Koenigsegg’s bid to purchase GM’s Swedish Saab brand was contingent on the company securing additional funding, either through external investment or through loans. With the Swedish government not overly excited about bailing out Saab and after rejecting attempts by Volvo to secure assistance, Keonigsegg has looked to the private sector and overseas for an interested...
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General Motors has just announced a deal that will see it’s European Opel brand sold off to Canadian autoparts supplier Magna International. The deal has yet to be finalized, but this morning GM announced Magna was the preferred bidder. The sale will see Magna and Russian backer Sberbank take a 55 percent stake in both...
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According to a recent Consumer Reports survey, the overwhelming majority of car shoppers are considering a domestic vehicle as their next purchase. Results of the “Auto Pulse” survey indicate that 81 percent of respondents looking at a new car are considering buying American. That number is significantly higher than the numbers for Asian imports (47...
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The U.S. auto industry showed continued improvement in the month of August, helped on by the Obama Administration’s Cash for Clunkers program. Ford was once again a big winner as sales increased 17.2 percent over last August, a significant improvement over the 2.4 percent growth in July – which was thought to be good at...
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According to a recent report on CBC Radio’s French website Radio Canada, the Penske Automotive Group plans to close all the Saturn dealers in Canada once its deal to buy the brand from General Motors is complete. At one time there were 60 Saturn dealers in Canada, but half of those dropped out of the...
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General Motors’ sale of its Hummer brand to China’s Tengzhong may be completed within a week. The two companies have been working on a deal for Hummer since June, and an unnamed source said to be the discussions said a deal is imminent. “Tengzhong executives have been traveling between the U.S. and China in the...
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After announcing earlier this week that it has not reached a deal to sell Opel, General Motors is now apparently exploring options to keep the European unit. This news comes as a surprise considering selling off Opel is a part of the company’s viability plan as submitted to the U.S. government in order to receive...
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In a shocking turn of events, General Motors has decided to cancel its plans to build a Buick PHEV (plug-in hybrid electric vehicle) crossover just weeks after announcing plans to build the new model. According to Buick communications boss Michelle Bunker the idea was not well received by, well, anyone and so GM has decided...
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In a sign that the Cash-for-Clunkers program is working and that car sales are finally starting to turn a corner, General Motors has announced that it is increasing production and adding overtime shifts at several plants. Shifts will be added at GM’s CAMI plant in Ingersoll, Ontario, Canada and at the Lordstown, Ohio plant. The...
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General Motors has signed an agreement to sell off its Swedish Saab unit to the Koenigsegg Group. Led by supercar maker Koenigsegg, the group includes several additional investors. The deal will see the Koenigsegg Group take a 100 percent stake in Saab. In a statement Koenigsegg Group CEO Christian von Koenigsegg said that the group...
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Earlier this week GM laid out it’s two-year-plan at a product and technology event, with the focus being on new Buick and Cadillac models and, of course, the 230 mpg claim for the Chevrolet Volt. But there was another tid-bit of info in that two-year-plan on another highly-anticipated Chevy… the C7 Corvette. Initially the next...
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During GM’s product technology even held yesterday CEO Fritz Henderson confirmed that the automaker’s top-tier Cadillac brand will bring a new flagship sedan, as well as an entry-level sedan to market shortly. The new high-end model will replace the DTS and is reportedly to be called the XTS. This full-sized luxury sedan will be based...
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Chevrolet’s upcoming Volt plug-in hybrid will get 230 miles per gallon according to General Motors. The astonishingly high number comes as the result of new EPA methods for testing fuel mileage for PHEVs. GM made the announcement today as a part of a product and technology event held at the company’s Design Center and Milford Proving...
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If you’re a car junkie, Twitter is the place to be today. Ahead of a webcast tomorrow morning by GM CEO Fritz Henderson, the General arranged for a select few media to meet with its PR folks and get a preview of what the New GM has to offer. Many of those folks have been...
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The much-anticipated Cadillac CTS Coupe will arrive in May of next year as a 2011 model. The sporty two-door won’t be alone either, as the new model will debut alongside a high-powered CST-V sibling. According to a report on TheCarConnection, the two door version of the entry-level Cadillac CTS will share the same powertrains as...
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Buick has just released a teaser image of a new entry-level luxury crossover that will slot in underneath the Enclave. Normally word of a new model is news enough, but GM has decided to increase our expectations of its new model by announcing that it will be offered with a version of the Volt’s Voltec...
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Corvette Racing today unveiled its new GT2-spec C6.R racer and invited folks to listen in on a conference call with those responsible for running the team as well as one of the drivers of the No. 3 car, Johnny O’Connell. For years Corvette Racing has ran a team of cars in the top-level GT1 category in...
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If all goes as planned the Penske-owned Saturn brand could be selling rebadged vehicles from French automaker Renault in the U.S. Thought to be a wild rumor at first, Renault has now confirmed that Penske has in fact approached the automaker to supply both parts and cars. Currently Penske Automotive Group has a tentative deal...
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To celebrate its 15th anniversary the National Corvette Museum (NCM) is holding a raffle for a new 2010 Corvette Grand Sport. Tickets aren’t cheap at $150 a pop, but with just 2,009 tickets being sold the odds of winning are pretty good. The NCM Corvette Grand Sport Coupe was custom designed by the folks at...
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Earlier this week General Motors officially turned off the lights and locked the doors at its Boxwood Road assembly plant for the last time, marking the end of the line for the Pontiac Solstice and Saturn Sky. The two vehicles (along with the Opel GT) were manufactured at the plant in Wilmington, Delaware, which is...
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Autobots: roll out, and now you can too with the 2010 Chevrolet Camaro Transformers Special Edition. The Bumblebee inspired creation was officially introduced yesterday at a fitting venue, Comic-Con in San Diego. “When the first Transformers movie was setting box office records, we had countless customers asking to purchase the ‘Bumblebee’ Camaro,” said Karen Rafferty,...
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[vs-jwplayer movieid=”JiJznSarqYo” width=”425″ height=”344″ autoplay=”0″] To help promote the upcoming Chevrolet Volt and provide owners and potential owners with a place to discuss the ground-breaking car, General Motors has launched a new forum called ChevroletVoltage.com. And to help kick-start interest in the forum, GM has released a video of the build process for the prototype...
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Yesterday we urged GM CEO Fritz Henderson to sit down with his new Vice Chairman Bob Lutz to get their stories about the future of the Pontiac G8 straight. Now they have, and the news isn’t good. Bob Lutz posted on GM’s corporate Fastlane Blog that the G8 will not live on as the Chevrolet...
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Perhaps General Motors CEO Fritz Henderson and his newly appointed Vice Chairman Bob Lutz should sit down, have a talk and get their stories straight. After consistently saying that the Pontiac G8 would be eliminated with the rest of the Pontiac brand, it seemed as though Henderson had a change of heart after his newly...
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