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Should The CEO's of Detroit's Big 3 Step Down?

| среда, 30 сентября 2009 г.

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Today Congress is meeting to discuss the details of the $25 billion bailout plan for U.S. automakers. Debates are going back and forth from both sides on how to solve this problem. Some senators are now even saying that the CEO's of the Big 3 should consider stepping down from their positions if that is what it will take for Congress to approve the plan.

During an interview yesterday on NBC’S “Meet the Press”, Michigan Sen. Carl Levin stated I’d be happy to tell (GM CEO) Rick Wagoner that he ought to consider resigning if that is the difference between getting this kind of support and not. If it was the difference between getting this kind of support or not, obviously the management should consider resigning."



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GM May Delay Chevy Cruze and Next-Gen Malibu

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GM is definitely going through some hard times with the declining US market and still managing to blow through $1 billion bucks a month.

GM is trying to cut costs across the board, which may lead to a delay in the introduction date of the new Chevy Cruze and the next-generation Chevy Malibu. Last week it was announced that the upcoming Cadillac CTS Coupe and next-gen Buick LaCrosse are being delayed. Now BusinessWeek is reporting that the Chevy Cruze is going to be delayed a year until 2011 (2012 model) and the next-generation Chevy Malibu is going to be delayed 6 months until 2013.

The delays are expected to help GM save some money, but is it smart to delay the introduction of the Cruze? GM needs more quality small cars in its lineup and 2011 is not soon enough.



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GM Shoots for Number 1 with the Chevy Traverse

| суббота, 26 сентября 2009 г.


GM recently introduced the all-new Chevy Traverse crossover that is based on the same architecture as the Buick Enclave, Saturn Outlook and GMC Acadia. GM is hoping that the Traverse will have what it takes to grab the number one sales spot in the large crossover segment.

Currently Toyota and Honda own the segment with the Highlander and Pilot. Last year Toyota sold 127,878 Highlanders and Honda sold 117,146 Pilots. Chevy boss, Ed Peper claims that the Traverse can beat both of them.



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2008 Saturn Flextreme Concept

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2008 Saturn Flextreme Concept
2008 Saturn Flextreme Concept

The 2008 Saturn Flextreme may still be a concept, but it is another example that General Motors is serious about putting advanced, fuel-efficient hybrids on American roads in the not too distant future.  They had better be.  The long-term financial health of GM is staked in the success of cars like the Flextreme and Volt.  The “Not so distant future” is the standard answer out of Detroit regarding timelines for production of electric vehicles.  So when will the Saturn Flextreme be made? 2010.  Isn’t it great that the “not so distant future” is becoming the present?

Flextreme Concept
Flextreme Concept

The Flextreme is the automotive sequel to the Chevy Volt, and a reskinned GM-owned Opel with Saturn badging. Aside from the badge changes,what’s important about this Saturn is the progress that it demonstrates. The ecologically minded plug-in Saturn features pure electric propulsion. One motor drives both front wheels.  The on-board three-cylinder 1.3-liter turbo-diesel is only used to charge the car’s lithium-ion battery pack. The batteries may also be charged by a standard household current in about three hours. Running on just electricity, the Flextreme is capable of driving up to 34 miles before the diesel engine starts up to charge up the batteries. This range, GM claims, will enable many drivers to own the vehicle for months or years without ever traveling far enough to require the Flextreme’s diesel engine to run during their normal commute, providing completely emissions-free operation.  Driving range after leaving the house with a fully charged battery pack and a full tank of ultra-low-sulfur diesel is estimated to be 444 miles.  Super low aerodynamics play a huge role in achieving greater driving range on electric-only power. According to GM, aerodynamics ar even more important than weight, so the Flextreme is stylistically designed to improve its aerodynamic drag.

Nice Blind spot!
Flextreme: Nice Blind spot!

Saturn continues to share design elements from Opel and will continue to do so with the replacement models of the Vectra and Aura. The base of the hood is pushed way forward, conventional stick-out rear-view mirrors are replaced by flush-mounted rear-view cameras, there are no exposed door handles, and the trailing edge of the roof remains high. Each of these design elements help smooth the flow of air over the car, making it easier for the electric motor to do its job.  While the wheels look to have conventional spokes, the wheel face doesn’t create energy-robbing turbulence, another mpg-increasing touch.  The design of the Flextreme also features “FlexDoors” and “FlexLoad” systems. The FlexDoors utilize conventionally opening front doors with reverse opening rears.

with FlexLoad system
Flextreme: with FlexLoad system

The FlexLoad system is more unusual, and consists of an electrically powered load floor that literally hands you your stowed luggage. In keeping with the electrically-powered theme of this concept, the Flextreme carries twin Segway scooters in its cargo compartment. 

I’m skeptical about how many  of these various concept elements will make it into a production vehicle, but at least you will have the opportunity to drive an electric car before you know it.



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Fed grants GMAC bank holding status

| вторник, 8 сентября 2009 г.

Filed under: , ,

GMAC - and ergo General Motors - just got another Christmas present: the Federal Reserve has granted GMAC bank holding status. GMAC has billions of dollars of bonds coming due over the next 12 months, but doesn't have the liquidity to cover the obligations. As of last week, the financing company was in the midst of a bond buyback effort in order to raise enough money to qualify for bank holding status. Now that it's been granted, GMAC can tap the Troubled Asset Relief Fund intended for financial institutions, pay its debts and (probably) avoid bankruptcy.

It isn't clear, however, whether or not GMAC actually raised enough money through the bond buyback. The Fed said "emergency conditions" justified its actions, which makes us think the Fed just said "Here, take it." Looked at from a dealer perspective, it makes sense: if GMAC had gone under, one dealer estimated that it would have taken 30-40% of GM dealers down with it, and that could imperil GM itself. It wouldn't make much sense to let that happen when the government just loaned GM a bunch of money to stay in business.

And while GM is still a long, long way from getting the kind of money that any number of banks have, it's still beginning to add up. As a result of the new status, both GM and Cerberus are required to lower their stakes in GMAC. Cerberus has been told to lower its share to 33%, down from 51%; GM has said it will go below 10%. As for Cerberus' other headache, Chrysler Financial, it has said that if dealers don't stop making a run on its funds, it will cease financing for dealer inventories.

[Source: Yahoo!]

Fed grants GMAC bank holding status originally appeared on Autoblog on Wed, 24 Dec 2008 19:57:00 EST. Please see our terms for use of feeds.

Read |  |  | 


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Another White Chevy Camaro Caught in Florida!

| воскресенье, 30 августа 2009 г.

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Another forum member at Camaro 5 has caught more photos of the 2010 Chevy Camaro, this time its in white.



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Barack Obama Will Not Meet Rick Wagoner Without Preconditions [Financiapocalypse]

| вторник, 25 августа 2009 г.

Barack Obama took time away from talking about his mother-in-law and a college football playoff system to talk about the automaker bailout in an interview on CBS' 60 Minutes. While admitting Detroit needs help, he said it's important to make sure it's conditioned on the stakeholders (labor, suppliers, execs) coming up with a plan for a sustainable domestic auto industry as opposed to just giving out "a bridge loan to nowhere." Oh, yes, he went there. This was taped before the scary GM video, which at the very least we're hoping, convinced him to buy a Save GM t-shirt.



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Detroit’s Woodward Dream Cruise 2009

| суббота, 22 августа 2009 г.


Detroit’s annual Woodward Dream Cruise rolled into town this weekend along with droves of visitors looking to get in on the fun and Cruise Woodward. The estimated attendance was to the tune of just over 1 million visitors, which is said to be a few hundred thousand less than last year, although I’m not sure exactly how you’d go about counting everyone. Despite the Los Angeles-style traffic that comes with so many visitors, the boost in the economy is more than welcome around these parts. I even saw a few nuns, of all people, hustling visitors for their prime parking spots at a church parking lot. Well done sisters!

For Detroiters, it was a pleasant surprise to see the American automakers on hand and still showing their support for the event. Ford went as far as shutting down a portion of 9 mile Rd. in Ferndale,MI to turn it into Mustang Alley, lining both sides of the street with Mustangs from all generations and styles. It was pretty impressive such a variety of Mustangs including the original Shelby’s from the mid-60’s.

Continue reading and view more photos at MotorMavens.com



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Jalopnik's 2009 Pickup Truck Comparison Head-To-Head Jubilee Event Challenge Spectacular! [Jalopnik Reviews]

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We've had an abnormally high number of pickup truck first drives recently — the 2009 Ford F-150, the 2008 Toyota Tundra, the 2009 Chevy Silverado and the 2009 Dodge Ram. Why? Because we've been working in conjunction with PickupTrucks.com to bring you a full blown comparison on the 2009 models of every half-ton truck currently for sale in the 'merican market and here it is. It's got all the numbers on towing, handling, braking and acceleration — everything a serious truck buyer could ever need. Frankly, that's the easy part. The subjective determination of which one's the best? That's harder to nail down, but it's what we're here for.

2009 Pickup Truck Comparison: Auto Cross

2009 Pickup Truck Comparison: Braking Challenge Results

2009 Pickup Truck Comparison: Drag Strip Acceleration Results

2009 Pickup Truck Comparison: Towing Results

The competitors represent some of the best engineering from the minds of both Detroit and Japan, entrants this year include the 2009 Chevy Silverado 1500, the 2009 Dodge Ram 1500, the 2009 Ford F-150, GMC Sierra 1500, 2009 Nissan Titan, and the 2008 Toyota Tundra. Competition has driven the capabilities of trucks forward in such a way that this modern crop will do more than their forebears could even conceive. However, this relentless march of capability has left us at a point where numbers no longer relate to real world usability and as such the competitors have begun to differentiate. The Ram with its new focus on ride and handling, the Titan is a bit more athletic, the F-150 is the heavy hauler, which leaves the GM twins as the remaining set of do-alls in a crowd of specialists.

Crowning A Champion>

We're going to come right out and say reviewing trucks is, in a way, a bit silly. Trucks, and specifically the half-ton truck segment, are frequented by some of the most loyal product buyers in the world. Magazines and websites opining passionately on the newest offerings don't really matter for these buyers. Reviews speak primarily in this segment to first-time truck buyers, and these days those are few and far between.

But, that being said, we must crown a winner. If we go by the numbers, it's the 2009 Ford F-150 that emerges as the winner when balancing capabilities against performance, finishing at or near the top in every category. But the absolutes of the statistics leaves out the subjective feel of these trucks and ignores that people buy them for different reasons.

But, saying the Ford is the best of the bunch is simply unfair. Is it the most well-rounded? Yes. But what about the most fun to drive? Certainly not. Is it the best styled? That's up to you. Does it have the best interior? Nope. So why is it the best? It just does everything well. The F-150 is, for lack of a better term, the working man's truck. The new F-series offers the greatest capabilities and the best long-term value resting on top of a long history of accolades. It really is a great pickup, but that's not to say it's everybody's cup of tea.

Then there's the Nissan Titan, which objectively scores in last place among the competition. If we were to build a truck for the person who occasionally needed the capabilities of a truck, wanted something incredibly entertaining on the street, offered reasonable fuel economy and a no-nonsense interior. We'd be hard pressed to build something more fitting than the Titan. Think Nissan Altima in truck form.

That's not to say that nobody wants a monstrously big pickup able to out-tow almost everything, rides like an old Cadillac and has an interior you can live with if you don't look too closely at the details. That would be a slot perfect for the Tundra. A truck so good at doing its job you actually overlook it as trying too hard and delivering where it almost doesn't count anymore.

And what of the Silverado and GMC Sierra? They run down the same assembly line, but have vastly different characters. The Silverado finishes a close second to the the F-150 by the numbers and, depending on what you're looking for, could be a better truck. The GMC feels better but somehow doesn't reflect so in the scoring. In fact, when pressed to make an overall choice, we'd be in a pickle to choose the Titan or the Sierra, the two "losers" in the field. Goes to show how much personal preference plays into the decision.

Anyway, if there's one thing we learned over our two day pickupgasm, it's this — there's a truck out there for everyone who wants one. Unfortunately, there's just not that many people who want them right now.



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Wagoner: Chevy Volt could cost less than $30k

| вторник, 18 августа 2009 г.

Yes we’ve already told you that GM’s Chevrolet Volt prototypes are hitting 40 miles on electric power alone; and yes we’ve told you that 20,000 people have shown interest in the...



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CNBC's Jim Cramer: "Save GM...Or Risk A Great Depression!" [Financiapocalypse]

| понедельник, 17 августа 2009 г.

In between ads for CNBC's "Business of High End Prostitution" documentary airing tonight, we noticed the network's mega-mouthed Wall Street money mad-man says it's time for policy makers to "save GM" or else risk "10% unemployment" and the "Great Depression." We happen to think Jim Cramer's right. Is that Socialism? Who cares — we just read bankruptcy won't even be able to help GM because of their inability to secure financing after a declaration of Chapter 11. Yup, it'd be straight to Chapter 7 for the big automaker from Detroit. But, word on the street is that Pelosi's going to call for legislative help during the current lame duck session of Congress. Glad to hear it, because remember, the Financiapocalypse waits for no man, automaker or money maven!



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2008 Cadillac CTS Wins Motor Trend's "Car of the Year" Award!

| вторник, 11 августа 2009 г.

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Motor Trend has announced the winner of their coveted "Car of the Year" award and this year the award goes to the 2008 Cadillac CTS.



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