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Ending months of negotiation and speculation, General Motors has halted the sale of its European Opel division. GM has cited improving business and the importance of Opel/Vauxhall to its global operations as the reasons for the reversal. GM today posted its October sales figures, showing the first gain in 21 months. The news came hard on Magna International, which had been working with the German government, GM, and partners on acquiring Opel. Known as a major parts supplier, Magna is a large, diverse company that has grown to become a manufacturer-for-hire for several automakers, and this purchase would have been a natural expansion for its business. “GM will soon present its restructuring plan to Germany and other governments and hopes for its favorable consideration,” said Fritz Henderson, president and CEO. “We understand the complexity and length of this issue has been draining for all involved. However, from the outset, our goal has been to secure the best long term solution for our customers, employee, suppliers, and dealers, which is reflected in the decision reached today. This was deemed to be the most stable and least costly approach for securing Opel/Vauxhall’s long-term...
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It is the week ending October 16, and we have browsed our favorite automotive blogs all week long to gather the highlights from each....
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General Motors happily reports that since launching their 60-day love-it-or-return-it guarantee, only one buyer from 150,000 new-vehicle purchases has returned their new GM car, and actually he exchanged it for the same car but with a different transmission. “Out of hundreds of thousands, the people who've selected the 60-day guarantee were in the hundreds,” GM's marketing chief Bob Lutz said during a press conference Wednesday. “We have had one substantiated return of a vehicle.” Actually, of the 150,000 vehicles sold since the sales campaign debuted, only 100 people have opted for the 60-day return offer. The rest of the buyers each chose to take $500 cash. That's $74,900 in sales incentive "costs" the the automaker ... about the value of one nice Vette or a CTS-V ... and an indicator that a lot of people love cash and/or have faith they'll be happy with their new GM purchase decision 60 days down the road. ~ Deborah Neal, Editorial Director, autoMedia.com
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Maybe it was a marketing ploy, or maybe GM's marketing chief Bob Lutz had a change of heart. After announcing that GM would not be holding the fall season truck sale in order to focus on their new "May the Best Car Win" campaign, Lutz has decided to hold a fall truck sale after all, starting tomorrow, September 25th. So what is GM said to be offering you on Chevrolet and GMC trucks? According to a report today in Automotive News: $1000 cash on many GMC 2010 trucks, crossovers and SUVs, including Buick Enclave $500 cash on 2009 and 2010 GMC Canyon pickup trucks Zero percent financing for 60 months on all Chevrolet Silverado and Colorado trucks, plus the 2010 Chevrolet Malibu sedan $1500 cash on 2010 Chevrolet Malibu models $1000 on 2010 Chevrolet Impala sedans, Traverse crossovers, Tahoe and Suburban SUVs, and Silverado and Avalanche trucks The caveat right now, according to some Chevrolet and GMC dealers, is that they currently do not have a lot of 2010 models in stock. The fall sale ends November 2, 2009. Ford's fall truck sale opened September 10 and ends October 5, 2009, with incentives as much as $4500 on F-150 model line trucks and $5000 on F-Series Super Duty...
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It's the week ending September 11, 2009 and we've browsed our favorite automotive blogs all week long to gather a collection of what we feel is the highlight from each. Big news is General Motors' announcement of a 60-day money-back guarantee , that will allow eligible buyers of new Chevrolet, Buick, GMC and Cadillac vehicles that will allow customers to return their vehicle to their dealer between 31 and 60 days of purchase and receive a refund of the purchase price for the vehicle. Sneak Peeks from the upcoming Frankfurt Auto show are everywhere to be found! AutoBlogGreen has news and photos of the Mercedes-Benz S 500 plug-in electric Hybrid set to Debut in Frankfurt next week. The luxury PHEV features a 3.5-liter V6 gasoline engine and a 44 kW/60 hp electric motor that promise the S 500 Hybrid races from 0 to 62 mph in 5.5 seconds, while also offering more than 70 miles per gallon. Race on, Treehuggers! MotorTrend's Frankfurt preview is live now, with first looks at more than a dozen of the cars set to be revealed next week. They've got everything from the Audi R8 Spyder, Lamborghini Reventon Roadster, Lexus LF-Ch and BMW Vision EfficientDynamics concepts. The...
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As another step towards boosting consumer confidence in the brands, General Motors will now offer a Satisfaction Guarantee to eligible buyers of new Chevrolet, Buick, GMC and Cadillac vehicles which allows customers to return their vehicle between 31 and 60 days of purchase and receive a refund of the purchase price for the vehicle. The new Satisfaction Guarantee is in addition to GM's existing warranty coverage, which includes a transferable 100,000-mile/five-year (whichever comes first) limited powertrain warranty, roadside assistance, and courtesy transportation. The warranty is part of GM's larger "May the Best Car Win" marketing campaign that demonstrates the manufacturer's confidence in its vehicles when compared head-to-head with the most competitive vehicles in each vehicle segment. The moneyback guarantee will be offered between September 14 and November 30, 2009. "We're putting our money down that if people buy one of our vehicles and don't absolutely love it, we'll take it back. We will stand behind them both in the short-term and over the long haul," said Bob Lutz, GM vice chairman, Marketing and Communications. It's clear...
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It's the week ending August 21, and we've browsed our favorite automotive blogs all week long to gather a collection of what we feel is the highlight from each. Big news involves the end of the CARS rebates on Monday, as once again the Feds predict the money will run out over the weekend....
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No one likes to have their children criticized, but General Motors took to heart feedback it received at a recent future product showcase held for employees, potential customers, dealers, media, analysts, and others. (Read: “ 25 in 24: GM Reveals New Models for its Core Brands .”) The diverse panel were very interested in the future Chevrolet Aveo, Spark, and Cruze, and it even lauded the upcoming Cadillac line. However, a Buick crossover expected to go into production in 2011 was not well received. The vehicle was a badge-engineered next-generation Saturn Vue, notable for offering a plug-in hybrid variation. While this sounds like a slam-dunk, those who have seen it feel otherwise. And GM is responding to the feedback. Word has it that the two-mode hybrid powertrain will live on in another vehicle. GM Vice Chairman Tom Stephens said: “The Buick crossover we showed received consistent feedback from large parts of all the audiences that it didn’t fit the premium characteristics that customers have come to expect from Buick.” You may recall that this was the Buick compact crossover I announced in Traverse City a few weeks ago, with a plug-in hybrid version to accompany it — this is not...
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One month after it emerged from bankruptcy, General Motors reintroduced itself on Tuesday by revealing to journalists an array of all-new cars, crossovers, and trucks that will be debuting now through 2011. ...
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As part of the austerity program accompanying its emergence from bankruptcy, General Motors is ending long-standing sponsorship contracts to slash unnecessary costs. The move follows on the heels of the company’s announcement Friday that it will be cutting 25-35 percent of its workforce, and reducing nameplates from 48 to 34 within a year. According to a report at The Detroit News : ”A federal judge Monday let General Motors Co. shed dozens of sponsorship deals and pricey perks that included VIP suites at international speedways, naming rights for a Lansing baseball stadium and Times Square billboards.” The move frees General Motors from millions of dollars in marketing, sponsorship, and promotions-related expenses, most of which are deemed unrelated to core operations, especially now that the company has announced it will be focusing its efforts on Buick , Cadillac , Chevrolet , and GMC . Among the cuts are even seats at major motorsports venues, including Daytona, Dover, and Richmond NASCAR tracks. ( Click here to download a complete list of affected sponsorships.) Earlier this year, General Motors ended several sponsorships with such high-profile celebrities as PGA golfer Tiger Woods...
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As General Motors emerges from its bankruptcy today, GM President and CEO Fritz Henderson led a "state of the company" address this morning, describing the immediate priorities for the new General Motors. It's been only 40 days since the company filed its bankruptcy plan on June 1, 2009....
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The General is racing through its bankruptcy proceedings, with victory lane in sight, where the troubled automaker will arrive leaner, meaner, and better positioned for long-term success. A key milestone was reached Sunday when Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York approved the sale of substantially all of General Motors Corporation's assets to the new GM. Through the 363 asset sale, the new company will carry on with the “best” parts of the old corporation, officially known as Motors Liquidation Company. Among the key assets are just four brands: Buick, Cadillac, Chevrolet, and GMC. Separately, GM has said it will withdraw from the NUMMI cooperative factory venture with Toyota, where the Pontiac Vibe was built in California. The new GM's common stock will be owned by: U.S. Department of the Treasury: 60.8 percent UAW Retiree Medical Benefits Trust: 17.5 percent Canada and Ontario governments: 11.7 percent The old GM: 10 percent The judge's order included a four-day stay before closing of the sale can occur, allowing for appeals to be heard.
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When Buick revealed its 2010 LaCrosse, people were impressed by its gorgeous looks, and well-positioned pricing that makes it competitive in the luxury sedan marketplace. However, the biggest news was that it will also feature a fuel-efficient, direct injected 182-horsepower/2.4L four-cylinder Ecotec engine. Backed by a fuel-saving six-speed automatic transmission, this new powertrain combination is expected to deliver fuel economy of 30 mpg highway and 20 mpg city - making LaCrosse one of the most fuel-efficient cars in its segment. "Buick LaCrosse customers will have the fuel-efficient option of the Ecotec 2.4L direct injection engine, a four-cylinder that is not available by key competitors, such as the Lincoln MKZ and Acura TL," said Susan Docherty, Buick-Pontiac-GMC vice president. The Ecotec 2.4L four-cylinder joins the lineup later this year as the standard engine in the LaCrosse CX. Direct injection technology helps it deliver 182 horsepower (136 kW) and 172 lb-ft. of torque (233 Nm). Buick expects about 25 percent of customers will opt for 2.4L-equipped models. Also offered are a 255-horsepower/3.0-liter direct injection V-6, and those thirsty for more power can also...
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Chevrolet has revamped its compact crossover Equinox with a stylish new design that reminds of a slightly smaller Enclave, while adding an assortment of convenient technology, and new more-efficient powertrains that promise highway fuel economy as high as 32 mpg highway and a cruising range farther than 500 miles....
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So the wondering is over: General Motors has followed Chrysler into bankruptcy , and the automotive world continues to turn. After weeks of speculation , General Motors has outlined a plan for the company, promising to reinvent itself and "create a leaner, stronger "New GM" positioned for a profitable, self-sustaining and competitive future." "Today marks a defining moment in the reinvention of GM as a leaner, more customer-focused, and more cost-competitive company that, above all, can quickly generate winning bottom line results," said Fritz Henderson, GM president and CEO. "This new GM will be built from the strongest parts of our business, including our best brands and products." This new future is made possible thanks to agreements made with the U.S. Treasury and the governments of Canada and Ontario, as well as additional partnerships made by GM Europe with the German government, as well. According to Yahoo.com General Motors "will rely on $30 billion of additional financial assistance from the Treasury Department and $9.5 billion from Canada. That's on top of about $20 billion in taxpayer money GM already has received in the form...
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