Posted in Automotive on Jun 5th, 2009
GM has narrowed its potential buyers list for Saturn down to one, the Penske Automotive Group. According to the New York Times, GM will announce a sales agreement with Penske later today. Penske Automotive Group is led by Roger Penske, famous racecar driver. The Penske Automotive Group currently owns 310 car dealerships across the country […]
Posted in Automotive on Jun 4th, 2009
GM dealerships that won’t have their contracts renewed in October 2010 are being offered between $100,000 and $1 million to go gracefully. According to Left Lane News, GM sent out a “wind-down” agreement to the 1,124 dealers this week that is designed to help ease the franchisees out of GM. The money comes with a […]
Posted in Automotive on Jun 4th, 2009
Toyota and Ford are both increasing production to prepare for an increase in sales this year. Ford will increase its production by 10% for the 3rd quarter of 2009 and Toyota will add 650,000 vehicles to its planned 2nd quarter production, according to Autoblog. The news that both Ford and Toyota are planning on an […]
Posted in Automotive on Jun 2nd, 2009
Mazda announced today that it will be reorganizing in the coming months to focus on the development of electric vehicles. The company will be creating a new department specifically dedicated to developing EVs, according to Left Lane News. Currently, Mazda’s only hybrid offering is the Tribute, which is based on Ford’s Escape. Without a hybrid […]
Posted in Automotive on Jun 2nd, 2009
Insure.com has compiled a list of the top 20 most and least expensive vehicles to insure for the 2009 model year. They ran the numbers for more than 300 cars and found out what a 40 year-old man with a $500 deductible would pay. Topping the list is Nissan’s “budget supercar,” the GT-R. We’ll refrain […]
Posted in Automotive on Jun 1st, 2009
The GTbyCitroen concept car was designed as a showpiece for the Playstation 3 game Gran Turismo 5. The car was never intended to be a production model, but its looks were so striking that Citroen’s parent company Peugeot Société Anonyme, or PSA, is seriously considering a production version of the GTbyCitroen. The GT will cost […]
Posted in Automotive on Jun 1st, 2009
The judge presiding over Chrysler’s bankruptcy case approved on Sunday the sale of the company’s assets to a group consisting of Fiat, the UAW health care trust, and the U.S. and Canadian governments. Nearly all of the objections that threatened to stall the sale were thrown out, according to Reuters. The new company will pay […]
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