In all of the statements released today by General Motors, the now bankrupt automaker said that its new products and technologies are on track. It said that that the New GM will continue with key vehicle launches in 2009 and 2010 including the 2010 Chevrolet Camaro, 2010 Buick LaCrosse, 2010 Cadillac SRX and CTS Sport [...]
As you all know by now, when the ‘New GM’ comes out of bankruptcy court in 60 to 90 days the U.S. government will own 60 percent of the company. The Canadian governments will own 12 percent while the UAW will own 17.5 percent. GM bondholders will take a 10 percent stake. Speaking earlier today to [...]
GM CEO Fritz Henderson is making his remarks to President Obama’s media briefing earlier this morning regarding General Motors’ bankruptcy filing. The press conference will start in exactly 5 minutes – stay tuned. Follow the jump for the live video.
According to Dave Salvatore of Kerbeck Corvette the 2010 Chevrolet Corvette Grand Sport will start at $55,720 for the coupe and $59,530 for the convertible. As the folks over at CorvetteBlogger point out, that’s about $6,205 more than the base coupe and $5,360 for the base convertible. Refresher: Power comes from a LS3 6.2L V8 producing 430-hp [...]
Volvo announced today that it is teaming up with energy supplier Vattenfall to promote the production of plug-in hybrid Volvo vehicles by 2012. “We are investing in an industrial joint venture to series-produce plug-in hybrid cars in Sweden in 2012, cars that can be powered by both electricity and diesel,” says Stephen Odell, President and CEO [...]
GM of Europe announced today that it will continue to operate normally and is not included in the Chap. 11 bankruptcy filing made today by its U.S. parent. It said that it has secured approval for a €1.5 billion bridge financing agreement with the German government based on the partnership with Magna, which will allow for more time [...]
GM has officially announced that it is filing for Chapter 11 bankruptcy protection and hopes to create “a leaner, stronger ‘New GM’ positioned for a profitable, self-sustaining and competitive future.” Pending approval from the U.S. Bankruptcy Court, the New GM is expected to launch in about 60 to 90 days. “Under its plan, GM will [...]
Daniel Paulin, former Ford designer, has created a design concept for Devon Motorworks that hints at a future American supercar. Known as the ‘design that navigates between the past and science fiction,’ the new Devon GTX is said to be the shape of the future supercar from America. The exterior features a blend of muscle [...]
A 2010 BMW 5-Series prototype was pulled over by the polizei (German police) on the Autobahn and according to German media on the scene, cops pulled over the 2010 5-Series since it seemed a little “suspicious.” Of course, that’s hard to believe since many auto manufacturers test their prototypes on the famous German highway and we highly [...]
Chrysler, which filed for bankruptcy on April 30, has won U.S. bankruptcy court approval for the sale of substantially all of its assets to Fiat SpA. The news comes just hours before GM is expected to begin its Chapter 11 filing. “Indeed, because of the overriding concern of the U.S. and Canadian governments to protect the public [...]
