Posted in Automotive, GM on Jul 16th, 2009
As the new GM tries to reinvent itself, one idea it hopes will spur sales is to sell its entire line of vehicles on eBay through a pilot program. The program would most likely start in California and if it is a success, it could go nationwide, GM CEO Fritz Henderson said. The program with […]
Posted in Automotive, GM on Jul 7th, 2009
Late Sunday, federal bankruptcy court judge Robert E. Gerber approved General Motors’ plan to sell its good assets to a new, government-backed company, the New York Times reports. The assets sale was necessary for GM to come out of bankruptcy. Without the sale, GM would have had to liquidate by July 10. Judge Gerber heard […]
Posted in Automotive, Bankruptcy, Chrysler, Cost of Ownership, GM, Recalls, Safety on Jun 23rd, 2009
A report by Safety Research and Strategies says that more than 3,400 Americans will be injured or killed by defective GM and Chrysler products in the first year after bankruptcy. Since Chrysler and most likely GM won’t be held liable for any defects on vehicles sold before their bankruptcies, all those people will have nobody […]
Posted in Automotive, GM on Apr 8th, 2009
GM has partnered with Segway to build a prototype two-seat electric vehicle. The Personal Urban Mobility and Accessibility vehicle, or Project P.U.M.A., was shown in New York Tuesday morning. Resembling a stripped-down golf cart, or a Segway you can sit in, the electric P.U.M.A. prototype (pictured below) can travel up to 35 miles per hour […]
Posted in Automotive, car buying incentives, GM on Apr 1st, 2009
GM is also jumping on the car loan payment protection bandwagon. The automaker announced its plan Tuesday, named GM Total Confidence. GM will cover up to nine months of auto loan payments up to $500 for buyers who lose their jobs “for economic reasons”, CNN Money reports. The payment protection plan is good for the […]
Posted in Automotive, Chrysler, GM on Mar 30th, 2009
GM and Chrysler’s viability plans were due this week to the government as a condition of receiving more loans to help keep the automakers’ doors open. Obama’s administration said neither plan would be good enough. The Obama administration even asked GM CEO Rick Wagoner to resign, which he did Monday morning. While Chrysler and GM […]
Posted in Automotive, Chrysler, GM on Mar 20th, 2009
With GM and Chrysler’s future in limbo, consumers who actually are in the market for a new car are choosing foreign brands over domestic, according to survey results released Thursday. Bankruptcy has been mentioned for both GM and Chrysler and with their futures so uncertain, shoppers are reluctant to buy from the two struggling automakers. […]
Posted in Automotive, Chevrolet, GM, Muscle Cars on Mar 18th, 2009
GM will start building the 2010 Chevrolet Camaro today at its Oshawa Car Assembly plant in Canada. When the Camaro rolls off the assembly line, it will join its rivals, the Dodge Challenger and Ford Mustang, in a three-way muscle car competition. The three vehicles haven’t been sold at the same time as new models […]
Posted in Automotive, GM on Mar 5th, 2009
GM’s auditors have raised substantial doubt that the automaker can continue operations, and the company said it may have to seek bankruptcy protection if it can’t implement a huge restructuring plan, the AP reports. “The corporation’s recurring losses from operations, stockholders’ deficit and inability to generate sufficient cash flow to meet its obligations and sustain […]
Posted in Automotive, GM on Feb 26th, 2009
General Motors posted a $9.6 billion net loss in the fourth quarter of 2008, and burned through $6.2 billion in cash during the same period. GM ended the quarter with $14 billion in cash, reports CNN Money. The automaker received part of a bailout loan from the government at the end of last year […]
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