May29
DETROIT -- General Motors plans to start telling more dealerships that they will be terminated when their franchise agreements expire in 17 months. Two sources familiar with GM's strategy said the automaker planned to shutter as many as 450 additional stores beyond the 1,124 announced on May 15. In an interview late Thursday, GM sales chief Mark LaNeve said the figure is "less than half" that many.
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Volkswagen Eos White Night special-edition The new Volkswagen special-edition Eos White Night is big on contrast, with a Candy White body offset by a Deep Black Pearlescent roof, side mirrors, and radiator grille. The look is an interesting one,
WASHINGTON -- The Obama administration plans to inject $30 billion into General Motors on top of the $19.4 billion it has already lent as part of a sweetened offer to bondholders, senior administration officials said today.
May26
Audi AG is the only German premium automaker that has committed to giving its workers a profit-sharing bonus for 2008. The German automaker will pay 157 million euros ( 219.6 Million Dollars) in bonuses by the end of this month. That works out to be an average of 3,600 euros per person. Faced with the need to cut labor costs, Daimler AG's management and union decided last month not to pay out a
Volkswagen unit loans Porsche $980 million dollars STUTTGART, Germany (Reuters) -- Porsche confirmed on Monday it got a 700 million euro ($980 million) loan from its Volkswagen unit but insisted it could cope with its debt woes."Porsche is not on the verge of insolvency even if that is alleged over and over," a company spokesman said, referring to media reports about the German group whose takeover of VW has stalled, forcing it instead to seek a merger with VW.
May22
GM reaches deal with Canadian Auto Workers unionAfter two weeks of intense negotiations, General Motors Canada and the Canadian Auto Workers (CAW) union have reached a deal that will help the automaker cut costs, allowing it to meet the terms for additional government loans. Ken Lewenza, head of the CAW,
2010 BMW 5 Series Gran Turismo Despite the departure of controversial lead designer Chris Bangle, BMW is showing no signs of returning to the "One sausage, three-sizes" styling brief that it once adhered to. The latest proof of this is the announcement of the
May21
General Manager & Dealer Principal Information The UAW says it has reached a tentative new contract with General Motors and the U.S. Treasury Department aimed at helping the automaker restructure. The terms include reworking $20 billion in debt owed to a UAW-administered retiree health care trust known as a Voluntary Employees' Beneficiary Association, or VEBA, the union said in a statement today.
May19
Government regulators will get their prize of higher fuel-economy standards, and automakers will get the certainty of a national emissions standard, under new rules to be proposed Tuesday by President Barack Obama. The fleet average fuel economy for automakers will rise to 35.5 mpg in 2016 under the president's proposal--10 mpg more than today's mandate. At the same time, the president's proposed rule will cut carbon emissions, thought to be a key factor in global warming.
Daimler takes 10 percent stake in Tesla Motors Daimler AG has acquired an equity stake of nearly 10 percent of California electric car maker Tesla Motors Inc., During a press conference held at the Mercedes-Benz Museum in Stuttgart this morning. Daimler said its stake in Tesla will allow the companies to collaborate even more closely
May18
The UAW expects a crucial round of restructuring talks with General Motors "to intensify this coming week" ahead of an end-of-May deadline set by the Obama administration.
In an e-mail message sent to rank-and-file workers, the union also repeated its opposition to GM's plans to close 16 U.S. manufacturing plants and cut about 21,000 jobs while also planning to increase vehicle imports from GM plants in lower-wage economies such as Mexico, South Korea and China.
May15
GM will be Closing 1,124 dealerships.
DETROIT -- General Motors has told 1,124 dealerships, most of them small and considered to be poor performers, that their GM franchise agreements likely won’t be extended past October 2010. But the letters, which are arriving today, say dealers can appeal the decision.
May14
Chrysler closings 789 of its U.S. dealerships by June 9 DETROIT -- Chrysler LLC’s plan to eliminate a quarter of its U.S. dealerships by June 9 means the vast majority of the surviving stores will sell the Jeep, Dodge and Chrysler brands under the same roof -- a longstanding
Porsche Panamera in production
It is here!! After years of anticipation and ramp-up, Porsche has finally begun production of the Panamera four-door model at its factory in Leipzig. But don't take our word for it, you can go and see for yourself as the German automaker has re-opened the factory to the public.
May12
Right now, cash is king in the automotive world, and Ford Motor Company is looking to raise some serious greenbacks with 300 million shares of common stock. The money will be used to fund automotive operations, with a portion of the payments Ford is required
May07
The small town of Tracy, CA is the place to buy a new car! The municipality is giving away 800 $500 gift certificates to any one of the city's car dealerships and the dealers apparently love the program. Auto Sales in the region are down 50% versus previous years, and a Volkswagen store has already closed, and a Cadillac/Pontiac/GMC store is set to follow suit at the end of this month.
May06
2010 VW Scirocco GT with a new 2.0-liter TDI Diesel The Europeans just got another turbocharged diesel engine option for the Volkswagen Scirocco, The new Volkswagen Scirocco TDI won't be making its way to America making us more jealous. The new powerplant is the same unit that VW recently introduced in the Golf GTD
Chrysler offers up to $6,000 worth of incentives As of May 6 2009, Chrysler is offering $4,000 Consumer Cash on all 2009 model year Chrysler, Dodge and Jeep vehicles. But that's not all, if you own a current vehicle from one of those three brands, you get an additional $1,000 off on most 2008 and 2009 models (Chrysler doesn't say which ones in its press release after the jump, though). But wait, th
May05
GIRLS OF THE AUTO SHOW
Within the past year we have seen some of the most beautiful automobiles on our blog site. From the Bugatti to the Rolls Royce but we neglected to show some you the hardest workers at the auto shows. The models of the auto show are some of the most exposed hard working people there. They are required to look pretty and work
Hyundai Nuvis The Hyundai Nuvis concept was revealed at this past 2009 New York Auto Show. The sweeping creases echo and expand upon Hyunadi's design direction that could be seen on the Genesis coupe and sedan and the Korean market Equus that stood on display nearby. Like so many other concepts at the show this year, this one featured doors that will almost certainly not be duplicated in production, extra-long gull-wings in this case.
May01
APRIL 2009 AUTOMOTIVE SALES BY THE NUMBERS Ford, Honda and General Motors posted their smallest sales declines of the year in April, while Nissan and Toyota had their largest, as the industry improved from depressed levels of February and March. Drops of 33 percent at Ford Motor Co. and GM were in line with ana