Unlike former CEO Rick Wagoner, Henderson won’t be getting a $1 salary as GM stated when it won a $13.4 billion loan from the U.S. government in December 2008. Henderson said today that while he is now CEO of General Motors, his pay has not changed from his former position as GM president and chief [...]
Hit by a sharp downturn in sales, Honda announced today that it will cut production in North America by 62,000 units. The move will shut down factories for 13 days in May. Honda also said that it will cut pay for salaried and factory workers and will offer buyouts and early retirement incentives for 32,400 [...]
If you’ve been flipping through all the car sites in your RSS reader, you’ve probably noticed many European publications posting all the images and details on the new 2010 Mercedes-Benz E63 AMG. Yeah – that’s called an embargo leak. So without further ado – we now present the 2010 Mercedes-Benz E63 AMG prior to its [...]
While its Detroit rivals are on the verge of bankruptcy, FoMoCo is out flaunting the fuel-economy gains of the high-performance 2010 Ford Shelby GT500 and the racing stripes which are available for the first time on the convertible model. Ford’s Special Vehicle Team (SVT) helped deliver a more powerful 2010 Ford Shelby GT500 that makes [...]
During his first press conference as CEO of General Motors, Firtz Henderson said that he plans to meet Obama’s mandate to restructure the struggling automaker even if it means going into bankruptcy. “We could not contemplate bankruptcy if we didn’t have the government there to provide the finances and the protection,” Henderson said. According to [...]
So we all know by now that the 556-hp Chevrolet Camaro Z/28 is on the back burner of GM’s product plans as they look for ways to reduce manufacturing costs. But there are people out there that are still looking for more than the 426-hp offered by the Camaro SS. Tuner Hennessey has come to [...]
While General Motors figures out its restructuring and financial situations, high-performance models are on the hold. However, according to a dealer posting on Corvette Forum, GM will offer 6 models of the Corvette in 2010, including a Grand Sport Coupe and Convertible. Ken Fichtner of Fichtner Chevrolet says that in 2010, GM will offer a [...]
Lexus has announced the mid-year pricing on select 2009 model year vehicles. The new MSRPs, which do not include a delivery, processing and handling (DPH) fee of $825, reflect an increase of $150 for vehicles built after April 1 (and no this isn’t a April Fools’ joke. The Lexus RX is not including in the price [...]
White House officials said yesterday that the federal government could help struggling General Motors and Chrysler through quick bankruptcies if the two automakers are unable to restructure themselves outside of court. GM has 60 days to come up with a new restructuring plan while Chrysler has 30 days to decide if it wants to proceed [...]
Joining Hyundai’s Assurance and Ford’s Advantage Plan, GM has unveiled the details of its “Total Confidence” plan which offers a protection plan for buyers that lose their jobs. Design to help you get back up on your feet (by a company that also needs to get back up on its feet), GM’s Total Confidence plan [...]
