany and China, and whose main focus will be to...
Ralph Hanson -
UPDATE: GM beats Toyota for overall sales title - or notUPDATE: It turns out GM may not have edged Toyota out at all - in fact, GM may be the No. 2 auto maker in the world for the first time in 76 years if the most recent reports on sales numbers prove accurate. According to Automotive News the American company's earlier totals of 9.369 million vehicles...
Nelson Ireson -
GM confirms next Corsa will be built in the U.S.Due to rising demand for fuel efficient cars in the U.S., carmakers are keen to increase their respective small car lineups in the world’s biggest market. Few are as desperate for the tiny runabouts as the Detroit 3 but things are starting to change. GM is leading the charge with plans to...
Viknesh Vijayenthiran -
Most of the car-related buzz coming out of Australia at the moment relates to the launch of the next-generation Ford Falcon sedan, which is set to take place at next month’s Melbourne Motor Show. Arch rival Holden, however, isn’t one to sit idly by and let Ford take all of the limelight. That’s why the GM division is prepping a new concept car to draw the attention of show goers, just as it did with the previous Efijy concept (pictured) back in 2005. Speaking at the Detroit Auto Show, GM product boss Bob Lutz confirmed Holden would reveal a concept car to “knock...
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GM unveils China-designed hybridJust five years ago GM was selling a little over 100,000 vehicles per year in China, and only two years ago the figure was 500,000. Today, GM’s sales tally in the rapidly expanding market is in excess of one million vehicles and a significant number of these are Buicks. The brand is so...
Viknesh Vijayenthiran -
American made Astra in the works?The continuing story of America's devaluing dollar difficulties is one of ups and downs. While it's certainly disturbing for Americans to see their money worth less and less on the global scene, increasingly affordable American labor is drawing the eyes of many car makers. Already Mercedes-Benz...
Nelson Ireson -
Mainstream carbon fiber still 10 years offMost performance enthusiasts are well versed in the benefits of carbon-fiber, but if GM has its way your mom could be extolling the virtues of the space age material as well. In fact, as GM exec Tom Wallace pointed out in a recent interview, "carbon is one-fifth the weight of a composite, which is...
Ralph Hanson -
GM planning brand superstoresGeneral Motors is one of the most diverse carmakers in the business, commanding up to eight brands in the U.S. alone. Officials now hope to harmonize all of these brands under the one roof by creating new superstores in metro areas, allowing customers to cross-shop all of GM’s brands in a...
Viknesh Vijayenthiran -
CAFE rules put new Monaro/GTO and Impala on holdGM’s RWD future was looking rosy until the U.S. government decided to vote in favor of new CAFE rules, forcing carmakers to improve the average fuel economy of their fleets to 35mpg by 2020. We were teased with all manner of RWD, V8 powered muscle cars, including sedans, coupes, and even a...
Viknesh Vijayenthiran -
More rumors suggesting Americans will soon be seeing the Australian-built Holden VE Ute Stateside have flared up again, with GM insiders claiming the utility will be sold as the new Pontiac G8 ST sometime later this year or early next year. Unfortunately, these same insiders claim plans for a G8 sports wagon have been dropped. According to the source, the G8 ST Ute’s combination of distinctive styling, performance and reasonable price (the Ute is cheaper than the sedan in its homeland) will help build Pontiac’s image in markets where the brand is often overlooked. The wagon was...
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GM invests in ethanol production...from garbageThose of us that grew up with the Back to the Future series of movies generally feel a little short-changed when it comes to the innovations promised and not delivered. But GM's doing its best to remedy that by teaming up with Coskata, Inc., a company that has found a way to turn garbage into...
Nelson Ireson -
GM considering ‘micro-premium’ carSize no longer matters when it comes to the premium consumers are willing to pay for a little bit of luxury. You only have to look at the runaway success BMW has been having with its Mini range and to a lesser extent its 1-series model to see that there’s big money in small cars. GM is one...
Alex Kaufmann -
GM exceeds 1m sales in China this yearDespite the recovery plans for GM still in full swing in the United States, the company has managed to have some success in overseas markets. China, in particular, has been an important market where GM exceeded 1m sales for 2007, becoming the first global manufacturer to do so. Just five years ago...
James Martinez -
GM opens design center for future electric vehiclesGeneral Motors is opening a new studio dedicated to the carmaker’s next generation of electrically-driven vehicles. The newly renovated studio is located within GM’s Advanced Design Center, which was responsible for the Chevrolet Volt concept (pictured) revealed back at January’s...
Ralph Hanson -
Steinmetz Opel GT debuts at Essen Motor ShowThe Opel GT (Saturn Sky) platform is one the most stylish roadsters on the market despite its budget connotations and combined with a turbocharged powerplant you’d think it would be one of the most popular tuner cars around. Surprisingly, tuner kits for the GT are few and far between, but one...
Ralph Hanson