General Motors
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Robert Snell / The Detroit News DETROIT -- Turns out General Motors Corp.'s employee discount isn't for everyone. The automaker, which last week temporarily extended the perk nationally to anyone in a bid to boost sales and clear out inventory, simultaneously filed three lawsuits alleging fraud as the company cracks down on employees, retirees and widows giving discounts to nonrelatives, according to court documents. Along with other recent lawsuits, the automaker is suing for more than $450,000 plus costs and attorney fees. "What an irony, huh?" lawyer John Pieri said. He represents a retired autoworker in Buffalo, N.Y., who is being sued for $45,501 and accused of…
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Jamie LaReau Automotive News August 25, 2008 - 12:01 am ET DETROIT — The world in which General Motors operates is a very different place from what it was a year ago. Gasoline prices are at unprecedented highs, the green movement has gained momentum that likely won't be reversed, the slump in housing has killed the demand for high-profit pickups and SUVs, and the Detroit 3 are running out of cash. Add to that strict new federal fuel economy regulations. Although GM has vowed to not let those factors diminish its future product lineup, they are affecting how many products the automaker will build. Economic conditions turned so severe that in June, GM put its…
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August 29, 2008 - 11:15 am ET DETROIT (Reuters) - General Motors Corp. is recalling 857,735 vehicles equipped with heated windshield wiper fluid system for a potential short circuit problem, according to federal safety regulators. A short circuit in the system may cause other electrical features to malfunction, create an odor or cause smoke, increasing the risk of a fire, the National Highway Traffic Safety Administration said on its website. Link: http://www.autonews.com/apps/pbcs.dll/arti...p;rssfeed=RSS31
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Lambdas get IIHS Top Pick rating Link to Autoblog The Insurance Institute for Highway Safety took some GMC Acadias and smashed them up to see how the big crossovers hold up against immovable objects, and unlike recent tests conducted for the Chevy Equinox and Pontiac Torrent, the news is positive. An AWD Acadia SLE acted as a stand-in for all of the Lambda models - Buick Enclave, Chevrolet Traverse, Saturn Outlook, and all Acadia trims included. It didn't matter whether the IIHS attacked the front, side, or rear – the CUV earned a "good" rating in all directions. With the standard fitment of Stabilitrak, the IIHS also bestowed a Top Safety Pick crown on GM's big …
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http://www.edmunds.com/insideline/do/News/articleId=130591 "in July, consumers' consideration of presumably out-of-favor segments including large crossovers, minivans and sports cars began a significant recovery, while consideration of small cars and hybrids actually began declining from levels in June."
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I've actually always liked watching the Charlie Rose show on CBS - especially on nights when I was having trouble falling asleep and I wanted to watch something quasi-interesting. Anywho...very interesting to watch for any GM fan. http://www.charlierose.com/shows/2008/8/18...eo-rick-wagoner
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Apparently the Big 3 are going to ask the Govt. for $25 Billion in cheap money. The term "bailout" kind of pisses me off, but that's how our brainiacs in the media love to spin it. I personally have mixed emotions about it, because there's this part of me that feels a lot of the Big 3's problems were brought on by themselves. But on the other hand, if we can spend untold millions in Iraq (Halliburton anyone?) - give money to Isreal, spend money on army bases in Japan, have the Federal Reserve "bail out" other big banks and mortgage companies, etc, etc; then I say, why not give money to the Big 3? After all, they're actually producing a useful, tangible product that…
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http://www.detnews.com/2005/autosinsider/0.../A01-322175.htm Can new lineup of big SUVs revive GM? Ailing automaker hopes 12 full-size models will invigorate a segment that has been shrinking. By Bill Vlasic / The Detroit News WARREN -- General Motors Corp. on Tuesday unveiled the most important new vehicles in its effort to turn around its troubled North American operations. But by betting big on a redesigned fleet of 12 full-size SUVs, including the Chevrolet Tahoe and Cadillac Escalade, GM is trying to buck a consumer shift toward smaller, more fuel-efficient cars and crossover vehicles. Rising gas prices have hit the large SUV segment hard th…
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In another sign that the auto industry is pulling away from lease deals, General Motors Corp. is cutting back incentives on new GMC, Buick and Pontiac vehicles. Dealers learned Monday that the only lease deal they'll have to offer for those brands through GM's partially owned financial arm GMAC will be on the Pontiac G6, said Russ Shelton, owner of Shelton Pontiac Buick GMC in Rochester Hills. The narrowed leasing incentives start Wednesday. It is unclear what kind of leasing deals GM will support for other brands, including Chevrolet, Saturn and Hummer. GM spokesman John McDonald said he couldn't comment on specific deals. GM expects to announce today details of …
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Now that I'm back in the saddle again, I keep hearing these persistent rumours that the KAPPA cars are dead. In particular I hear that the KAPPAS won't be moved to Bowling Green and that the next generation has been canceled. I am looking into it. Edit: Thanks to those who e-mailed me about this.
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August 15, 2008: 09:07 AM EST NEW YORK (Associated Press) - General Motors Corp. said Friday it will announce a multimillion-dollar investment at its Lordstown plant and release photos its Chevrolet Cruze small car next Thursday. The Cruze will be officially unveiled at the Paris Motor Show next month, the company said. The Detroit automaker has said it plans to add workers at its Lordstown facility, which makes fuel-efficient cars that are selling well. It has announced a multibillion-dollar restructuring plan, including plant closures elsewhere, to try and weather the shift in consumer demand away from trucks and SUVs to more fuel-efficient cars. Shares of GM cl…
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Link to Article Link to Photo Gallery
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By Bernard Simon in Toronto Published: August 17 2008 19:18 | Last updated: August 17 2008 19:18 General Motors is planning to rebadge its Chevrolet Volt electric car as an Opel and bring it to Europe as part of the US carmaker’s plans to expand the model range of its highly anticipated new vehicle. GM is sufficiently encouraged by the development of the Volt that it has begun work on several other similar vehicles. EDITOR’S CHOICE GM shares fall on Moody’s rating cut - Aug-13Hybrid race heats up for carmakers - Aug-13Upbeat GM chief says group past worst - Aug-11US economy slams brakes on carmakers - Aug-01Video: Liam Denning on General Motors - Aug-01A not so…
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BY KATIE MERX • FREE PRESS BUSINESS WRITER • August 16, 2008 TRAVERSE CITY -- The Chevrolet Volt is expected to be the first of many electric vehicles General Motors Corp. will launch in the next few years, executives said this week. Top executives on the Volt and its E-flex electric propulsion system said they are working on the design and engineering of the next vehicles the automaker will launch with the range-extended lithium-ion battery propulsion system. "The significance of the project has increased," Frank Weber, the engineer and executive in charge of the Volt and E-flex system, said at the Center for Automotive Research's Management Briefing Seminars. Th…
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August 16, 2008 12:00 PM EDT DETROIT, Aug. 16 /PRNewswire/ -- On September 16, 2008, General Motors will mark the beginning of its second century with GMnext Day, a series of forward-looking activities that will focus on the future of automotive transportation. The event also caps a year-long global initiative called GMnext, through which GM engaged audiences in a dialogue about its next- generation vehicles and technologies and offered commentary from GM executives and automotive thought-leaders from around the world. "The GMnext program and our dedicated website, http://www.gmnext.com , have opened another door for consumers to connect with us and take a look at wh…
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http://www.leftlanenews.com/gm-officially-...uick-model.html
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GMI is reporting that the DTS replacement, Zeta Caddy, is dead. That would leave only Camaro, precariously on Zeta.
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No so inscrutable. http://biz.yahoo.com/rb/080724/zhongxing_merger.html?.v=2
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Hi, I'm a reporter from the Washington Post working on a story about how GM is trying to learn to court younger buyers using the Chevy Cobalt. If you're under 30 and own a Cobalt, or know somebody that age who does, I'd really like a chance to chat with you. My e-mail is: [email protected]
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ttp://money.cnn.com/2008/08/12/news/companies/taylor_nissan_gm.fortune/index.htm?postversion=2008081313
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It was a beautiful sunny day at GM's proving ground in Milford, Michigan in mid-May when GM Vice Chairman Bob Lutz invited me to watch him test the E-Flex system behind the new Chevy Volt. Given the enthusiasm surrounding the Volt, I jumped at the opportunity. Would E-Flex deliver on the promise that's been built up surrounding GM's electric car? The answer: Yes. We taped Bob driving the Volt E-Flex system for our CNBC documentary "Saving GM" which airs tomorrow night. The Volt's "guts" were in a Chevy Malibu "mule" car for the Lutz run. We didn't care. We wanted to see for ourselves how the Volt's battery-powered engine ran. Lutz was only supposed to do a lap at the M…
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One thing I find funny about the internet - it gives me a chance to find all of the douche bags of the world and watch them open their word holes and have diarrhea come pouring out at just the click of my mouse. All from the comfort of my own home! http://finance.yahoo.com/tech-ticker/artic...,yhoo,msft,goog
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Link to Article
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Many of us have strong feelings about what each of GM's brands should be. Now, according to an article in the Detroit Free Press, following a study which began three ( ! ) years ago, GM can explain what it intends. Click here.
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http://money.cnn.com/galleries/2008/autos/...duct/index.html
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I'd like to share an interesting piece from U.S. News & World Report, in which Mark LaNeve responds to some questions about GM's present and future. To read it, click here.
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http://www.reuters.com/article/marketsNews...20080728?rpc=44 So it sounds like the W-Body impala will be hanging around for another 5-6 years, unless they plan retool the Plant for EPII which there has been no mention of that I've seen
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http://money.canoe.ca/News/Other/2008/08/01/6327421-ap.html
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does anyone know when the financial reports are due?
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From Autoweek Dutch Mandel Imagine the Irony It certainly was not lost on the sharp mind of John G. Middlebrook, a 49-year veteran of General Motors sales wars. Middlebrook, who until July 1 was vice president of vehicle brand marketing and corporate advertising, joined family, friends and business acquaintances at the General Motors Heritage Center, a facility that chronicles GM's nearly 100-year history. They came to celebrate Middlebrook's retirement from the company. The irony: On the day that Middlebrook was making small talk with well-wishers, GM chairman Rick Wagoner announced that what once was the world's largest corporation is making dramatic, drasti…
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I think we can close this section now....
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http://money.canoe.ca/News/Other/2008/07/29/6295886-sun.html
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Jamie LaReau Automotive News July 28, 2008 - 12:01 am ET DETROIT — General Motors is allowing U.S. employees the opportunity, through July, to offer an employee discount to any one person they choose. The program is not as broad as GM's 2005 Employee Discount for Everyone event. It's an effort to boost sales, talk up GM products and clear inventory, a company spokesman said Friday. An employee discount provides substantial savings. For example, a Buick Lucerne with a sticker price of $34,200 would have an employee price of $29,758.03 after cash incentives, said a GM spokesman. Link: http://www.autonews.com/article/20080728/A...paign_id=alerts
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http://jalopnik.com/398599/rick-wagoner-le...ze-cadillac-srx Link Fixed
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http://www.freep.com/apps/pbcs.dll/article...5/1002/BUSINESS MARK PHELAN Lutz says GM won't sweat the small stuff Carmaker to focus on high-volume, big-profit products BY MARK PHELAN • FREE PRESS COLUMNIST • July 16, 2008 Read Comments(19)Recommend (3)Print this page E-mail this article Share this article: Del.icio.us Facebook Digg Reddit Newsvine What’s this? The troops need something to fight for, not a feeling of endless retreat. General Motors Vice Chairman and retired Marine pilot Bob Lutz gave his beleaguered company that goal Tuesday, saying the company will concentrate its engineering and design efforts on vehicles it expects to sell profitably a…
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I had never hear of GMnextWiki. Here it is...neato. http://wiki.gmnext.com/wiki/index.php/Main_Page
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Can General Motors come back? By Jim Jubak - Link to original article Jubak's Journal 7/18/2008 12:01 AM ET The future for automakers is so murky that even deeply wounded GM could enter the next decade in control. But the company will have to keep a close eye on its cash. The auto industry is in chaos -- fortunately for General Motors. Gasoline above $4 a gallon in the U.S. has sent sales of trucks and SUVs plunging as drivers look for more mileage for their dollars. Higher steel prices have savaged profit margins. New competitors from India and China are about to emerge in the global market. And nobody knows what the future will bring -- electric cars, …
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Let's see....Cerberus and other private equity owneds Mervyn's Cerberus and GM are the owners of GMAC GMAC stopped approving orders of merchandise for Mervyn's And now Mervyn's faces bankruptcy So that leaves only one thing for Cerberus to do Cerberus going to pull the plug on Mervyn's So what makes some members here think Cerberus won't do the same to Chrysler.Chrysler needs $10 billion for Veba,plus Chrysler has debt due in 2010. More here
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http://www.autoweek.com/apps/pbcs.dll/arti.../705485855/1065 GM confirms new products By GREG MIGLIORE General Motors is launching seven key new vehicles in the next two years, including three Cadillacs and a production version of the Buick Invicta concept, as part of a car and crossover product blitz to help turn around its troubled North American operations. The new vehicles were confirmed by GM CEO Rick Wagoner on Tuesday after he laid out a series of cuts designed to improve the troubled automaker's liquidity by $15 billion through 2009. The Cadillac CTS coupe, which turned heads in January at the Detroit show, headlines the list of new vehicles confirmed …
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Source: Autoblog
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Link to Article GM researches high-tech windshields to aid vision By MARGARET HARDING, Associated Press Writer 2 hours, 1 minute ago WARREN, Mich. - When Coke bottle glasses just won't cut it for safe driving, a futuristic windshield might do the trick. General Motors Corp. researchers are working on a windshield that combines lasers, infrared sensors and a camera to take what's happening on the road and enhance it, so aging drivers with vision problems are able to see a little more clearly. Though it's only in the research stage now, the technology soon will be more useful than ever. The 65 and older population in the U.S. will nearly double in about 20 years, …
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Steps that could persuade skeptics that GM is on the road to recovery By Rick Newman Posted July 15, 2008 These are grim days for a storied company, but General Motors is finally taking some of the radical steps it needs to survive. Up till now, GM has been following a gradual turnaround plan, focusing on recasting its product lineup, securing more favorable terms with its unions, and doubling down on a few breakthrough technologies. Right ideas. Wrong pace. A wheezing economy and the ramifications of $4 gas have simply transformed the auto market far faster than GM foresaw. So with its sales and share price in a free fall—and analysts starting to worry about the…
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http://autos.aol.com/article/green/_a/best...711132109990002
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GM CEO Wagoner to Announce Company Actions to Align Business To Current Market Conditions
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GM CEO Wagoner to Announce Company Actions to Align Business To Current Market Conditions Detroit, Mich. (NYSE: GM) General Motors Chairman and CEO Rick Wagoner will hold a news conference on Tuesday, July 15 to discuss actions the company is taking to align the business to current market conditions. The press conference will begin at 9:00 a.m. EDT in the Jefferson Room of the Renaissance Conference Center on the second level of GM global headquarters in Detroit. The satellite feed for the press conference is: Satellite: AMC 16 Transponder: 23 Downlink: 12160 Vertical Audios: 6.2/6.8 Analog, Ku Band A listen and Q&A line will be available for media: …
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Toronto Star David Olive Business Columnist As recently as 1980, when General Motors Corp. commanded about half of the North American market, it was unthinkable that the century-old company might someday face the prospect of bankruptcy. Yet it's the complacency that came with GM's sustained market dominance through most of the 20th century that accounts for the automaker's perilous condition today. Last Monday, the Wall Street Journal shook up the auto world with a front-page report on GM's woes, and the radical steps the firm is contemplating to ensure its survival. Little in the report was new. Wall Street long ago factored into GM's share price its litany o…
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DETROIT, July 7 (Reuters) - General Motors Corp is rushing to finish the production version of its Chevy Volt and plans to unveil a showroom-ready model of the heavily touted electric car in September, people familiar with the project say. Battered by a deepening slump in sales and concerns about whether it can ride out the downturn, GMis counting on the Volt to break its costly association with gas-guzzling vehicles at a time when truck sales are tumbling and gas prices are near record levels. GM is likely to complete the production version of the Volt by early August and plans to show it off in September, just when the embattled automaker celebrates the 100th annive…
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as seen on FT.com today.. GM prepares for 'realignment' By Bernard Simon in Toronto Monday Jul 14 2008 16:00 General Motors (NYSE:GM) will unveil further measures on Tuesday to cope with the dramatic downturn in the north American vehicle market. The world's biggest carmaker said that the steps, to be outlined at a press conference, are designed "to align the business to current market conditions". The conference will be attended by Rick Wagoner, chief executive, as well as Fritz Henderson, chief operating officer, and Ray Young, chief financial officer. Bookmark and Share GM announced last month that it would close four north American light-truck plants i…
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Market valuations for GM, Ford skid as fears accelerate Fri, July 11, 2008 Shares of General Motors Corp. slid to another record low yesterday, as speculation swirled about the financial viability of U.S.-based automakers and a possible bankruptcy filing at GM. GM shares fell 64 cents, or 6.2 per cent, to close at $9.69, after tumbling to $9.32 earlier, passing Monday's five-decade low by 60 cents. Yesterday's low marked the Detroit-based automaker's lowest share price since July 2, 1954, when its stock dropped to $9.15, according to the Center for Research in Security Prices in Chicago. The price is adjusted for splits and other changes. Carl-Peter Forster,…
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DETROIT, July 8 (Reuters) - General Motors Corp is not planning a sale of any of its brands other than the Hummer line of SUVs, GM's North American sales chief said in an e-mail to the automaker's U.S. dealers. Mark LaNeve, GM's vice president for North American sales and marketing, said none of GM's brands other than Hummer were up for sale or being considered as candidates for closure, despite growing speculation to the contrary. "I have been asked by the media if other brands were undergoing a similar strategic review. My answer then and now was the same -- no," LaNeve said in his e-mail. LaNeve said GM's dealers would be among the first to know if plans changed …
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I think I'm going to projectile vomit. Cruze!? I was waiting for GM to come out with a replacement for my Cobalt and now they think I'm going to buy a Chevy Cruze!? Who in Gods name came out with that idiotic, moronic, witless name? I didnt think they should change the name at all but I would have had no problem if they changed it to Nova, Chevelle, Monza, even Optra. To make matters worse they are waiting until 2010 in their weakest market to sell the replacement while not improving the current Cobalt at all! What do they think the resale value will be on current Cobalts? What about all the Cobalt fansites that exist now? Cruze? Oh man, I think I am going to have …
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July 7, 2008 07:15 CET UPDATED: 0/07/08 11:33 CET LONDON (Thomson Financial) -- General Motors could shed thousands of white-collar jobs and sell or cease producing certain brands as part of a strategy reevaluation, said the Wall Street Journal, citing people familiar with the matter. The job cuts are expected to be approved at a meeting of the GM board in early August. The management may also suggest options for raising additional cash to help GM make it through the downturn, and may discuss cutting certain brands, the sources said. A company spokesman declined to comment on either the job or brand cuts, said the report. GM sells under eight different brands, b…
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Just snagged this from the GM Yahoo Financial site. I'd like to read everyone's take at your convenience. Go GM... http://www.reuters.com/article/marketsNews...lBrandChannel=0 Adding this link: http://biz.yahoo.com/minyanville/080708/20...gs_id.html?.v=1 The article is entitled "Bureaucratic Gasbags Little Help To Global Warming". It is in regard to California's new scheme to 'rate' vehicles. California: the State Bird is Soot. State Flower is scorched earth. Yes, California, State perpetually aflame.
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Last reply by CARBIZ, -
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The latest news on this topic: http://articles.moneycentral.msn.com/Inves...702markets.aspx
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John Revill July 7, 2008 06:01 CET WROCLAW, Poland -- Chevrolet expects to increase its European sales by 10 percent to nearly a half million cars this year. "I think we can grow from 450,000 to close to 500,000 this year," Steve Flamand, Chevrolet Europe product marketing manager, said. Flamand said Chevrolet mainly expects to increase sales in growth markets such as Russia, Turkey and eastern Europe. But the brand also believes it can boost sales slightly in western Europe despite the region's economic downturn and forecasts for a flat new-car market in 2008. "For other volume brands, thinking about growth is quite a challenge," Flamand told Automotive News…
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John Revill July 7, 2008 06:01 CET General Motors Europe's decision to build its new Astra in Rüsselsheim, Germany, will not affect other plants scheduled to produce the key model starting in 2010, a top union official says. Currently, GM's Rüsselsheim plant only builds upper-medium cars for its Opel and Vauxhall subsidiaries. But weak sales in the segment have forced GM to scale back its production schedule. The factory is currently running at a little more than half its 218,000 annual capacity. GM's June 20 announcement that the Astra will be built in Rüsselsheim came as a bit of a surprise. Industry observers expected GM to move production of the Saab 9-3 to R…
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Jason Stein July 7, 2008 06:01 CET Should Rick Wagoner have spent a little more time in Europe? Four years ago, in a sun-drenched stretch of the French countryside, General Motors chose a gorgeous setting near Fayence to unveil its future strategy to the world's journalists. GM's PR folks called it a Global Product Seminar, but Europe was clearly on everyone's mind. There were new Corsas, new Astras, new diesels and new plans for GM to stake its claim as an international powerhouse. A barrel of oil was under $40. Gasoline was about $2.00 a gallon. Full-size trucks and SUVs were delivering barrels of cash. Would North America need the small stuff? Nah. Not i…
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GM may kill another brand , did anybody say Pontiac? Also delays GMT 900 replacements. 1 2 3 4
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General Motors Corp is delaying the redesign of SUV's and full size trucks as part of a wholesale review of its product and brand portfolio geared toward building lighter , fuel-efficient vehicles. General Motors is looking at the whole product profolio,'' spokesman Tom Wilkinson said late Wensday. In the meantime, he said the automaker will extend the life cycle of its current linup of pickups and SUV's. Those vehicles know as the GMT900 lineup. The next generation of trucks and SUV's weren't slated to hit the market until at least 2012,. People briefed on the matter say the automaker also has discussed killing off at least one future Hummer SUV product , and poten…
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July 2, 2008 - 11:00 am ET DETROIT (Reuters) -- General Motors will need to raise about $15 billion in cash to shore up liquidity and bankruptcy is "not impossible" if the U.S. auto market continues to slump, Merrill Lynch said on Wednesday. Merrill Lynch analyst John Murphy said in a research note he cut GM to "underperform" from "buy" and lowered his price target for the largest U.S. automaker to $7. GM shares fell Wednesday to as low as 10.80 on the report. As of 10:50 a.m. EDT, shares of GM were trading at 11.04, down 71 cents, or 6.0 percent. The downgrade comes one day after GM said that June sales fell 18.5 percent from the same month a year ago. Despite th…
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Johan Dillen July 3, 2008 11:27 CET General Motors Europe workers stopped working at the company's Antwerp, Belgium plant this week because of complaints over an increased workload, union officials said. The plant's union stopped building the lower-medium Opel Astra Tuesday afternoon. Union and management agreed to a compromise Wednesday morning to slow the assembly line. Production resumed immediately after the agreement. There had been an agreement to increase the speed of the assembly line from 30 cars per hour instead of 28. "It is now clear that … is unbearable for the current workforce," said Luc Van Grinsven, chief representative of ACV-Metaal, the Be…
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AP News StoryBy TOM KRISHER and DEE-ANN DURBIN – 1 hour ago DETROIT (AP) — General Motors Corp. outsells Toyota Motor Corp. in June to retain its traditional U.S. sales lead, even though GM says its sales dropped 18 percent for the month. Toyota sales had fallen 21.4 percent for the month. Both companies were hurt by a sluggish economy and poor sales of trucks and sport utility vehicles. GM on Tuesday reported selling 265,937 vehicles for the month, compared with Toyota's 193,234. For the first half of the year, GM sales were down 16.3 percent compared with the year-ago period. Toyota sales were down 6.8 percent for the first six months of the year. THIS IS A B…
Last reply by Brougham-Holiday, -
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How can GM compete with Toyota when GM says in their TV ads 30 or what ever EPA miles per gallon Highway vs Toyota's 31 "mpg rated" Camry or the 36 "mpg rated" Corolla or the 23 "mpg rated" Sienna the 25"mpg rated" Tacoma etc. GM loudly says Highway miles while Toyota's deceives people in to thinking that theirs is City miles. I have seen Hyundai do something similar. Hyundai also say things like fuel efficient on their SUV ads without mentioning what the miles per gallon are. Gm and Ford and Chrysler are going to lose the Mpg battle even more with these miss- leading ads.
Last reply by Newbiewar, -
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Given that the Opel-Saturn thing isn't working as planned why not have Saturn take over the G6's new fleet queen role? Saturn could be GM's mostly fleet (75%?) brand to protect the Chevy and Buick resale values, image. Saturn has a weak image and the image that it has is "budget." Pontiac could be freed to offer 2 cars: the Solstice and G8. Maybe a Kappa based sport sedan later. The Sky gets axed. http://online.wsj.com/article/SB1204568746...=googlenews_wsj Eight-Brand Pileup Dents GM's Turnaround Efforts By JOHN D. STOLL March 4, 2008; Page B1 Michael Maguire has mixed feelings about General Motors Corp.'s coming launch of the Chevrolet Traverse, a seve…
Last reply by longtooth, -
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Hybrids great on gasoline savings but not expense, study finds Based on $5-a-gallon fuel, Edmunds.com ranks the gas-only Chevrolet Aveo hatchback No. 1 in terms of total ownership cost. Honda's partly electric-powered Civic comes in 10th, while Toyota's Prius is 26th. By Martin Zimmerman | Los Angeles Times Staff Writer June 26, 2008 Beating out hybrids, the Honda Fit made it to the top of Consumer Reports' list of 10 most economical new cars. It ranked third on a similar list from Edmunds.com. (Honda) Hybrids may be tops when it comes to saving gasoline, but they're far from the best choice for budget-conscious car buyers, a new study says. The four-door ha…
Last reply by michaelv13, -
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DETROIT (Reuters) - Shares of General Motors Corp hit their lowest level since 1955 and dragged down the auto sector on Thursday after Goldman Sachs cut the struggling U.S. industry's largest manufacturer to a "sell" rating and warned it would have to raise capital. The panicky slide in GM shares capped a period of growing concern about liquidity risks to U.S. automakers and suppliers from a domestic auto market reeling from record gas prices and the impact of a housing slump and tighter credit. The Goldman Sachs warning, including the unusual "sell" call on the U.S. auto industry's largest player after a period of sharp stock price declines just ahead of the close of…
Last reply by Newbiewar, -
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http://online.wsj.com/article/SB121424094257797029.html GM Slates Sweeping Rebates As Toyota Closes In on No. 1 By JEFF BENNETT, NEAL E. BOUDETTE and SERENA NG, June 24th 2008 On the verge of ceding its crown as America's best-selling car company, General Motors Corp. announced further production cuts as well as sweeping new incentives on many 2008 models -- a reversal of recent strategy and a fresh sign of how badly rising gasoline prices are slamming auto makers. GM, Ford Motor Co. and Chrysler LLC have been trying for over two years to back away from heavy incentives, which eat into profit margins and tarnish brands in the eyes of some consumers. But a worsen…
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June 26, 2008 - 3:30 pm ET TORONTO (Reuters) -- Canadian autoworkers acknowledged that General Motors' decision to close a Oshawa, Ontario, truck plant next year was irrevocable, a union leader said on Thursday after a meeting with company officials. "Are we accepting it? Eventually, if someone keeps hitting you over the head with a sledgehammer, you're going to wake up," said Buzz Hargrove, president of the Canadian Auto Workers, said at the union's headquarters. Hargrove said GM told the union it may decide to build a new model in its Oshawa car plant, where the new Chevrolet Camaro muscle car is set to begin production, but he added the situation looked bleak. …
Last reply by CARBIZ, -
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Craig Trudell Automotive News June 24, 2008 - 4:19 pm ET DETROIT -- General Motors, grappling with the dramatic shift in sales from pickups and SUVs to smaller vehicles, said it will adjust production at almost half of its North American assembly plants. The automaker is adding overtime and speeding up lines where its cars and crossovers are made and temporarily closing plants making trucks and SUVs for as long as 12 weeks in the second half of the year. GM is cutting production even after slowing or idling up to 30 plants during the three-month UAW strike at American Axle & Manufacturing Holdings Inc. On Monday, June 23, GM said it plans to reduce picku…
Last reply by Northstar, -
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We have seen the beat on set now it is the Corvette XR1? and a updated Bumble Bee Z/28?. I know the Camaro is one of the two GTO based cars but it has been updated in several areas. The hood and front splitter look to be possible Z/28 parts as the hood would give added clearance for a supercharger and the spitter would give more front down force for the car like on the ZR-1. Also the wheels were used on the Convertable prototype at one point. Also note the black sections on the bumpers that could have the brake cooling and fog lights. Note the headlights look more like the production car as we expect them. Also the Vette XR1 is one I have not see or hea…
Last reply by GMTruckGuy74, -
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Today will see a forum in Pittsburgh, Pennsylvania. What a truly Golden Opportunity. I hope some good will come out of it http://biz.yahoo.com/ap/080625/pa_obama_pittsburgh.html?.v=1
Last reply by CSpec, -
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Jamie LaReau Automotive News June 23, 2008 - 1:45 pm ET DETROIT -- General Motors told dealers in a teleconference today that it would be launching a 0 percent financing sale starting Tuesday, June 24, while raising prices "across the board" for GM's 2009 models. GM executives also told dealers that they plan on making some production shifts and that they hired Citibank to help review the Hummer brand's future. Attempting to boost June sales, GM's Mark LaNeve told dealers in a conference call that GM would be starting what it calls a "72 Hour Sale." The sale starts June 24 and runs through June 30. LaNeve is GM's vice president of vehicle sales, service and ma…
Last reply by regfootball, -
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Fresh off the GM Yahoo Financial page. Jerry also addresses many of the points you've been discussing here. http://www.forbes.com/2008/06/23/gm-chrysl...artner=yahootix
Last reply by regfootball, -
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Here is something a little closer to my GM heart! Just call me one of the troops from Europe! :AH-HA_wink: Ralph Kisiel Automotive News June 23, 2008 - 12:01 am ET DETROIT — On June 10, production of General Motors' hot-selling Chevrolet Malibu threatened to grind to a halt at the Fairfax assembly plant in Kansas City, Kan., because of a computer hardware problem. Enter GM's Global Command and Control Center. The center, in Pontiac, Mich., acts as a window into operations at GM's 185 manufacturing plants around the world. It closely monitors factory networks, servers and critical manufacturing software applications. The center identified and fixed the pr…
Last reply by gmcbob, -
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The Canadian Auto Workers union says General Motors has reversed its decision not to build any hybrid pickups in Oshawa, Ont., and will start assembling a hybrid truck this fall. Click here for the full story. It looks like my next truck . . . being the Hybrid . . . could be another Sierra built in Ontario.
Last reply by CARBIZ, -
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Daniel Jones enters the lions den in an article linked to "Seeking Alpha". He outlines his case for why holding your nose and buying GM Stock is likely a good idea. Well, here's to hoping, and I think that he is 'write-on'. the link: http://seekingalpha.com/article/81751-reco...ng?source=yahoo
Last reply by GMTruckGuy74, -
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http://www.businessweek.com/magazine/conte...ws+%2B+analysis
Last reply by IfICouldWouldYou?, -
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Found this article/video on the GM Yahoo financial site. Ladies, Gentlemen, adjust your portfolios. With all of the good people who are members here, those best at 'seeing around corners' should have fun with this one. I'm hoping. Thanks. the link: http://finance.yahoo.com/tech-ticker/artic...-Investor-Herro
Last reply by Drew Dowdell, -
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With all the cuts GM has anounced here is some good news. GM anounced Lordstown is moving up the start up time for the 3rd shift to August. Sales for the Cobalt are up 17% so they want to get more cars to the dealers sooner.
Last reply by hyperv6, -
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Date posted: 06-17-2008 WASHINGTON — Executives of the Ford Motor Company and General Motors on Monday signed deals with China government representatives aimed at sending more than $1.8 billion worth of U.S.-made vehicles and parts to the automakers' joint ventures in China. The two Detroit-based automakers in recent years have been aggressively buying components from China to help reduce their production costs in North America. The new deal will see products — and revenues — flow in the other direction for a change. Ford said its agreement calls for the export of more than 30,000 North American-built vehicles to China, beginning in 2009. Ford also will send transmi…
Last reply by CSpec, -
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The article written by Jerry Flint spreads the blame around for the dreadful pickle the Domestic Automobile Manufacturers are facing. There is more than enough to go around. Blame that is, not pickles. The Link: http://www.forbes.com/free_forbes/2008/063...artner=yahoomag
Last reply by CARBIZ, -
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Link to Article
Last reply by FUTURE_OF_GM, -
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GM US June sales running about same as past months WASHINGTON, June 12 (Reuters) - General Motors Corp's U.S. sales have been trending about the same as the weak results of previous months, the automaker's president of North America said on Thursday. "We'll make the sales report at the end of the month, but it looks a lot like it did in the previous couple of months," GM North America President Troy Clarke told reporters at an electric car conference in Washington. Through May, GM sales were down 17 percent in 2008. GM posted a 30 percent adjusted drop in sales for May, which pulled its U.S. market share for the month below 20 percent for the first time. Clarke an…
Last reply by regfootball, -
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Toyota will announce a new strategy and a new 'plug in' today. Hint: It has nothing to do with Glade or air fresheners, but it'll roil the atmosphere somewhat. GM's been beating the Volt drum for some time now, and along comes Toyota in an attempt to grab themselves a share of the 'glory' attached to the debate. the link: http://www.freep.com/apps/pbcs.dll/article...1/80611032/1014
Last reply by Intrepidation, -
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Link to article is Here So two things in this article suprise me a little. One is that GM is finally admitting to themselves and the world that the shift to smaller vehicles is likely permanent. The second is that they are considering selling the Hummer brand. I think that would be great if they could dump it.
Last reply by ShadowDog, -
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Really, we need to ask this question -- why should GM obey the polticians' views and comply with CAFE standards? (1) GM and other car manufacturers should decide -- first and foremost -- what kind of cars they build by what the market demands. CAFE is not a ban, CAFE is a penalty law for not falling in line with the opinions of the political leadership. (2) What CAFE say is [if the average fuel economy of a manufacturer's annual fleet of car and/or truck production falls below the defined standard, the manufacturer must pay a penalty, currently $5.50 USD per 0.1 mpg under the standard, multiplied by the manufacturer's total production for the U.S. domestic market]. Th…
Last reply by Hudson, -
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At last a change from the doom and gloom. I hope additionally GM can attract some bright young minds. First, from Geoffrey Helt an article entitled "Can GM -- Yes, GM -- Save Us From $10 Gas?" http://biz.yahoo.com/minyanville/080610/20...ve_id.html?.v=1 Then, from Barron's, Steven M. Sears outlines how to "Profit by Strangling GM". Read on. http://online.barrons.com/article/SB121304...ns&ru=yahoo
Last reply by Camino LS6, -
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Is GM taking too much ill will from the markets and press and too much criticism? GM's every move is bloodied and they can't seem to do anything right in many's eyes. Yet Ford and Chrysler seem to be doing things and FOrd in particular seems to be sliding under the radar lately. Is GM taking too much of a hit? Are GM's issues WAYYYYY overblown?
Last reply by Duncan, -
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TORONTO — Premier Dalton McGuinty says Ontario will continue to offer incentives to the auto sector despite the controversy surrounding the planned shutdown of a General Motors of Canada Ltd. truck plant in Oshawa, Ont. The move by GM, which will affect about 2,600 jobs when it closes next year, will not deter his Liberal government from providing other loans to secure investment, Mr. McGuinty said Wednesday as debate over the closure continued to rage. Nor, he said, would his government think twice about making other loans on the generous terms as the one extended to GM. “It's not something we pull out of the air,” he said. “It's based on what the competition's doi…
Last reply by Dragon, -
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GM stock at $16.41! This is the lowest it has been since 1974, and in 1974 the dollar was worth 5 times what it is now. Is it time to buy or have we not seen the bottom yet? There are some who are saying it will drop to $10 before we see it go up again. What do you all think?
Last reply by CARBIZ, -
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DETROIT -- General Motors' U.S. market share fell below 20 percent for the first time as the impact of $4 gasoline knocked the Detroit 3 into a minority share of the U.S. market in May. The 44.4 percent share not only was the worst-ever showing for GM, Ford Motor Co. and Chrysler LLC, but it was also less than 2 percentage points ahead of the Japanese brands. Led by Honda, Japanese brands gained 5.7 percentage points to finish May with a 42.5 percent share of light vehicles. The Detroit 3 lost 7.4 points. Also in May, GM's U.S. market share fell below 20 percent for the first time since the automaker was formed in 1908. Excluding Saab, GM sold 268,892 vehicles, down 2…
Last reply by Oracle of Delphi, -
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http://www.autoblog.com/2008/05/30/toyota-...ra-in-baja-500/ bet the exec's in Japan aren't too happy about this.
Last reply by Camino LS6, -
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"General Motors plans to purchase Cobasys outright" Shortly after reports of leaky batteries coming from Cobasys, which greatly slowed the production of GM's mild hybrid vehicles, such as the Saturn Vue and Aura hybrids and Chevy Malibu hybrid, comes a report from Automotive News which suggests that General Motors may just purchase the troubled battery maker outright. That's one way to manage the problem, wouldn't you say? Though GM would own 100-percent of Cobasys, some sort of partnership is said to be in the works, though that other entity remains unknown. Before this announcement, Chevron and Energy Conversion Devices, co-owners of the battery supplier, had been …
Last reply by ZL-1, -
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If conditions in the auto industry don't start improving soon, General Motors will have to start looking for coins between the seats of its vehicles. The automaker currently has $24 billion in cash and another $7 billion in undrawn credit lines--plenty of liquidity, it says, to sustain its global operations through 2008. But will it be enough to limp through the economic downturn swamping the company's recovery efforts? Maybe not, say analysts, who expect General Motors (nyse: GM - news - people ) may need to tap the credit markets for as much as $9 billion over the next two years. Not as easy as it sounds. While credit markets are loosening up a bit, GM might have so…
Last reply by ZL-1, -
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Maybe Buickman is right about Rick Wagoner. http://online.wsj.com/article/SB1212489913...hs&ru=yahoo
Last reply by CSpec, -
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GM agreed to continue production of the Impala , (which was to have ended in 2010) through 2012 at its Oshawa plant. :More right here.
Last reply by haypops, -
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MORAINE, Ohio (AP) — The General Motors Corp. plant in this Dayton suburb is a forest of smokestacks that form the nerve center of this industrial community built along the banks of the Great Miami River. Each day, about 2,500 workers file inside to assemble the GMC Envoy, Chevrolet Trailblazer, Saab 9-7X and Isuzu Ascender sport utility vehicles. But some time before the summer of 2010, the Moraine plant will be no more: It is one of four that GM announced Tuesday it will close. And there are fears here that the people — and the city's fortunes — will disappear with it. The loss of the SUV plant will leave behind a bleak landscape for the surrounding community, an …
Last reply by CARBIZ, -
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WILMINGTON, Del. -- General Motors shareholders blasted the company's chief executive for raking in huge salaries and bonuses while the automaker has struggled financially, but a proposal to give investors a say on executive pay was soundly defeated today. Shareholders also defeated a proposal under which at least 75 percent of future stock options and restricted stock awards for senior executives would be tied to the company's performance. John Lauve of Holly, Mich., who sponsored the proposal on performance pay, said GM's market share, stock price and credit rating have decreased in recent years, but management and directors have not been held accountable. "We eit…
Last reply by wildcat, -
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http://money.cnn.com/news/newsfeeds/articl...44_FORTUNE5.htm
Last reply by toesuf94, -
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Link So because US automakers make better large vehicles and therefore sell more they get penalized more? Was CAFE dreamed up by politicians that don't understand math? Seems like required mileage ratings should depend on the class of vehicle. I'm not opposed to gas mileage requirements but it's really not going to force construction companies to trade their 1-ton work truck for a Honda Civic. Trucks are still needed, and this penalizes companies who make good ones and therefore sell more. This is going to hurt US industry more in the process. Did I miss something?
Last reply by BuddyP,
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