GM
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General Motors is currently seeking a buyer for Hummer, is looking to sell a stake in Opel, plans to cut its ties with Saab, and is open to almost anything with Saturn, but despite the drastic moves the auto industry task force established by President Obama is still seeking more. After rejecting the second round of viability plans from GM at the end of last month, the carmaker was given just 60 days to restructure or face paying back all its government funded loans. Facing a new June 1 deadline to restructure, GM will need to make more cuts to appease the task force and recent reports have...
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Bondholders consider increased debt-for-equity-swap as GM bankruptcy loomsGM's decline over the course of this year wasn't enough to convince bondholders and the UAW to grant any concessions, but recent reports that the carmaker was in precautionary preparations for filing a Chapter 11 may have galvanized action on the part of the bondholders. Allowing GM to go to...
Ralph Hanson -
Expert predicts next GM subsidiary to fall will be Holden
The continuing downfall of General Motors in recent months has led to some serious scrambling at the carmaker’s subsidiary brands as each struggles to keep its head above water as the ship goes down. We saw it first with Hummer, which GM decided to offload as far back as the middle of last...
Kenneth Hall -
Docherty: Pontiac decision may have to wait until next year
As General Motors prepares for its June 1 bankruptcy-or-viability deadline, the decision on what to do with Pontiac is sitting on the back burner. In fact, dealers may have to wait until next year to find out what the General has in store. Or so says Susan Docherty, vice president of GM's...
Nelson Ireson -
Cadillac exec confirms sub-CTS model and STS/DTS replacement
In late 2007 Cadillac general manager Jim Taylor revealed that the current STS and DTS models would be dropped at the end of their respective product cycles in favor of a single luxury sedan. While General Motors’ financial woes led many to believe that the new Caddy flagship model had been...
Ralph Hanson -
Opel's next-gen Zafira previewed in new sketch
Future may be the F-word at General Motors' Opel, Vauxhall and Saturn brands, but that's not stopping development work from continuing on core vehicles like the Zafira seven-seater. Prepping for release in 2011 or 2012, the new car wears a brand identity that was first previewed with the Flextreme...
Kenneth Hall -
General Motors’ cash struggles are widely known by now, but the Detroit carmaker's accountants had found a creative way to produce some income - auctioning off more than 250 new and old production models and concepts that up until now have been admired in the company’s Heritage Museum Collection. But the NHTSA, apparently afraid buyers would try to register the many salvage titled cars for the street, has put a stop to the sale - but not of all the cars. Only cars that were never production vehicles or titled as such will be prohibited from sale, it seems, with the already...
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GM preparing for bankruptcy
General Motors is reportedly preparing for the worst, with work under way to get the company ready for a possible bankruptcy. Earlier on this month, it was mentioned that a bankruptcy plan to split GM and retain only the most profitable aspects of its operations while ditching the dead weight was...
Jeremy Weber -
Volt won't get DOE funds until GM passes government viability tests
There are many layers to the deal General Motors has had to accept from Washington. In addition to having 60 days - now down to 51 - to turn things around or face bankruptcy, GM must also convince the government it will remain viable in order to be eligible for $10.3 billion in Department of Energy...
Nelson Ireson -
New Buick LaCrosse priced from $27,835 in U.S.
Buick today announced pricing for its 2010 LaCrosse luxury sedan, which will arrive in showrooms in the middle year with a starting price of $27,835 for the base CX model (plus $750 in destination charges). Standard equipment includes a new 3.0L direct-injected V6 driving the front wheels, premium...
Ralph Hanson -
GM offers more direct-injected models in U.S. than any other automaker
GM is understandably proud of its direct-injection system that helps its vehicles be more frugal while churning out extra power, and according to the company it’s now the brand with the most direct-injected vehicles in its North American lineup. For those that don't know, direct-injection...
Ralph Hanson -
VW poised to overtake GM in vehicle production
General Motors has already been taken over by Toyota as the world's biggest automaker, but the latest reports are predicting that the struggling Detroit giant is set to fall further down the list. In its place will emerge rival European automaker Volkswagen AG, which is expected to become the...
Jeremy Weber -
Just days out from the New York Auto Show, General Motors, together with Segway, has unveiled a new type of vehicle that could change the way we move around in cities. Labeled Project P.U.M.A. (Personal Urban Mobility and Accessibility), the vehicle is an electrically powered, two-seat pod that has only two wheels. It could allow people to travel around cities more quickly, safely, quietly and cleanly - and at a lower total cost – but it is still in the prototype stage. Trends indicate that urbanization is growing, and with that comes increased congestion and more competition for...
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GMC adds Yukon Denali Hybrid to lineup
Joining the Yukon Hybrid SUV and Sierra Hybrid Pickup this May is the all-new GMC Yukon Denali Hybrid SUV, which makes its debut this week at the New York Auto Show. The latest addition is an upmarket fullsize SUV that seats eight, tows up to 5,800lb (2,636kg) and according to GM achieves an...
Viknesh Vijayenthiran -
GM will maintain global product strategy even if it loses control of engineering centers
Becoming efficient is GM's key goal right now, both in bringing back its own financial security and at the same time convincing the auto industry task force to provide crucial loans. To achieve this goal, GM will be trying to preserve its global product strategy that helps it reduce costs for model...
James Martinez -
GM bankrupcty could split healthier brands off into separate company
Hidden away in General Motors' plans for the next 60 days is a bankruptcy strategy that could see its most successful brands peel off to form a second company, leaving the other brands to languish in bankruptcy for a more extended period. The news comes from an anonymous source within GM via...
Nelson Ireson -
Slow sales to keep Corvette plant closed through July
Rick Wagoner was sent packing earlier this week, then GM debuted a new buyer assurance program and guaranteed warranties, and Fritz Henderson put out a message of determination in the face of difficulty today, but Corvette's plant in Bowling Green won't be back in full operation until at least...
Ralph Hanson -
Cadillac now offering Escalade Hybrid in Platinum trim
When it comes to maximizing fuel savings, a vehicle like the Cadillac Escalade is probably one of the best platforms for a hybrid drivetrain. The SUV’s are big and heavy and are mostly found in and around city suburbs. This means mostly slow traveling speeds and plenty of stop-start...
Viknesh Vijayenthiran -
All the great deals on new cars going around are tempting to many who would be buyers but for the tenous state of the overall economy, but not tempting enough to overcome the fear of a lost job, repossession and the trouble that follows. So Ford and General Motors are both stepping up today with new buyer assurance plans that will cover car payments if a new car buyer loses their job. The two American carmakers are late to the party, however, with Hyundai having pioneered the idea over a month ago. Ford's deal goes further than Hyundai's, however, covering a full 12 months of payments...
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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...
Viknesh Vijayenthiran -
Wagoner nabs $20 million retirement package on forced exit from GM
When you're Rick Wagoner, you get a golden parachute even when you're thrown out of the plane. The news today of Wagoner's $20 million retirement package might come as a surprise to some, following so closely on the heels of his Presidential ouster over the weekend. Wagoner won't get the cash all...
Nelson Ireson -
Auto industry task force rejects GM and Chrysler viability plan
The Obama administration auto industry task force has rejected viability plans for General Motors and Chrysler and threatened that both may be forced into bankruptcy unless further sacrifices are made. The task force has consistently stated that its goal is to solve the industry's problems rather...
Ralph Hanson -
Spy shots: Barely disguised Opel Insignia OPC
We’ve seen a number of prototypes for the upcoming OPC Opel Insignia sedan and Sports Tourer wagon in the past 12 months but this is the first time that we have seen the car in its almost production ready state. OPC, which stands for ‘Opel Performance Center,’ is the name given to...
James Martinez -
GM CEO Rick Wagoner resigns, Fritz Henderson takes the reigns
General Motors has confirmed that CEO Rick Wagoner will resign at the behest of President Barack Obama and his auto industry task force. Wagoner is stepping down from the top spot, effective immediately, and will be replaced by the company’s current COO Fritz Henderson. Wagoner confirmed that...
Viknesh Vijayenthiran
