GM

Watch Lingenfelter Chevy Camaro ZL1 hits 202 MPH Video

David Walker, LeaseTrader.com — Wed, 09 May 2012 19:50:39 GMT

Watch Lingenfelter Chevy Camaro ZL1 hits 202 MPH Video

When Lingenfelter Performance Engineering announced it had crossed the 200-mph mark in its tuned Camaro ZL1, the man guiding the wheel was Hot Rod editor-in-chief Dave Freiburger. We saw a short video of the run in the 702-horsepower – that's at the wheels – coupe, but in the latest episode of Hot Rod Unlimited, Freiburger offers the long-form backstory of what it took to get to 202.6 mph exactly.

Continental Tire's proving grounds in Uvalde, Texas aren't Italy's Nardo Ring (where the 2013 Shelby GT500 did 202 mph), and there was much more involved than keeping steady on the straights and hanging on the banks.

Legal loophole - GM still continues to avoid paying its federal taxes -

David Walker, LeaseTrader.com — Mon, 07 May 2012 18:21:46 GMT

Legal loophole - GM still continues to avoid paying its federal taxes -

The United States tax code will never be accused of being simple or easy to comprehend. With a tangle of exceptions and loopholes, individuals and corporations can work their way around paying their full income tax rate with ease.

According to The Detroit News, General Motors continues to avoid paying its federal income taxes since the company exited bankruptcy. In 2008, the Treasury Department ruled that the automaker could use $18 billion in losses from "old" GM to offset any profits. That means from a tax perspective, GM still hasn't earned enough money to overcome its losses. The automaker has raked in more than $13 billion since 2009.

Of course, GM isn't the only company dodging the federal income tax. Ford, for example, payed $268 million in worldwide income taxes last year, despite claiming an income of $7.8 billion. Likewise, since Chrysler Group, LLC. is a limited-liability partnership, it isn't required to pay federal income taxes. According to The Detroit News, very few companies pay the full 35 percent federal corporate income tax rate.

But that doesn't mean GM or other companies get off entirely. GM says it pays considerable state taxes, and the company reports that its global tax rate for 2012 may jump to 12 or 13 percent, up from an earlier estimate of 10 percent.

News Source: Autoblog via The Detroit News

2012 Camaro ZL1 runs quarter mile in 11.93 seconds - Joins the 11-second Club

David Walker, LeaseTrader.com — Mon, 07 May 2012 18:14:52 GMT

2012 Camaro ZL1 runs quarter mile in 11.93 seconds - Joins the 11-second Club

We've taken the bone-stock 2012 Chevrolet Camaro ZL1 down the quarter-mile drag strip at Bondurant in Arizona several times. The very first pass we made netted us a time slip in the mid-12-second range. That's an impressive performance for a car wearing road-legal radial tires with zero preparation and a driver familiarizing himself with the car.

We instantly knew this car was capable of more, and wondered how long it would take before we saw our first elapsed time in the 11s. Turns out the wait is over.

General Motors itself is the perpetrator of the blazing-fast quarter mile. Chevrolet engineers took two completely stock ZL1 coupes to Milan Dragway in Michigan – one automatic and one manual – and recorded a best pass of 11.93 seconds at 116 miles per hour. That was with the automatic; the row-your-own model managed 11.96 at 117 mph.

Those looking to drag their new Camaro ZL1 ought to be pleased with this news. But even if your race track aspirations lean more toward a curvy strip of asphalt, the baddest production Camaro ever made has you covered. Consider its Nürburgring lap time of seven minutes and 41 seconds as proof of its prowess.

Likely sensing that there would be plenty of Ford fans skeptics demanding proof of its quarter mile performance, Chevrolet has released a video showing off its drag strip exploits at Milan. Scroll down below for the video, along with the related press release... and join us in waiting for a response from Ford.

*UPDATE: We've placed a call to Chevrolet inquiring whether these times were recorded on stock tires, as the press release indicates, or on drag radials. We'll add another update as soon as we hear back.

*UPDATE TWO: The times quoted in the press release – 11.93 for the auto and 11.96 for the manual – were recorded on the stock Goodyear Eagle F1 Supercar G:2 tires. According to Chevrolet, the team knocked about a tenth of a second off those numbers with the Mickey Thompson drag tires.

Camaro ZL1 Joins the 11-second Club
2012-05-04

DETROIT – The 2012 Chevrolet Camaro ZL1 is officially in the "11-second" club, as engineers recently turned an 11.93-second/116-mph quarter-mile elapsed time run in a showroom-stock Camaro ZL1 automatic. A Camaro ZL1 manual ran an 11.96-second ET at 117 mph.

Only a few other production vehicles can run the quarter-mile as quickly as the ZL1. Fewer yet can also run 0-60 in 4 seconds, reach a top speed of 184 mph and lap the famous Nürburgring in 7:41.27 – all with the street-legal, factory-issued components and no time-consuming equipment adjustments at the racetrack.

"The ZL1 is great at everything and we're very proud of that," said Tony Roma, Camaro ZL1 program engineering manager. "You can take it to the drag strip and run 11-second quarter-miles all day long. You can also take it to a road course, where it's balanced, handles well, and does exactly what you want – including lapping Virginia International Raceway's Grand Course in under three minutes – and yet the ZL1 is sophisticated enough to use as a daily driver. It's a supercar you can drive every day."

For perspective, the Camaro ZL1 is so quick that some drivers who experiment with "drag radial" tires or full racing slicks may find themselves going too quick for most NHRA-sanctioned racetracks, where a five-point roll bar is required for vehicles running 11.49 or quicker. The 11.93-second ET in a stock ZL1 tested by the engineers wore the factory-issued Goodyear Eagle F1 Supercar G:2 tires developed specifically for it, putting the car only a scant 0.44-second away from that additional racing safety requirement.

Tuned for the drag strip

The original, special-order 1969 Camaro ZL1s are still revered for their legendary performance on the drag strip and Chevrolet was keenly aware that customers for the new, 21st century edition would undoubtedly test its straight-line mettle in quarter-mile increments.

The Camaro team re-engineered 30 percent of a Camaro 2SS to make the ZL1, including special modifications just for the drag strip.

"We know many of customers will take their ZL1 to the drag strip," said Gordon Rojewski, driveline development engineer – and who is also an experienced drag racer and owner of a turbocharged, 920-horsepower street car. "Some may just go once, to experience the full potential of the 580-horsepower LSA engine. Others may be more serious, going every other weekend with a set of slicks in the trunk. As such, we set out to make sure the ZL1 would perform for them – on the first pass and on the 100th."

For example, to withstand the heavy loads of repeated hard launches, the ZL1 features a stout 9.9-inch rear differential mounted in a robust cast iron center section. It also features a standard differential cooler that can lower the temperature by 100 degrees F for improved performance and longevity.

The ZL1 also features asymmetrical half-shafts: a 60mm hollow shaft on the right and a 33mm solid shaft on the left. The different torsional stiffness rates of the shafts work in conjunction with the limited-slip differential to minimize the chance of wheel hop at launch. Engineers modified the rear suspension, as well, to accommodate an 18-inch wheel, for owners who want to fit a set of drag-radials with taller sidewalls to improve their ETs.

Even the ZL1's exclusive Performance Traction Management (PTM) was tuned for the drag-strip. It integrates third-generation Magnetic Ride Control, launch control, traction control, electronic stability control and electric power steering response to enhance performance. Launch control (manual transmission only) automatically modulates engine torque for the best-possible acceleration without excessive wheel spin. When the driver pushes the throttle to the floor, the system holds a predetermined engine speed until the driver releases the clutch. Then, the system modulates engine torque 1,000 times per second to maximize the available traction.

Mode 5 of launch control is uniquely calibrated for drag strips that use VHT or similar traction-enhancing compounds on the starting line. In addition to validating the system for the stock tires, engineers also tested it with 18- and 20-inch racing-type drag radial tires in anticipation of the specialty tires many drivers will use at the track. Drag radials are very soft and provide nearly the traction of a full racing slick, allowing the car to launch at a higher rpm without wheel spin, which can translate into an even quicker ET.

Proven with 1,000 hard launch tests

To test the chassis and suspension components to ensure they were up to repeated hard-start launches typical at the drag strip, engineers subjected the ZL1 to the grueling "Woodward Avenue Schedule" at the GM Milford Proving Ground.

Named for the famous cruising route that cuts north through Detroit's suburbs and has been the venue for untold thousands of unofficial launch capability demonstrations since the 1960s, each test cycle is a hard-launch, standing-start drag race up to 100 mph. The ZL1 was subjected to 1,000 test cycles before its driveline was stamped "approved".

"The Woodward Avenue Schedule was a really brutal test, but it told us the Camaro ZL1 would live up to the way we knew our customers would drive it on the track," said Rojewski.

The Camaro ZL1 is on sale now with a suggested retail price of $54,995 – including a $900 destination charge. The 6L90 six-speed automatic transmission includes TapShift control and is a $1,185 option. The Camaro ZL1 convertible goes on sale this summer.

Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 140 countries and selling more than 4 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature spirited performance, expressive design, and high quality. More information on Chevrolet models can be found at www.chevrolet.com.

The 202 mph 2012 Chevy Camaro ZL1 by Lingenfelter (LPE)

David Walker, LeaseTrader.com — Thu, 03 May 2012 16:06:07 GMT

The 202 mph 2012 Chevy Camaro ZL1 by Lingenfelter (LPE)

With the 2013 Shelby GT500 putting out 662 horsepower and 631 pound-feet torque, we're guessing that more than a few owners of the new Chevrolet Camaro ZL1 will be looking to even things up via the aftermarket. The speed-obsessed guys over at Lingenfelter Performance Engineering are already putting a few options on the table with a three new upgrade packages that boost the supercharged 6.2-liter V8 to anywhere from 630 to 700-plus horsepower.

Apparently, Lingenfelter was eager to prove the merits of its work, and just a couple weeks after taking delivery of an early production Camaro ZL1 had it out on the track putting down times. The test car, pushing out 720 horsepower, laid down a 10.79 second quarter mile pass at Muncie Dragway in Albany, IN, and later recorded a 202 mph top speed at Continental Tire's proving grounds earlier this week. Coincidentally, that's the same top speed that the 2013 Shelby GT500 reached during its high speed testing at the Nardo Ring in Italy last year

Press Release

DECATUR, Ind. - Lingenfelter Performance Engineering (LPE) has demonstrated their high-horsepower expertise once again, becoming the first to exceed 200 mph in a new 2012 Chevrolet Camaro ZL1.

Driven by HOT ROD magazine Editor-in-Chief David Freiburger, the Lingenfelter-tuned ZL1 Camaro hit 202.67 mph at the Continental Tire North America, Inc. Uvalde Proving Grounds in Uvalde, Texas on April 30, 2012.

"The Lingenfelter crew couldn't be more excited to make history as the first 2012 ZL1 Camaro to exceed 200 mph, and to celebrate this victory on the heels of becoming the first company to run a ZL1 in the 10s," said Ken Lingenfelter, owner, Lingenfelter Performance Engineering. "We are very proud to have David drive our car and to share in this accomplishment with HOT ROD magazine, an icon in the world of speed and high-performance vehicles."

On April 18 - just two weeks after taking ownership of one of the first production ZL1 Camaros available to the public - Lingenfelter powered their ZL1 Camaro to its first record run in the 10s, making an impressive 10.79 quarter-mile pass at 134.36 mph at Muncie Dragway in Albany, Ind.

LPE engineers used their expertise to modify the ZL1 Camaro with a Lingenfelter GT9 camshaft; CNC ported cylinder heads; an increased supercharger speed thanks to a 2.3 top pulley and a 5% overdriven bottom pulley; a custom air intake with LPE's race mesh filter; Continental ExtremeContact(tm) DW tires and production ZL1 wheels. The LPE-tuned ZL1 makes 720 HP and 650 lbs. ft. of torque at the rear wheels.

Lingenfelter offers enthusiasts three supercharger upgrade packages - producing 630 HP to 700 HP - for the 6.2L ZL1 Camaro engine, delivering substantial improvements over the factory 580 HP and 556 lbs. ft. of torque while maintaining a safe level of boost and supercharger RPM. The LPE ZL1 Camaro Supercharger System Upgrade Packages are available for purchase and installation by Lingenfelter Performance Engineering. For more information, visit www.lingenfelter.com.

For more than 34 years, Lingenfelter Performance Engineering has created a matchless heritage of bringing astounding new capabilities to the world's most sought-after sports cars. This legendary record of precision engineering continues today, as the highly skilled Lingenfelter production team continues to target design excellence in engine packages, superchargers and high-performance aftermarket components that refine power, speed and control. For more information, visit www.lingenfelter.com, contact Lingenfelter Performance Engineering at 1557 Winchester Road, Decatur, IN 46733, or call 260.724.2552.

News Source: autoblog.com via Lingenfelter

Cadillac adding vibrating Safety Seat Alert system

David Walker, LeaseTrader.com — Wed, 28 Mar 2012 23:37:26 GMT

Cadillac adding vibrating Safety Seat Alert system

It's going to be a big year for Cadillac, which will soon be reloading its model lineup with the new ATS and XTS sedans. The 2013 ATS compact slots in below the CTS, while the larger 2013 XTS aims to take care of traditional Caddy buyers looking for immensity above all else. While at diametrical ends of the spectrum, the two new models will share a technology package that all revolves around a new seat.

General Motors is throwing around fifty-cent words like "haptic" and phrases like "directional tactile sensation" to describe its new Safety Alert Seat, which vibrates to warn the driver of potential dangers like wandering out of one's lane. The seat employs two electric motors to create its directional feedback, and it's at the center of both safety packages Cadillac will be introducing this year. The first is aimed at merely providing the driver with safety alerts, while a more comprehensive suite will also offer vehicle intervention. Cadillac is using six radar sensors, eight ultrasonic sensors and two vision cameras to drive the new safety systems.

The Driver Awareness Package will debut with the launch of the XTS in the spring and offers the seat, Forward Collision Alert, Lane Departure Warning, Side Blind Zone Alert and Rear Cross Traffic Alert. In the fall, Cadillac will begin offering the Driver Assist Package, which adds Adaptive Cruise Control, Front and Rear Automatic Braking, and Automatic Collision Preparation. Both packages will also be offered on the SRX crossover, details of which we expect to hear about at the New York Auto Show. Click through the jump to read more and to view two demonstration videos.
Much of this technology has already appeared in products from both GM and other carmakers, and we suspect that Cadillac is trying to leapfrog past its competition by developing the unique seat. After a brief demonstration at GM's Milford, MI, proving grounds, however, we're not entirely sure what to make of the technology. On the one hand, it's almost so simple that you wonder why no one has thought of it before. On the other, it seems gimmicky.

While other carmakers have used vibrating steering wheels to alert drivers, the seat is the one other part of the car that you're always in contact with when you're behind the wheel, and it's a great delivery path for the vibratory warnings. Cadillac brass say their customers will appreciate that the warnings from the seat are "private and discreet," although drivers can also choose to disable the vibrating warnings in favor of more traditional audible alerts.

RECALL: Chevrolet Corvette recall over faulty hinges

David Walker, LeaseTrader.com — Mon, 10 Oct 2011 20:10:06 GMT

RECALL: Chevrolet Corvette recall over faulty hinges

General Motors is recalling 5,755 2011-2012 Chevrolet Corvette coupes for potentially faulty hatch hinges that could break loose in a crash. According to the National Highway Traffic Safety Administration, the rear hatch hinges on Vettes built between January and September don't meet federal weight capacity requirements.

The recall was scheduled to start on Oct. 7. According to the recall, dealers will notify owners of the recall and inspect and replace both hinges for free as necessary

PRESS RELEASE

Report Date : October 9, 2011 at 12:45 PM
NHTSA Campaign ID number : 11V491000

Vehicle Make / Model: Model Year(s):
Chevrolet / CORVETTE 2011-2012
Manufacturer: GENERAL MOTORS LLC Mfr's Report Date: OCT 03, 2011
NHTSA CAMPAIGN ID Number: 11V491000 NHTSA Action Number: N/A
Component: STRUCTURE:BODY:HATCHBACK/LIFTGATE:HINGE AND ATTACHMENTS
Potential Number of Units Affected: 5,755
Summary:
GENERAL MOTORS (GM) IS RECALLING CERTAIN MODEL YEAR 2011-2012 Chevrolet CORVETTE COUPE VEHICLES, MANUFACTURED FROM JANUARY 24, 2011, THROUGH SEPTEMBER 1, 2011, FOR FAILING TO COMPLY WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NUMBER 206, "DOOR LOCKS AND DOOR RETENTION COMPONENTS". THE REAR HATCH HINGES MAY NOT MEET THE LOAD REQUIREMENTS SPECIFIED IN THE SAFETY STANDARD.
Consequence:
THE REAR HATCH COULD SEPARATE IN THE EVENT OF A CRASH, INCREASING THE RISK OF INJURY.
Remedy:
GM WILL NOTIFY OWNERS AND DEALERS WILL REPLACE BOTH REAR HATCH HINGES FREE OF CHARGE. THE SAFETY RECALL IS EXPECTED TO BEGIN ON OR BEFORE OCTOBER 7, 2011. OWNERS MAY CONTACT Chevrolet AT 1-800-630-2438 .
Notes:
GM'S SAFETY RECALL CAMPAIGN NUMBER IS 11258. OWNERS MAY ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION'S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV .

GM tests offering free auto insurance to new-car buyers

David Walker, LeaseTrader.com — Thu, 07 Jul 2011 15:28:30 GMT

GM tests offering free auto Insurance to new-car buyers

Out in states like California, uninsured motorists remain a serious problem. So General Motors is involved in an experiment in two states that could help insure more drivers.

The test is taking place in Oregon and Washington, where drivers who take delivery of a new GM vehicle will receive a year-long Insurance policy from MetLife at no additional charge.

The policy includes both liability and physical damage coverage and exceeds requirements in the two states. The deal applies to 2010, 2011 or 2012 Chevrolet, Buick, GMC or Cadillac car, truck or crossover and is only good on purchases through Sept. 6. But hey, it's a start.

While we see it as a plus for public safety and individual responsibility, GM views its offer as having a more direct effect: it may bring in buyers by making cars more affordable.

"We want to give residents of Oregon and Washington another reason to discover Chevrolet, Buick, GMC and Cadillac vehicles," said Chris Perry, U.S. vice president of General Motors marketing. "We have new products like the Chevrolet Cruze, Buick Regal, GMC Terrain and Cadillac CTS Coupe that are now even more appealing with a year's worth of Insurance."

The policy covers the vehicle and anyone who drives it with the owner's permission for a full year from the date of purchase, as long as the original purchaser continues to own or lease the vehicle. The policy is not available on vehicles purchased or leased for certain commercial or fleet purposes. And there's a little more fine print:

If a new car is damaged beyond repair within the car's first year or first 15,000 miles, whichever comes first, MetLife Auto & Home will repair or replace the vehicle with a new vehicle, without deducting for depreciation. Many auto insurers subtract miles driven at the time a vehicle is damaged resulting in thousands of dollars in out-of-pocket expenses.

GM is testing auto Insurance as a standard feature to determine consumer appeal. It is available only to Oregon and Washington residents with valid driver's licenses who title their vehicle in those states. The vehicle owner can seek to renew the Insurance at the end of one year or go elsewhere for coverage.

Complete program details and limitations are available at

www.chevyinsurancebreak.com,

www.buickinsuranceoffer.com,

www.gmcinsuranceoffer.com

www.cadillac.com/insuranceoffer.com

[ Source: USAToday ]

General Motors plans to raise $12 billion in its IPO

David Walker, LeaseTrader.com — Tue, 16 Nov 2010 20:29:38 GMT

General Motors plans to raise $12 billion in its IPO

DETROIT (Bloomberg) -- General Motors Co. plans to raise as much as $12 billion in its initial public offering after increasing the asking price by 14 percent, according to a statement today.

GM, 61 percent owned by the U.S. Treasury, is now selling 365 million shares at $32 to $33 each, it said. The IPO was already multiple times oversubscribed at the original range of $26 to $29 apiece, according to two people familiar with the deal last week. GM's underwriters also plan to exercise an option to buy 54.8 million more shares, the people said. The offering is scheduled for tomorrow, according to Bloomberg.

The IPO will help CEO Dan Akerson return some of the $49.5 billion GM received in a taxpayer bailout last year. The Treasury, which is taking a loss on its portion of the sale, will break even only if the shares climb at least 50 percent, data compiled by Bloomberg show. At $33 each, the sale would give GM a market value of almost $50 billion, versus Ford Motor Co.'s $59 billion.

“There's much more demand for the shares they're offering,” Josef Schuster, the Chicago-based founder of IPOX Capital Management LLC, which oversees $3 billion. “They've done an extremely good job in marketing this IPO so far.”

The IPO would be the second-largest in U.S. history, after San Francisco-based Visa Inc.'s $19.7 billion sale in March 2008, and comes 16 months after GM emerged from bankruptcy. GM also increased its preferred stock offering to $4 billion, $1 billion more than it had planned, the filing said.

Breakeven price

GM is selling shares after the Standard & Poor's 500 Index rose to a two-year high this month on speculation that the U.S. economy won't slip back into a recession after the longest contraction since the Great Depression.

The company reported third-quarter net income of $2.16 billion last week, bringing its earnings this year to $4.77 billion. That tops the $4.46 billion profit by Toyota Motor Corp., data compiled by Bloomberg show.

GM is seeking to sell as many shares as possible to reduce the government's stake, and the automaker's banks want a larger offering to increase the fees they'll earn, said Maryann Keller, founder of a self-named consulting firm in Stamford, Conn. The Treasury prefers to sell fewer shares at higher prices so it can more easily recoup its investment, she said.

The Treasury needs to sell GM's stock at an average of $43.67 each to break even on its entire investment, data compiled by Bloomberg show. That means the shares would have to climb to almost $50 for the government's remaining stake to offset its loss in the IPO, the data show.

Relative value

At $33 a share, GM is valued at 7.8 times this year's earnings, based on its net income in the first nine months of 2010. Ford trades at 8.2 times analysts' estimates for 2010 profit, the data show.

Shares of Ford have climbed 70 percent this year and reached the highest level in almost seven years this week.

GM, which lost $82 billion from 2005 to 2008, was valued at an average of 10.3 times profit from 2000 through 2004, monthly data compiled by Bloomberg show. Ford traded at an average of 13 times earnings in the same period.

General Motors Corp. filed for Chapter 11 bankruptcy protection on June 1, 2009, after the failure of New York-based Lehman Brothers Holdings Inc. in September 2008 froze credit markets and helped cause the worst recession since the Great Depression.

Without exercising the over-allotment option, the IPO would lower the Treasury's stake to 43 percent, GM has said in filings. If the option was used, the stake would drop to 41 percent.

The automaker will start trading on the New York Stock Exchange under the ticker GM

GM posts profits of $1.96 billion before IPO offering

David Walker, LeaseTrader.com — Wed, 10 Nov 2010 16:26:06 GMT

GM posts profits of $1.96 billion before IPO offering

DETROIT -- General Motors Co., in its final financial snapshot before next week's initial public offering, posted third quarter net income of $1.96 billion on revenues of $34.06 billion.

The results, released today, were in line with a forecast issued last week. GM now has earned $4.16 billion on revenues of $98.71 billion through three straight profitable quarters this year -- a dramatic swing after five consecutive annual losses.

The automaker expects profitability to fall in the fourth quarter because of higher new-product development and vehicle-launch costs. The latter includes those for the Chevrolet Volt and Cruze.

“The results of the third quarter clearly point to the amount of progress GM has made,” CEO Dan Akerson said in a conference call. An accelerating turnaround in North America contributed to the performance.

In the third quarter of 2009, GM posted a $1.15 billion loss after going through a U.S.-funded overhaul in bankruptcy court.

Through October, GM's U.S. sales are up 6 percent to 1.8 million units. The company has lost share in an overall market that is up 11 percent.

Most of GM's market share losses stem from the sale of Saab and the elimination of the Pontiac, Hummer and Saturn brands.

GM's results topped rival Ford Motor Co's $1.7 billion third-quarter profit. Chrysler Group, which exited its U.S.-steered bankruptcy a month before GM, had a third-quarter operating profit of $239 million and a net loss of $84 million.

GM said it expects to report positive earnings before interest and taxes in the fourth quarter, but “at a significantly lower run rate” than each of the first three quarters, and expects to be profitable for all of 2010.

Akerson cited several accomplishments:

• “We have significantly lowered our cost base.”

• “We have the No. 1 market share position in the combined BRIC markets” of Brazil, Russia, India and China.

• And so far this year, GM has “sold more vehicles with four brands than last year with eight brands.”

On the other hand, Akerson said, “We've just started to do a better job in marketing our brand to consumers” and “we need to fix Europe.”

GM posted profits before interest and tax payments of $2.28 billion, and net cash flow from operating activities of $2.62 billion in the third quarter. Operating income came to $1.85 billion.

In North America, GM had profits before interest and tax payments of $2.13 billion.

Overseas operations came out slightly ahead. In Europe, GM had a loss before interest and tax payments of $559 million. That was offset by profits before interest and tax payments at GM's international unit, which doesn't include Europe, of $646 million. In addition, GM had equity income net of taxes of $351 million, mainly from its China joint ventures.

SOURCE: [ Automotive News ]

GM and OnStar now available on iPhone and Android

David Walker, LeaseTrader.com — Tue, 02 Nov 2010 19:29:08 GMT

GM and OnStar now available on iPhone and Android

PRESS RELEASE

myChevrolet and OnStar MyLink Apps Now Available
Free apps for iPhone and Android platforms also available for Buick, GMC and Cadillac combine convenience of smart-phone applications with power of OnStar
2010-10-29

DETROIT – Beginning today, owners of 2011 Chevrolet models can access their vehicle information and OnStar services right from their smart phones. The myChevrolet and OnStar MyLink applications, available as free downloads, provide drivers with unprecedented connectivity to their vehicles from their Android or Apple iPhone device.

"This is a great example of how we are focusing on smart technologies that address customers' needs," said Chris Perry, vice president, Chevrolet marketing. "With myChevrolet and Onstar MyLink apps, customers can search their owners' manual, find their parking spot, and even unlock their car – right from their phone."

Features of the apps, also available on Buick, GMC and Cadillac models, fall into three categories: location-based services, vehicle-specific information, and OnStar connectivity features.

The location-based services include a parking reminder that allows drivers to save their parking location to a GPS-enabled map, set a timer to track how much time they have on the parking meter, and even add a note or photo with details about their parking location. If they return to a flat tire, the driver can use the app to request roadside assistance or to locate the closest Chevrolet dealership and schedule a service appointment.

Vehicle-specific information is accessible after scanning the vehicle identification number using the smart-phone camera. These features include searchable content for the most-commonly accessed information in the owner's manual, such as directions saving radio presets. The app also provides explanations of warning lights and indicators on the vehicle instrument panel at the touch of a button.

In addition, myChevrolet integrates with the OnStar MyLink app to access exclusive OnStar technologies. Through OnStar's unique connection to the vehicle, owners can send remote vehicle commands such as unlocking or locking the doors, and starting the engine. In addition, owners can access key diagnostic information, including fuel tank level and range, remaining oil life, current and recommended tire pressure and lifetime average miles per gallon. The diagnostic information is current as of the last vehicle start, giving OnStar subscribers an up-to-date health report of their vehicle anytime they need it.

myChevrolet and OnStar MyLink are currently available for download, free of charge, from www.apple.com, or from www.android.com.