As reported last week, the next-generation BMW M5 will be on a hiatus this year. However, come next year, the M5 will receive significant upgrades that should have the new Cadillac CTS-V running for cover. Sources say that the current V10 will be dropped for the direct-injection twin-turbo 4.4L V8 ““ an uprated version of the [...]
Last week, General Motors announced that Ed Whitacre will continue on as Chief Executive Officer of the automaker. According to sources familiar with the situation, GM is working on developing an internal replacement for Whitacre in a couple of years. The source said that a search for a new CEO from outside GM failed. Insiders said [...]
Earlier last month General Motors suspended production of Hummer vehicles pending approval from the Chinese government with regards to its deal to sell the brand to Sichuan Tengzhong Heavy Industry Machinery. Well, it doesn’t seem like Hummer vehicles will re-enter production anytime soon because GM and Tengzhong have extended the deal deadline to the end of [...]
Toyota’s president and COO in the United States, Jim Lentz, is out making media rounds early this morning and his first stop was NBC’s Today Show in an interview with Matt Lauer. Lentz will also stop by CNN, MSNBC and a bunch of other networks before hosting a conference call at 11 a.m. (EST) to [...]
As announced last week, electric-car manufacturer Tesla Motors has filled for a $100 million IPO. Here are some interesting things you’ll find in the company’s documents filed with the Securities and Exchange Commission. Tesla Roadster will end production in 2011. Replacement due in 2013. CEO Elon Musk will take $1 in yearly salary. Tesla expects [...]
Toyota placed full-page ads in newspapers in more than 20 major media markets throughout the United States yesterday. The Jan. 31, 2010, ad focuses around Toyota”s actions involving the sticking accelerator pedal recall. The ad reads: Why we’ve temporarily stopped some of our plants: As you may have heard, in rare cases, sticking accelerator pedals [...]
Toyota announced this morning that it will start fixing accelerator pedals in recalled vehicles this week. Toyota dealers should be receiving parts this week to fix accelerator pedals on the 2.3 million vehicles it recalled Jan. 21. “Nothing is more important to us than the safety and reliability of the vehicles our customers drive,” said [...]
