Saab Files for Bankruptcy and Asks for $1 Billion

GM has announced that Saab has filed bankruptcy in Swedish courts in an effort to reorganize the company and to become independent from GM.

The reorganization of Saab will lead to the design, engineering and manufacturing being concentrated back in Sweden. But in order for this to happen GM needs to secure financing, which is the main issue. The Swedish government already rejected GM's request for cash. According to the Automotive News Saab may need as much as $1 billion to remain sustainable on its own.

Currently Saab plans on launching three new vehicles of the next year and a half, the 9-3X, 9-5 and 9-4X...well that's if Saab can raise the money to sustain itself.

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2010 Pre-Production Chevy Camaros Start Rolling off the Assembly Line

GM has released several photos of the first pre-production 2010 Chevy Camaros rolling down the assembly line in Oshawa, Ontario.

The first 2010 Chevy Camaros will start production on March 16th.

Enjoy the photos

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What Were the Top Ten Best-Selling Vehicles in 2008?

2008 is finally over and with it ends one of the worst years for the automotive industry in recent history. Most of 2008 was plagued by high fuel prices, which forced buyers to look for more fuel efficient vehicles. Even with this trend the Ford F-150 and Chevy Silverado pickups managed to remain at the top of the list for 2008.

In addition, even though buyers continued to ask for more fuel-efficient vehicles, the Toyota Corolla and Honda Civic were the only "small" cars to make the list.

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Saab 9-X Air BioHybrid Concept Unveiled Ahead of Paris Show

Saab has unveiled the 9-X Air BioHybrid Concept ahead of the Paris Motor Show next month.

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GM gets its $4 billion, Chrysler still waiting

Filed under: Government/Legal, Chrysler, LLC., GM, Earnings/Financials

On Monday, December 29, Chrysler and General Motors were supposed to get the first installments of its allotted funds from the $17.4 billion dollar bridge loans. On Wednesday, GM got it's $4 billion. Chrysler, on the other hand, is still "finalizing the details of our financial assistance." The U.S. Treasury - the body disbursing the funds - didn't have much to say beyond that, either, merely reiterating that it wants to get the deal done within a timeline that satisfies Chrylser's funding needs.

While we wonder what the holdup is, we have no reason to believe that Chrysler won't get its money. It is unlikely that anything has happened in the past three weeks to make the government go "On second thought..." We also wonder how Chrysler plans to meet the next deadline: by February 17, GM and Chrysler need to have submitted plans to demonstrate their long-term viability; on March 31, a putative "car czar" will decide whether those plans are actually worth anything. The idea that Chrysler can demonstrate sound health over the long-term in just 45 days is a head-scratcher, but hey, some folks didn't even think Chrysler would still be here, so that's got to count for something.

[Source: Automotive News, sub. req'd]

GM gets its $4 billion, Chrysler still waiting originally appeared on Autoblog on Fri, 02 Jan 2009 10:58:00 EST. Please see our terms for use of feeds.

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Exploratory Talks To Sell HUMMER To China Fall Through, GM Thoroughly Failing At “Courage Under Fire”

As the HUMMER division looks out upon a dismal landscape in the civilian market, parent company GM has been met with yet another roadblock as they desperately try to rid themselves of the powerful line of off-road vehicles. In today’s news, it was announced that Chinese SUV manufacturer Hunan Changfeng has ended discussions with GM about the purchase of the HUMMER line. One of the top 3 market leaders in the Chinese auto industry, Changfeng showed an active interest in taking over GM’s HUMMER division earlier this year but has recently withdrawn all tenative offers. Negative market analyst feedback and the ever-fluctuating price of oil apparently caused Changfeng to be a little trigger-shy. 

All hope not lost, GM is continuing talks with India-based Tata Motor Corps - the same company that relieved Ford of its ailing Jaguar and Land Rover subsidiaries in June.

GM, which as been frantically trying to unload the HUMMER line as quickly and as quietly as possible since earlier this summer, had already bought out several private dealerships, leading some to speculate that the HUMMER line would be killed entirely. Exploratory talks with companies like Russia’s Oleg Deripaska and the aforementioned Tata Motors, however, offer a glimmer of hope on the HUMMER horizon.  

We say: GM - Look at Chrysler LLC. Instead of sending Jeep to the proverbial glue factory, Chrysler is performing massive reconstructive surgery to keep the Jeep line current and “green.” They’re not throwing in the towel, they’re not buckling under the crippling pressure of the global warming myth. So why can’t you do the same? As the Marines whom your HUMMER line helps outfit are wont to say, “Adapt, Improvise, and Overcome.” Seriously GM, man up.

[Source: Cluster Stock]

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GM Boosts MPG Ratings For Chevy, GMC Trucks And SUVs

A spin on Chrysler’s wave of 2-Mode Hybrid vehicles, GM has announced plans to expand its fuel efficient XFE line-up for 2009. Currently, the only XFE [Xtra Fuel Economy] vehicle available is the Chevy Cobalt XFE, a fuel efficient version of Chevy’s small car that was released last March. Using a combination of mass and drag-reducing enhancements, the Cobalt XFE saw a 9% jump in fuel economy [from 33 mpg hwy to 36 mpg hwy] while the Cobalt line saw an 8% jump in sales.

Recognizing the dramatic change in consumer interests as wrought by the fuel crisis, GM has decided to perform an XFE overhaul on its 2009 large vehicle line up. Among the vehicles scheduled for an XFE face lift: the Chevy Silverado pick-up truck, Chevy Tahoe SUV, GMC Sierra pick-up truck, and the GMC Yukon SUV.

The XFE package will be offered on 2WD vehicles with a 5.3-L V8 engine and 6-sp transmission, and will see a bump of about 1mpg in both city and highway fuel efficiency. Currently, all models marked for XFE conversion average about 14 mpg city/20 hwy. Although the increase probably won’t cause much of a stir in the hybrid/alternative fuel market, buyers already in the market for large, powerful vehicles will appreciate the slight break at the pump.

[Source: Automotive News]

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Small Pickups Perform Poorly in Side Crash Tests

The Insurance Institute for Highway Safety has released the results of its first ever side crash testing of five small pickup trucks.

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GM suing supplier to keep Camaro production going

Filed under: Coupes, Sports/GTs, Government/Legal, Plants/Manufacturing, Chevrolet, GM

Every time GM turns a corner it seems to come face to face with another obstacle. The latest setback concerns supplier Cadence, LLC, which provides interior parts for the 2010 Camaro. Cadence declared bankruptcy in August, and is now in liquidation proceedings. To GM's chagrin, joining Cadence in its descent into commercial tar pits are the specialized machines that GM needs to make parts for the Camaro.

If GM can't get the tooling, there are certain to be disruptions at assembly plants and then on down the food chain. The General would then need to pay to have the tooling made again while it looks for another supplier, a cost GM describes as "substantial." GM would like to have a new supplier in place by January 12, 2009 because Camaro production is slated to begin on February 16, with deliveries in mid-March.

So far, it's unclear as to who actually owns the machines in question - Cadence or GM - and Cadence has had nothing to say on the matter. Regardless, if GM doesn't get its way, then it has to spend a chunk of the money it just fought for to recover old ground. The most recent precedent isn't promising: Chrysler tried to get the tooling from bankrupt parts supplier Plastech, and was denied. Thanks for the tip, Jerry!

[Source: The Wall Street Journal]

GM suing supplier to keep Camaro production going originally appeared on Autoblog on Sat, 27 Dec 2008 09:31:00 EST. Please see our terms for use of feeds.

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Chevrolet Corvette S-Limited Unveiled...It's Only for Japan

GM has unveiled the special-edition Corvette S-Limited for the Japanese market to celebrate GM's 100th anniversary.

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GM Dealership Goes Green, HUMMER Like, “Et Tu, Brute?”

For a GM/Hummer break-up news update, GM just witnessed the launch of its first green dealership. Located in Highland, Michigan the LaFontaine Automotive Group celebrated the opening of their new, $15 million dollar, 64 thousand square-foot facility on Wednesday, July 16, 2008.

In addition to enormous skylights aimed at reducing electricity bills,  the building also features doors made of entirely of hard-packed, solid forms of corncob and wheat [insert your own waste-related joke here] . The building’s most innovative and most expensive feature, however, is the underground geothermal heating and cooling system which consists of 64 in-ground wells used for the capture and storage of natural energy.

 Considered a ballsy move given GM’s current financial woes, owner Mike LaFontaine anticipates recovering the debt in as little as 5 years. According to LaFontaine, “There’s a tremendous number of consumers out there who want to purchase from a green dealer.” Although the decision to go green wasn’t suggested by GM, LaFontaine predicts that any new dealership built within the next ten years will be enviro-friendly. Undoubtedly a smart marketing maneuver, green dealerships will also help GM to compete with other notoriously green automobile manufactures like Toyota and Honda. 

According to Susan Docherty, vice president at LaFontaine Buick-Pontiac-GMC, GM already produces vehicles that are more fuel efficient than those of their rivals, but consumers don’t typically associate GM with “green” products. With the construction of more dealerships like LaFontaine, Docherty hopes to change that misconception.
[Source: Automotive News]

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GM Releases Photos of a Pre-Production Camaro Convertible

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GM To Get Rid Of Their Planes [Carpocalypse Now]

GM announced today they will close their air transportation service center at Detroit Metro Airport, sell four of their planes and transfer whatever plane/s they decide to keep to another operator in order to at least appear frugal.

This follows Planegate Part One and Part Two, which didn't go over so well. Having a corporate jet is a justifiable expense for a large, mutli-national organization but a fleet of jets operating as your own private airline is a perk that doesn't hold up well after media scrutiny — especially when Saint Alan decides that a company that makes cars should drive everywhere. The media may appreciate this but the people who work for the Not-So-Big Three's jet companies are going to have a crappy Christmas. Press release below

GM Ceasing Corporate Aviation Operations

DETROIT — GM today announced that it is ceasing operations at General Motors Air Transportation Services (GMATS) at Detroit Metro Airport.

Due to significant cutbacks over the past months, GM travel volume no longer justifies a dedicated corporate aircraft operation.

GM is currently exploring options for transferring its aircraft to another operator. The company is pursuing sale of four of the aircraft so it can terminate the leases.

GM will shutter the facility at Metro Airport effective January 1, 2009. GM will work with the airport to seek a tenant for the balance of the lease, which expires in 2009.

[Source: GM, Photo: IAA via Getty Images]

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2010 Chevy Camaro V6 Engine Photos Surface

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Pontiac G3 small car may come to the stateside

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Cadillac to Nix Future Luxury V8’s in Favor of Direct-Injection V6?

The word around the wire has it that Cadillac is planning to do away with their V8 option for their luxury sedans in favor of their Direct-Injection V6. For a company that has built a reputation out of their “Low and Wide” stance and their V8 power this could be a historic move, but only to those who thrive on History. Considering the economy we are living in today and the rising cost of fuel it is quite a sensible move for Cadillac to make. Especially when today’s Northstar V8 and Cadillacs Direct-Injection V6 are quite comparable in their performance.

The Northstar 4.6 liter V8 that resides as an option for the 2008 Cadillac STS pushes out a respectable 320-hp and 315-ft lbs of torque at their peak RPM’s. However the 3.6 liter Direct-Injection V6 that is the predominant selling engine already for the 2008 STS manages a very comparable 302-hp, yet a mere 252-ft lbs of torque. But the Direct-Inject V6 also provides an additional 2-mpg in fuel rating. With oil reaching $100 now it is more likely that improved fuel ratings are going to trump additional horses for many normal buyers. (more…)

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Detroit Auto Show Preview: HUMMER HX Concept Unveiled

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2008 Holden VE Ute gets an Aussie Welcome and some SS Treatment

Holden has taken their Commodore sedan and applied the old utility treatment to it. They chopped out the sedan from the B-pillars back and gave it a little truck bed. Adding a perfect accent to the ute back is some aggressive fascia and side skirts. The standard VE version comes with a 241-hp 3.6 liter V6 matted with four-speed automatic transmission or a 261-hp when paired with a 6-speed manual transmission. Ofcourse, Holden did not stop there as they are pairing the VE ute with the SS treatment.

The SS-V version of the Holden ute has GM’s 6.0 liter V8 engine that is putting out 362-hp. So my question is do the Australian’s really need another modified sedan with a high-powered engine? Is the TRD Aurion sedan with its supercharged V6 putting out 329-hp not enough? (more…)

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