A heavy $1 million starting bid has been placed on the Chrysler 300C that President Obama previously leased. Listing the car on eBay, and the starting bid, is Lisa Czibor, who says she is listing the car for another party, and has no personal stake in the sale apart from monetary gain. Barrett-Jackson auto auction [...]
The Obama administration has been working on cracking down on fuel efficiency standards for some time now, but they have finally released the tab the automotive industry will have to pay to meet the 54.5 mpg standard by 2025. The regulation, one of the biggest in U.S. history, will run $157.3 billion, in addition to [...]
President Barack Obama and South Korean President Lee Myung-bak both paid a visit to General Motors’ Orion Township assembly plant last Friday in order to promote a free trade agreement. The plan is said to potentially stimulate exports of US made products to South Korea, Colombia and Panama. The plan calls for cutting South Korea’s [...]
The United States Treasury Department, which currently holds a 26.5 percent stake in General Motors, said that it plans to be ‘patient’ before selling its remaining 500 million shares in the automaker. The statement came Monday as GM’s stock fell to another all-time low – $19.65 a share. GM, which is currently down 40 percent [...]
Earlier in the year, much of the news hitting everyone’s desk in the auto industry has been related to the Obama administration’s CAFE fuel efficiency mandate for 2025. Word is that the administration is now delaying the 2025 CAFE mandate of 54.5 mpg. However, not much detail has been released. “Given the historic nature of [...]
The President of the US of A has been known to travel pretty seriously. From armored plated Cadillac limousines, to Air Force One. Being the person of his stature, it’s obvious that he needs some serious form of transportation. That’s why President Obama is rolling around in a new tour bus for his Midwest US [...]
Ron Bloom was the man in charge of America’s automobile bailout back in 2008. Earlier this week, Mr. Bloom said that he will be stepping down and leaving his position in the White House. “We’ve faced many tough choices and dealt with numerous challenges over the past two and a half years—from restructuring the American [...]
President Obama has just come around to making a historic agreement in which thirteen major automakers have agreed to meet a 54.6 mpg Corporate Average Fuel Economy goal by 2025. This decision was made after a couple weeks of long talks to see if automakers can achieve the new CAFE requirements without too much financial [...]
In case this news has somehow evaded you, Obama is asking automakers for some major leaps in fuel economy standards. The White House proposals are now aiming to require a 54.5 mpg standard average fuel economy. In contrast to previous reports, it seems that while some details are still being worked on, most automakers that [...]
Several senior auto executives met up with the White House on Friday in order to talk about the latest fuel economy standards. The proposed fleetwide target average of 56.2 mpg by 2012, according to analysts, are proving to be very difficult both financially and technology, especially since cars have continued to get bigger and heavier. [...]
