GM has purchased back from the government its holding of preferred stock in the company for $2.1 billion. The purchase brings the total amount repaid to taxpayers to $23.1 billion, after $13.5 billion recovered from the IPO and $6.7 billion in GM debt repayments and $800 million from interest and dividends. The government invested a [...]
Cars are selling in a big way, and analysts expect it to get bigger. Global automobile sales are expected to top 80 million units in 2012 and 118 million units in 2020, according to JD Power & Associates Director of Forecasting Jeff Schuster. In 2007, a world record of 70.3 million deliveries was set. This [...]
While you’ll have to look a little closer to see the upgrades on the 2012 BMW 1-Series Coupe and Convertible, BMW says that the car is “now sharper than ever.” Both models will go on sale in spring 2011. If you take a closer look a the 2012 BMW 1-Series Coupe and Convertible, you’ll notice [...]
Earlier this morning at Gearhart Chevrolet in Denville, NJ, retired airline pilot Jeffrey Kaffee became the first customer in the United States to take delivery of a 2011 Chevrolet Volt. Kaffee, who traded in his Toyota Prius for the Volt, returned early from a vacation to pick up his car at Gearhart Chevrolet. Kaffee’s Volt is [...]
Lexus has announced the pricing on its fifth hybrid model – the 2011 Lexus CT 200h hybrid hatchback. That model will go on sale in early March with a starting price tag of $29,120 – making it not only the cheapest hybrid from Lexus but the cheapest model offered by the brand. “For just $1,000 [...]
We just love writing about recalls – it’s so much fun that we might even make a sub-site called egmRecallTech (there was a lot of sarcasm there. Volkswagen has announced that it is recalling 377,286 vehicles in the United States including Beetle and Jetta models due to a fire risk from fuel-supply lines that may [...]
Chrysler Group LLC. announced today that it is recalling 367,350 minivans due to a risk that a water leak in the air conditioning system could cause the airbags to go off and risk injury to passengers. “Chrysler Group LLC will conduct a voluntary safety recall to owners of certain 2008 Chrysler Town & Country and [...]
The 2011 Dodge Durango has started rolling down the production line and yesterday UAW Vice President General Holiefield and Dodge Brand CEO Ralph Gilles celebrated the first unit to roll off the line at Chrysler Group LLC’s Jefferson North Assembly Plant (JNAP) in Detroit. The 2011 Dodge Durango is the first Dodge ever to be produced at [...]
Earlier this year, V-dub unveiled the Volkswagen Milano Taxi Concept, based on the upcoming Up! city car. The automaker has now released the latest evolution of its plans to offer the British institution a fuel-alternative transportation for its citizens – the Volkswagen London Taxi Concept. Also based on the Up!, the Volkswagen London Taxi Concept [...]
Dodge’s current halo car, the Challenger, follows the trend of new power and drivetrains as well as reworked suspension, interior and exterior upgrades. When it first came out, immediately Dodge had something going for them. It was one of the rare cases where revitalizing the past has somewhat worked. The Challenger rings every petrolhead’s memories [...]
