Scoopful of GM and Chrysler News – May 8, 2009

May 8, 2009 at 3:55 pm

White House Sees U.S. Holding GM Stake for At Least 2 Years The Obama administration is planning for the U.S. government to hold an ownership stake in a revamped General Motors for “at least two years,” a person briefed by the administration on its plans said Friday.

 Transportation Secretary Ray LaHood says GM in ‘good hands’ – The Detroit News…LaHood says GM in ‘good hands’The Detroit News, MIWashington — US Transportation Secretary Ray LaHood Friday endorsed General Motors Corp.’s new CEO as the right man to lead the Detroit automaker, saying, “GM is in very good hands.” Fritz Henderson took over as CEO on March 30 after the Obama …California in running for h…

More GM Cuts: Cadillac STS-V and Pontiac G6 GXP both gone for 2010GM, Pontiac 2009 Pontiac G6 GXP Sedan – Click above for high-res image gallery Pluto, the Roman god of Hades, is currently on a tour of the General Motors product garage and he’s taking a few cars with him from the land of the living. After sending the Impala SS and the Cobalt SS to the underworld, he has just added to his collection the Cadilla…

Toyota hammered with $7.7B loss in Q1 …than even GM‘s just-reported loss of $6 billion. Toyota now expects to lose $5.5 billion for the year ending March 2010, surpassing the $4.4 billion it lost in the just-concluded year.The reasons for Toyota’s reversal of fortune is well documented. Global sales were down 21.9% last year, with the most stark losses occurring in the U.S. and Europ…

Song remains the same: GM loses billions, Volt still on track…res gallery GM‘s announced yesterday that it lost $6 billion in the first quarter of 2009. That’s par for the course for the General these days. What’s also pretty standard was the immediate confirmation that work on the Chevy Volt is going A-OK and that, as GM‘s product development chief Tom Stephens said, “At this point in time, I know of no r…

Toyota First Quarter Losses Higher Than GM [Carpocalypse]…more than GM lost! That’s some pretty big news — especially considering GM dropped $6 billion during the first quarter. Jeez, if only Toyota were building some fuel-efficient, dependable appliance-type vehicles, right? [Reuters, WSJ]

GM and U of M create new institute for research …GMGeneral Motors and the University of Michigan have been working together on vehicle technology for 50 years, and a new institute will take the long-standing relationship to the next level. GM researchers will work with U of M faculty and students to develop new battery, engine, manufacturing, and smart materials technology to expedite the adva…

Sandia Successfully Completes Hydrogen Storage System for GM…designed for GM. To the right is the “SmartBed,” featuring a thermal management system with individual control of four identical modules, each of which is a shell and tube heat exchanger. The sodium alanate material used to store the hydrogen resides within the tubes. (Photo by Randy Wong) Click to enlarge.Researchers at Sandia National Laborato…

Nissan skipping SEMA this year, Mazda limiting presence Filed under: Aftermarket, SEMA, Tuners, Mazda, Nissan, Holden Troy Lee Designs Mazda6 from SEMA 2008 – Click above for a high-res image gallery Participation at last year’s SEMA show was notable for its absences, with the event’s organizers struggling at the last minute to fill vacated floor space with companies that would have normally been shunne…

Booo! GM also canceling Cobalt SS Sedan for 2010 GM also canceling Cobalt SS Sedan for 2010

G.M. Suffers Big Loss. Is Bankruptcy Next?General Motors could be one step closer to bankruptcy, after posting a $6 billion loss for the first quarter. The Obama administration’s auto task force has given G.M. until June 1 to come up with a plan to prove its viability. After reporting a 40 percent loss in worldwide sales, G.M. doesn’t seem likely to do […]

Save the Cheerleader? GM creates Hero Edition Corvette ZR1 to benefit Kids Wish NetworkGM‘s team of Corvette designers and engineers equipped this particular ‘Vette with a bespoke graphics package with red accents in lieu of the normal blue. Other special bits include “additional carbon fiber components,” though we’re left wondering what those composite pieces may be.You can’t actually go to your nearest Chevy dealership and order…

 The Chrysler Building: Biggest Mopar Ever [Carpocalypse]…all know Chrysler‘s facing some rough times, but let’s turn back the clock to 1930 and talk about the biggest Chrysler ever built.Chrysler Corporation was growing and in desperate need for — something — to represent its achievements. What better place to shine than New York City. Designed by architect, William Van Alen, the Chrysler Building wa..

Rendered Speculation: Alfa Romeo Milano, the next 147…the next Chrysler Sebring. The versatile building block will offer various lengths and widths in FWD and 4-wheel-drive versions, and propulsion will be courtesy of MultiAir engines. Unveiling of the 5-door hatchback is expected at either Frankfurt later this year, or Geneva in 2010.[Source: Car]Rendered Speculation: Alfa Romeo Milano, the next 1…

Chrysler reveals more facets of “We Build” campaignChrysler, LLC. Click above to watch all five commercials after the jump Chrysler sales have been abysmal throughout 2009, and with the uncertainty of bankruptcy, the short-term sales outlook is decidedly bad. To get the word out to its customers that the Pentastar is alive and well (except for its idled plants), Chrysler is launching a new campa…

Classic Ad: Chrysler’s Promise of a Small CarChrysler‘s former chairman, Lee A. Iacocca, makes some lofty promises in this 1984 commercial, including the introduction of a small car. Will we hear the same from Fiat’s chief executive, Sergio Marchionne?

Greenlings: Can we build a better battery with lithium?Chrysler ENVI battery packsGallery: Tesla smart mule and batteryContinue reading Greenlings: Can we build a better battery with lithium?Filed under: Emerging Technologies, Etc., EV/Plug-in, Hybrid, GreenlingsGreenlings: Can we build a better battery with lithium? originally appeared on AutoblogGreen on Thu, 07 May 2009 19:52:00 EST. Please see …

Nissan skipping SEMA this year, Mazda limiting presence…out on Chrysler, and Honda is currently evaluating their presence, although it may be reduced compared to previous years. No matter what automakers pull-out of this year’s show, expect less products on tables, fewer vendors on the floor and even fewer attendees as the aftermarket continues to struggle to keep its head above water.Gallery: SEMA 2…

Misery loves company: Throwing our wig into the ring at Reno-Fernley LeMons…onto any Chrysler product “competing” in Reno to honor the automaker’s latest union.Registration ended on March 14, so those of you who missed the deadline narrowly avoiding our cold steel scythe of justice. But if you want to come out and enjoy the madness, spectator tickets are available for either a single day or the entire wretched weekend. …

The 2011 Jeep Phoenix… why not?…gallery With Chrysler‘s proposed alliance with Fiat all but a done deal, people have begun turning their attention towards the Italian automaker’s vehicle line up and creating a wish list of which ones they’d like to see for sale over here in the U.S. Thing is, those people should keep in mind that any Fiat making the long trek overseas may not …

Chrysler Plan’s Foes Step BackA group of Chrysler lenders who opposed the government’s restructuring plan for the auto maker is disbanding after two of its five members backed out.

Scoopful of GM and Chrysler News – May 7, 2009

May 7, 2009 at 5:55 pm

Booo! GM also canceling Cobalt SS Sedan for 2010GM also canceling Cobalt SS Sedan for 2010 originally appeared on Autoblog on Thu, 07 May 2009 16:00:00 EST. Please see our terms for use of feeds.

Save the Cheerleader? GM creates Hero Edition Corvette ZR1 to benefit Kids Wish NetworkGM‘s team of Corvette designers and engineers equipped this particular ‘Vette with a bespoke graphics package with red accents in lieu of the normal blue. Other special bits include “additional carbon fiber components,” though we’re left wondering what those composite pieces may be.You can’t actually go to your nearest Chevy dealership and order…

Image: ToolPool.com

Special “Hero Edition” Corvette ZR1 [Corvette Zr1]“Hero Edition” Corvette ZR1: Finally, a special edition we can get behind. [CorvetteBlogger]

GM Kills Chevy Impala SS… Again [Carpocalypse]…analysis of GM ordering guides by forum fan-boys at GMInsideNews, GM‘s killed both the Chevy Impala SS and Chevy Cobalt SS sedan for 2010. You’ll still be able to get a Cobalt SS as a coupe, but the Impala SS is dead… for the second time. When GM said they were putting their performance divisions on indefinite hold we knew to expect no new per…

GM, University of Michigan announce new Automotive Research Institute…Michigan and GM are already partners in the Advanced Battery Coalition for Drivetrains (ABCD) and in helping to teach students to become alternative powertrain engineers. Today, GM and the school announced a new institute called the GM/U-M Institute of Automotive Research and Education that will focus on “reinventing the automobile and developin…

GM posts $6B loss in Q1, burns through $10BGM, Earnings/FinancialsGeneral Motors reported its first quarter earnings today, and the beleaguered U.S. automaker posted a $6 billion net loss compared to a net loss of $3.3 billion one year ago. At the same time, GM burned through $10.2 billion in cash during Q1, though still has $11.6 billion in cash reserves on hand thanks in large part to …

Royal College of Art students imagine mobility in 2050, see vehicles powered by waterfalls…months with GM Europe to “gain valuable work experience and insight through hands-on experience with future technologies such as electric vehicles.” One of the more dreamy ideas from an RCA student was for “eco-touring machines powered by waterfalls.” It’s a safe bet this means hydropower, but I can’t shake the feeling that unicorns should be in…

RIP: Chevy Impala SS, again…line for GM‘s 5.3L V8 engine in the midsize front-wheel drive Chevy sedan. That means the biggest available engine will be the 3.9L LGD pushrod 60-degree V6.We’ve long questioned whether the current W-body Impala does justice to the memory of Super Sports of yore, despite the presence of the V8 engine. Regardless, we’d prefer to keep the 303-hor…

GM Hosting Fleet Buyers At Pricey Spa, USA Today Waves Populist Banner [Carpocalypse]…outrage over GM hosting 500 fleet buyers at a luxury-spa-resort. The difference between banks-funded-by-the-government and automakers-funded-by-the-goverment? Automakers invite potential car buyers to resorts. Banks send themselves to resorts. [USAToday]

Fesler-Moss Builds A Corvette ZR1-Powered Camaro SS [Tuner Cars]…of GM Performance fame) teamed up to create this custom limited edition 2010 Camaro SS for the mesh-wife-beater-wearing, previously-Monte-Carlo-Dale-Earnhardt-Intimidator-Edition-driving, family-franchise-starting crowd. They’ll build your Camaro with a custom body kit with molded rear lip spoiler (how they do that is anybody’s guess) and any LS…

GM’s Renaissance Center HQ: View From The Top [Carpocalypse]…these days GM‘s Detroit Renaissance Center HQ’s a tough place to work. But the view sure is killer. Let’s take a look. This city-within-a-city was actually commissioned by Henry Ford II as the world’s largest private development at the time. As you can see from the promotional video to the left, the John Portman-designed complex began construc…

Vauxhall going after city car market with Trixx EV?GM, Opel, VauxhallWay back in 2004, GM‘s European arm put a toe in the water of the rapidly expanding city-car market with its Opel Trixx concept. A few years later, GM‘s Carl-Peter Forster indicated that the automaker would not be entering that microcar market after all. Fast forward another couple of years and (surprise!) it looks as if GM may…

GM And University of Michigan Form GM/U-M Institute Of Automotive Research And Education; Focus On Fuel-Efficiency And Reinvention Of The Automobile…formed the GM/U-M Institute of Automotive Research and Education, with a strategic focus on reinventing the automobile and developing the next generation of high-efficiency vehicles powered by diverse energy sources. The Institute, which builds on more than 50 years of collaboration between the organizations, supplements GM’s ongoing research a…

GM Posts First-Quarter Net Loss Of $5.9 Billion [Carpocalypse]GM posts first-quarter net loss of $5.9 billion, revenue drops 47% to $22.4 billion. [Freep]

The 2011 Jeep Phoenix… why not?…gallery With Chrysler‘s proposed alliance with Fiat all but a done deal, people have begun turning their attention towards the Italian automaker’s vehicle line up and creating a wish list of which ones they’d like to see for sale over here in the U.S. Thing is, those people should keep in mind that any Fiat making the long trek overseas may not …

Look Who’s Talking: Automakers rated based on web conversation volumeChrysler, LLC., Ford Justin Graves, the CEO of Infegy, which developed and offers a powerful research application for tracking online buzz, is a big Autoblog fan, particularly of our By the Numbers posts that detail sales figures for the entire U.S. auto industry. Graves makes his own monthly list of the Top 50 Social Brands, which ranks them ac…

Fiat CEO Sergio Marchionne To Take Over As CEO Of Chrysler [Carpocalypse]…will assume Chrysler‘s CEO title upon exit from bankruptcy. [Detroit News]

BREAKING: Marchionne confirmed as post-bankruptcy Chrysler CEOChrysler, LLC., FIATAfter weeks of speculation, Fiat confirmed today that its CEO, Sergio Marchionne, will assume the same role with Chrysler once it exits bankruptcy. According to statements from the Obama administration, Chrysler could emerge from “surgical bankruptcy” in as little as 30 to 60 days, after which Chrysler‘s current chief executi…

The Chrysler-Kia alliance that never wasChrysler, LLC., GM, Hyundai, Kia, FIAT, RumormillChrysler has been trying to shack up with another automaker for quite a while now, and the trail of relationships that never got off the ground reads like a middle school diary. While Chrysler‘s deal with Fiat has all but gotten 500s rolling out of plants on this continent, a deal with Kia had bee…

Chrysler bankruptcy: what happens with the electric car plans? to A123 Systems?…about what Chrysler‘s bankruptcy and partnership with Fiat might mean for cars like the Circuit EV and companies like A123 Systems, which is slated to supply batteries for Chrysler‘s electric vehicle lineup.Reuters says that “the sum of Fiat and Chrysler‘s parts does not amount to the kind of electric vehicle powerhouse that Renault and Nissan a…

Chrysler crowns new King – Marchionne confirmed as post-bankruptcy Chrysler CEO;

May 7, 2009 at 12:51 pm

(Source: Autoblog via The Detroit News)

After weeks of speculation, Fiat confirmed today that its CEO, Sergio Marchionne, will assume the same role with Chrysler once it exits bankruptcy. According to statements from the Obama administration, Chrysler could emerge from “surgical bankruptcy” in as little as 30 to 60 days, after which Chrysler’s current chief executive Bob Nardelli will step down and Marchionne will step in. 

A dual Canadian and Italian citizen, the Ontario-educated Marchionne is credited with turning the Fiat Group around from a money-losing enterprise into one of the largest and most successful automakers in the industry. After taking over the helm at Fiat five years ago, Marchionne said he would need to double its sales to 5.5 million units annually in order to make the company financially viable. His vision for separating Fiat, Lancia and Alfa Romeo out of their parent company and into a new auto group together with Chrysler (and potentially with GM’s European and Latin America.

Scoopful of GM and Chrysler News – May 6, 2009

May 6, 2009 at 2:14 pm

GM adds shift at Oshawa to keep up with Camaro demand…enough that GM has asked workers at the assembly plant in Oshawa, Ontario, to work through the week of June 29, which had previously been scheduled as mandatory time off. Furthermore, Camaro orders are expected to be strong enough to keep the Oshawa plant’s flex line humming along on Saturdays in June, July and August, and that means overtime fo…

 Rumormill: Buick Astra coming in 2011?…products from GM‘s European Opel division are reports from GM Inside News indicating that a small car based on the Astra platform – initially planned for the now-defunct Saturn brand – has been transferred to Buick’s entry-level luxury division.Assuming these rumors are true, we can expect to see the new Buick in North America in late 2011 as a ..

REPORT: Renault after Saturn, Geely after Saab …deal with GM would allow Renault and its South Korean subsidiary, Samsung Motors, to sell its wares in the States though the existing retailers, possibly marketing the new vehicles as Saturns and building some of the vehicles using the General’s underutilized plants. How the deal would flesh out financially remains to be seen, but there’s a chan…

GM Oshawa Plant Adds Shift To Build More Presumably Non-Faulty Camaros [Chevy Camaro] GM‘s adding one more shift at its Oshawa, Ontario plant due to high demand for the recently released Camaro. Does this mean we’ll be getting more electrically-faulty Camaro SS units? Presumably not. The Peterborough Examiner reports demand has been so high that GM has scheduled the week of June 29th as a work week instead of the previously plann…
REPORT: GM voluntarily recalling Camaro for battery cable issue …but GM is reportedly offering two options for owners: a temporary fix that requires a second visit to a dealer and a permanent fix. The temporary fix involves wrapping the battery cable with protective insulating tape and rerouting it to ensure enough clearance between it and the starter. The permanent fix involves the same thing, except will us…
What’s The All-Time Greatest FWD Car? [Question Of The Day] GM wanted to compete with the Thunderbird and try out their newly-designed FWD platform. It just so happened a designer for the company put together a gorgeous coupe concept. One of the advantages of FWD is, theoretically, improved fuel economy. But this was the 1960s, so they stuffed a 7.0-liter “Super Rocket” V8 with 385 HP and 475 lb-ft of to…
REPORT: Renault A “Serious Suitor” For Saturn [Carpocalypse] …for GM‘s Saturn. Say that ten times fast. [WSJ]
GM trying to sell Opel, but will keep Ampera (the Opel Volt) …coming from GM troubles (Saturn hybrids? Say what?), there is one thing you can count on: GM is keeping the Volt. Of course they’re keeping the Chevy Volt – that was never in question – but things were just a tiny bit less clear regarding GM‘s possible sale of Opel. Whatever happens with the brand, the Opel Apmera, the European version of the Vo…
Camaro SS Recalled For Battery Cable Issue [Chevy Camaro] …now told GM‘s officially issuing a recall for the problem on the Camaro SS. UPDATE BELOW. Although we’re told it only takes about 30 minutes to fix, we’re being told GM‘s now issued a voluntary “official recall” on the 2010 Chevy Camaro SS over the battery cable issue that caused one Camaro5 member’s new Bumblebee-yellow mullet-mobile to die les…
Saab CEO Claims Not In Talks With Fiat [Carpocalypse]Saab CEO claims not in talks with Fiat. They’re the only brand that’s not. [Reuters] 
GM pledges to use plug-in hybrid tech in only one brand GM, SaturnThe Saturn Vue was supposed to be GM‘s first plug-in hybrid, but the pending loss of Saturn leaves the General’s upcoming plug-in tech without a vehicle or brand. The Vue plug-in was originally going to arrive in 2011 in a cooperative demonstration test fleet with the U.S. Dept. of Energy (DOE) and nonprofit Electric Power Research Ins…
 GM Plans To Wipe Out Current Shareholders [Carpocalypse]GM plans to wipe out current shareholders. Wait, more than they already have? [Reuters]
Plug-In Hybrids: More Hype Than Hope?…automakers like GM and Nissan. In the meantime, drivers like Morrison say they ferret out electrical outlets in parking garages and behind buildings so they can plug in as often as possible. EV advocates are quick to note the Prius wasn’t designed to be a plug-in hybrid, and in fact makes a lousy one. The biggest problem is the electric motor i…
Gallery: Goin’ Down the Road in Defunct Car Brands GM commissioned a young stylist named Harley Earl to design the car. What he came up with is widely considered the beginning of modern automotive styling. Photo: Flickr/Brian Toad Photography: Photo: Courtesy Nash MotorsNash may be the most innovative company only an auto geek has heard of. Wind-tunnel testing, flow-through ventilation systems,…
GM Will Apply Plug-in Hybrid Technology To One of Its Remaining Four Core Brands, Delivery Still in 2011
…post on GM’s FastLane blog, Vice Chairman Tom Stephens said that the company will apply plug-in hybrid technology to one of the four core brands remaining after the restructuring: Chevrolet, Cadillac, Buick and GMC. Saturn currently sells two hybrid vehicles (VUE and Aura with GM Hybrid System) and was scheduled to begin initially offering a …
Plug-in Saturn Vue not dead, will be revived (sorta) by 2011 …now own GM, it turns out that AutoblogGreen readers and GM executives think alike. In a poll we ran yesterday, the most popular choice for what to do with the Saturn hybrid powertrains was “Move the powertrain to the Equinox.” A GM spokesperson said today that, although the brand itself will indeed be sold, the powertrain – both the standard and…
Saab denies talks with Fiat…to acquire GM Europe while working on its partnership with Chrysler, according to Saab CEO Jan-Ake Jonsson, the Swedish automaker isn’t part of the deal.Jonsson said Saab is currently being courted by ten potential buyers, but Fiat isn’t one of them. Saab spokesman, Eric Geers went on to tell Reuters, “We now have ten very serious interested par…
Chrysler launches May incentives worth up to $6,000 Chrysler, LLC., Dodge, JeepChrysler doesn’t have time for assurance programs and payment protection plans. So unlike General Motors and Ford, the Auburn Hills-based automaker has launched a new incentive program for May that gives consumers back what they want most: money, and lots of it. Beginning today, Chrysler is offering $4,000 Consumer Cas…
Chrysler Offering $4,000 In Incentives On 2009 Models [Carpocalypse] Chrysler is offering up to $4,000 worth of incentives on 2009 model year vehicles in a bid to reduce inventory and counter its prolonged sales slump. One discarded sales idea? Building better passenger cars. The company says the incentives, which begin Wednesday, focus on the bottom-line price of the car as opposed to, you know, the interest con…
UAW will eventually sell Chrysler stock to keep VEBA going …New New Chrysler for very long. Outgoing UAW president Ron Gettelfinger confirmed in a press conference yesterday that the union’s Voluntary Employee Beneficiary Association (VEBA) will likely sell part or all of its 55% stake in the newly formed automaker once its stock appreciates, that is, if its stock appreciates. And why would the UAW want …
Gallery: Goin’ Down the Road in Defunct Car Brands…least until Chrysler goes under. : Photo: Flickr/Wigwam JonesThe Checker Marathon may be second only to the original VW Beetle as the most recognizable car in the world. The cars were ubiquitous as taxis and, like the Beetle, the first one to roll off the line in 1962 looked pretty much like the last one to roll of the line in 1982.: Photo; Cour…
Chrysler Maybe Not Canceling Wrangler So Much [Carpocalypse]…post on Chrysler considering killing the Jeep Wrangler, we circled back and actually read the source material Edmunds InsideLine links to and decided maybe Chrysler wasn’t looking at killing the golden goose after all. After looking over the statements from Robert Manzo, the executive director of Capstone Advisory Group LLC who’s been hired to c…
Daily U-Turn: What you missed on 5.5.09…What does Chrysler‘s restructuring plan have in store for the Viper?Long before bankruptcy and a Fiat partnership, Chrysler was looking to offload the Viper line. According to new bankruptcy documents, the Snake-badged stunner may finally face the axe. Rumormill: Nissan 370Z Hybrid for 2011?Reports ou…
Chrysler and Fiat: A merger of equally unreliable product?Chrysler, LLC., FIAT Familiarizing ourselves with Fiat – Click above for a high-res image gallery Chrysler‘s reliability ratings from Consumer Reports have been less-than-stellar in recent years. In its 2008 survey, where CR tallied up its subscribers’ experience with some 1.4 million vehicles among 34 brands, Jeep came in 28th, Dodge took the 3…
Court documention reveals which Fiats and Alfas are destined for U.S.Chrysler, LLC., Alfa Romeo, FIAT Fiat 500 – Click above for a high-res image gallery Curious which of its models Fiat plans to send over to the United States to sell through its planned partnership with Chrysler? Wonder no more. The most recent set of documents filed in Chrysler‘s Chapter 11 proceedings offer a number of intriguing clues as to w…
REPORT: Chrysler unlikely to pay back most recent $4.5 billion gov’t loanChrysler, LLC., UAW/UnionsRepayment of the $4.5 billion life-line in U.S. and Canadian loans that a federal bankruptcy court allowed yesterday is “highly unlikely,” according to Ron Manzo, a top company adviser. To Chrysler‘s bankruptcy legal team, that is not the issue. Urging the court “to let this company live,” automaker attorney Corinne Bal…
Saab denies talks with Fiat…partnership with Chrysler, according to Saab CEO Jan-Ake Jonsson, the Swedish automaker isn’t part of the deal.Jonsson said Saab is currently being courted by ten potential buyers, but Fiat isn’t one of them. Saab spokesman, Eric Geers went on to tell Reuters, “We now have ten very serious interested parties which have visited us in Trollhattan …
REPORT: Next Chrysler CEO salary capped at $500,000Chrysler, LLC., Earnings/FinancialsThe next chief executive of Chrysler will be tasked with bringing the company out of bankruptcy, restructuring into a profitable business, repaying government loans (if and when they do so at all), integrating Fiat technology and retaining jobs wherever possible. Oh, and he or she will have to do it all on no m…
REPORT: Chrysler pursuing clause to award Fiat $35 million if deal falls apartChrysler, LLC., Earnings/Financials, FIATThink Fiat’s getting a pretty sweet deal with Chrysler? The Italian automaker is, after all, gaining a 20% stake in the troubled American automaker, plus local manufacturing capacity and access to its dealer networks, all without paying a thin dime. Not a bad deal, but Chrysler‘s hard at work trying to ma…

Scoopful of GM and Chrysler News – May 5, 2009

May 5, 2009 at 5:36 pm

 Rumormill: Vauxhall going after city car market with Trixx EV?GM‘s European arm put a toe in the water of the rapidly expanding city car market with its Opel Trixx concept. A few years later, though, GM‘s Carl-Peter Forster indicated that the automaker would not be entering that microcar market after all. Fast forward another couple of years and (surprise!) it looks as if GM may be once again reversing tha…

 REPORT: Penske lines up as potential Saturn suitorGM, SaturnThe typical relationship between automakers and dealerships, of course, is for the dealers to sell the cars that the automaker produces. But with General Motors shedding like a dog in springtime, it’s the dealers who have been looking to buy the brands themselves. Following interest expressed by German dealers to acquire Opel and a gro…

Test Drive A Chevy Traverse, Get A Massage [Carpocalypse]GM]

GM updates state of Saturn, potential buyers being reviewedGM, SaturnGeneral Motors is busy putting the finishing touches on its third (or is it fourth?) viability plan, part of which involves the sale or shut down of the Saturn division. While many were expecting GM to close down Saturn, GM has released a press release to tell the world that the fledgling marquee is on the block, and there are several …

GM Testing Indicates 2010 Chevrolet Equinox Will Offer Best-In-Segment Highway Fuel Economy of 32 mpg
…Internal GM testing of the new 2010 Equinox indicates that the front-wheel drive models with the direct-injected 2.4-liter I-4 engine will offer an EPA estimated 32 mpg on the highway and 22 mpg city. GM expects final official EPA estimates shortly. The 2010 Equinox will likely carry a 32 mpg highway rating. Click to enlarge.At 32 mp..

Magna Confirms Involvement in Potential Opel Transaction…acquisition of GM Europe.

Daily U-Turn: What you missed on 5.4.09
…Chrysler and GM EuropeFiat’s alliance with Chrysler is only the beginning, as the Italian automaker makes a bid at acquiring General Motors’ European operations, including Opel, Vauxhall and Saab. Other news of import Chrysler begins “New Car Company” ad campaign in newspapers 2010 Chevy E…

GM hopes to sell Saturn by the end of 2009
…That GM would sell Saturn has been floating around for what seems like ages now, but the most recent word from GM on the fate of the brand was that the “resolution” had been bumped up in the schedule to the end of 2009. GM just released a statement about the Saturn sale, saying that, “A number of potential buyers have surfaced and expressed inte…

Chrysler Predicts Profit by 2012 Chrysler lost $16.8 billion last year and expects to lose another $4.7 billion this year before turning profitable in 2012, a court filing shows.

Saab denies talks with Fiat…partnership with Chrysler, according to Saab CEO Jan-Ake Jonsson, the Swedish automaker isn’t part of the deal.Jonsson said Saab is currently being courted by ten potential buyers, but Fiat isn’t one of them. Saab spokesman, Eric Geers went on to tell Reuters, “We now have ten very serious interested parties which have visited us in Trollhattan ..

REPORT: Next Chrysler CEO salary capped at $500,000Chrysler, LLC., Earnings/FinancialsThe next chief executive of Chrysler will be tasked with bringing the company out of bankruptcy, restructuring into a profitable business, repaying government loans (if and when they do so at all), integrating Fiat technology and retaining jobs wherever possible. Oh, and he or she will have to do it all on no m…

Chrysler pursuing clause to award Fiat $35 million if deal falls apartChrysler, LLC., Earnings/Financials, FIATThink Fiat’s getting a pretty sweet deal with Chrysler? The Italian automaker is, after all, gaining a 20% stake in the troubled American automaker, plus local manufacturing capacity and access to its dealer networks, all without paying a thin dime. Not a bad deal, but Chrysler‘s hard at work trying to ma…

One Thing Separating Chrysler HQ From Most Malls [Carpocalypse]…explained earlier Chrysler‘s Auburn Hills, MI Headquarters was designed to easily convert into a mall if it needed the dues. However, there’s one thing we neglected to mention separating Chrysler‘s HQ from most malls. As you see below, if you scroll your Google map a little bit to the right you’ll find the 1.8 mile-long test track that sits adja…

What does Chrysler’s restructuring plan have in store for the Viper?Chrysler, LLC., Dodge, FIAT Dodge Viper SRT-10 – Click above for a high-res image gallery Long before factors like bankruptcy and Fiat’s involvement, Chrysler was looking to offload the Viper line. Several potential buyers were reportedly being considered, but months down the line no deal has been announced. In the meantime, of course, Chrysler …

Chrysler To Kill Jeep Wrangler? [Carpocalypse]…from the Chrysler bankruptcy cast doubt on the future of the Jeep Wrangler. Is somebody in Auburn Hills taking crazy-pills? Killing off weak models in order to save the strong is something Chrysler is going to have to do if it ever wants to be a profitable automaker again, but considering putting the Wrangler on such a sacrificial altar is somet…

Chrysler HQ designed for mall duty if automaker leavesChrysler, LLC., Humor Chrysler HQ a mall? Click above for high-res image gallery Leave it to our friends at Jalopnik to discover this most interesting fact about Chrysler‘s headquarters in Auburn Hills, Michigan. The 500-acre site that’s crowned by a glass tower with a 35-foot tall Pentastar window visible from I-75 was reportedly designed in su…

Fiat Delivers Custom Ducato For Papal Service [Custom Cars]…of the Chrysler faithful, Fiat has delivered a customized Ducato van to the Papal motorpool for use in touring parts of the Italian countryside destroyed by the recent earthquake. From the outside, the Ducato appears to be any other run-of-the-mill Italian Civil Defense Force vehicle, wearing the proper paint job to fit right in, but inside it’s…

Chrysler HQ Designed To Convert Into Shopping Mall [Carpocalypse]
Chrysler’s corporate headquarters in Auburn Hills appears to be a shopping mall. This is not an accident. BusinessWeek published an article two weeks ago about the value of Chrysler’s various assets in anticipation of its bankruptcy, which has since happened. Here’s the most interesting bit: The Chrysler headquarters building is a spectacular si…

UAW Wants To Get Rid Of Chrysler Share Quickly [Carpocalypse]
…t want Chrysler either. [Reuters]

Scoopful of GM News – May 4, 2009: Saturn sales; Negotiations intensify; Fiat love; Hybrid sales; Equinox MPG; Dealer lawsuits; “Buy American” in Hot water; No love for Chevy Volt; etc..

May 4, 2009 at 5:17 pm

GM Hires Adviser to Help Sell Saturn

General Motors said it is moving ahead with plans to sell its Saturn brand after receiving interest from multiple suitors.
GM Shifts Negotiations Into High Gear
General Motors is expected this week to accelerate talks with the United Auto Workers union and move toward closing about 2,600 dealerships.
GM Evaluating Offers for Saturn; Fiat Eyeing GM Europe in Addition to Chrysler
GM said it will be reviewing expressions of interest from the potential buyers and will look to secure an agreement with a specific buyer later this year. Separately, Fiat said on Sunday that it was exploring the possibility of merging its auto business and interest in Chrysler with GM Europe to create a large automotive group with more than…from Green Car Congress 
US Hybrid Sales Down 45.5% in April
GM and Nissan dropped 45.5% year-on-year in April to 21,735, despite full month sales for the new Honda Insight and the Ford Fusion and Milan hybrids. Total LDV sales in the US were down 34.4%. (Earlier post.) The reported sales represented a 2.65% hybrid new vehicle market share (based on Autodata’s total LDV sales figure)—the highest monthl…from Green Car Congress 
2010 Chevy Equinox expected to hit 32 mpg highway
…tests at GM are showing the Equinox hitting 32 mpg on the highway cycle. In the city, the Equinox is expected to get rated at 22 mpg. Those numbers easily top competitors like the Honda CR-V at 20/27 city/highway mpg and the Toyota RAV4 at 22/28 mpg. The Equinox should be in dealer showrooms in June. Gallery: 2010 Chevrolet Equinox[Source: Gener…from AutoblogGreen 
GM dealer downsizing could lead to barrage of lawsuits
GM, Earnings/FinancialsRock, meet hard place. With General Motors handed a directive from the White House to be ultra-aggressive in its restructuring in order to secure more government loans, the automaker is making cuts everywhere and dealers are far from immune. As reported previously, GM‘s plan to shrink its retailers from nearly 6,300 to 3,7…from Autoblog 
At Witz’ End – Range Anxiety Q&A
…theory that GM sold its Nickel Metal Hydride (NiMH) battery patents to an oil company (Chevron? Exxon?), and then that evil oil company sued Toyota to prevent it from using NiMH batteries to keep them off the market because they might “threaten their oil business.” Jeeesh!On the first count, I LOVE the smooth, silent, seamless, torquey, petroleu…from AutoblogGreen
eBay Find of the Day: Damaged ZR1 on the cheap
GM‘s two-day ZR1 driving school first.Gallery: eBay Find: Damaged Corvette ZR1[Source: eBay via CorvetteBlogger]eBay Find of the Day: Damaged ZR1 on the cheap originally appeared on Autoblog on Mon, 04 May 2009 14:58:00 EST. Please see our terms for use of feeds… from Autoblog
Dealer Association takes issue with Obama’s ‘buy American’ stance
…bankruptcy and GM‘s impending viability deadline, it’s easy to understand why President Obama made the Buy American comment. Purchasing new cars and trucks would help stimulate the economy, and buying American certainly wouldn’t hurt. But what does the old adage mean nowadays? Hit the jump to read the AIADA’s brief press release. [Image Credit: …from Autoblog
In Case Anyone Was Wondering, GM’s Still Trying To Sell Saturn [Carpocalypse]
GM‘s still trying to sell Saturn — or kill it. Heck, they’ve even put out a press release to make sure you remember. GM to proceed with efforts to sell Saturn DETROIT – General Motors is proceeding to the next step with respect to the sale of Saturn. A number of potential buyers have surfaced and expressed interest in the Saturn brand and r…from Jalopnik 
Fiat CEO in Berlin to Buy GM-Europe, Opel [Carpocalypse]
…talks with GM to acquire GM Europe and its subsidiary, Opel. As we have posted earlier, Opel is in dire straits, needing $4 billion to survive the Carpocalypse. The German state has thus far avoided a bailout, offering instead state support for potential investors. Here is where Fiat enters the fray. The Wall Street Journal’s Stacy Meichtry repo…from Jalopnik 
Fiat considering new company to combine Chrysler and GM Europe
GM, Opel, Vauxhall, Alfa Romeo, FIATApparently, Fiat’s alliance with Chrysler is only the beginning. According to a variety of reports coming out of the UK and Germany, the Italian automaker’s expansion plans aren’t limited to its 20% stake in Chrysler – Fiat is also considering acquiring General Motors’ European operations, including Opel, Vaux…from Autoblog
GTO: Pontiac’s Great One, by Darwin Holmstrom [Jalopnik Book Reviews]
…about how GM‘s 40-year downward spiral really got rolling). The story is blessedly free of hypersimplified and/or head-slappingly nostalgic nutshell descriptions of the sociopolitical climate of the 1960s- all too common in car books- and for that alone it deserves praise. We get technical details of Pontiac’s tough-but-flawed Strato-Streak engi…from Jalopnik 
WaPo: GM would be better off without Chevy Volt
…s keeping GM – or at least the spirit of GM – alive as the company falters is the Chevy Volt. Washington Post columnist Charles Lane is not one of them. The Volt is designed to give 80 percent of Americans a car that, while it costs more than a similar, non-electric model, offers a chance to dramatically reduce their gasoline consumption. To Lan…from AutoblogGreen 
Vauxhall sans Opel could reallign with GM Daewoo, Holden
GM, Holden, Opel, VauxhallChevrolet Aveo, a.k.a Chevrolet Kalos/Daewoo Gentra/Holden Barina/Pontiac Wave – Click above for a high-res image gallery Eyebrows raised at reports that General Motors could hold on to its British subsidiary Vauxhall even if – or, more likely, when – its German counterpart Opel would leave the family. With the model r…from Autoblog 
Camaro Grilles Cracking At High Speed? [Chevy Camaro]
…something that GM can fix by adding more bracing perhaps, or a thicker nose molding. This 2010 SS was a production car, only a week old, so this concerns me. It might not be a good idea to do any high-speed runs in your new Camaro, at least until we understand the problem and how to fix it first. Nevermind the high speed runs, maybe it’d also b…from Jalopnik 
GM and Ford hybrids have a good sales month in April
…At GM, hybrid sales have been holding steady in recent months and are well ahead of April 2008. Last year, GM moved a little over 1,100 hybrid models including the two-mode trucks and the mild hybrid cars and SUVs. Last month that number stood at 1,534 units bringing the 2009 hybrid total to 5,156 vehicles. At Ford, April was the first full sale…from AutoblogGreen 

Haunted by bankruptcy fears, GM Shifts Negotiations Into High Gear

May 4, 2009 at 12:31 pm

(Source: Wall Street Journal)

General Motors Corp. is expected this week to accelerate talks with the United Auto Workers union and move toward closing about 2,600 dealerships.

 The giant auto maker also is likely this month to approach banks holding secured debt, hoping to work out terms to ease the company’s debt burden.

Reaching agreement on these fronts is critical if GM is to restructure outside of bankruptcy court.

The company has new leverage as it re-engages in talks, thanks to the bankruptcy filing last week by Chrysler LLC. But differences between the two auto makers mean that leverage can take GM only so far.

“The move with Chrysler signals to the GM creditors that bankruptcy is a viable option,” said Lewis Rosenbloom, a bankruptcy lawyer with Dewey & LeBoeuf. Mr. Rosenbloom’s firm does extensive work for GM and Chrysler. “The government is not just going to throw money at this without getting a consensual accord, so I think this is a harbinger of things to come.”

The Treasury Department has given GM until June to work out a restructuring plan and has indicated it may push the company into bankruptcy if the necessary deals don’t materialize.

GM’s hopes of staying out of court hinge on its ability to convince thousands of unsecured bondholders, owed $27 billion, to accept a small equity stake in the company in exchange for forgiving most of the debt. Several bondholders have said the equity exchange will fail if the terms aren’t sweetened.

GM isn’t just slimming down U.S. operations.

Last Monday, GM Chief Executive Fritz Henderson said the company may sell its entire stake in Opel, which is the heart of GM Europe’s operations.

Beyond shedding business units, GM has yet to ink a deal with the UAW on labor-cost reductions and retooling retiree health-care obligations. Those talks are expected to take all month. GM is offering its union a 39% stake and about $10 billion in cash in exchange for the $20 billion the company owes a UAW trust fund responsible for paying health benefits.  UAW president Ron Gettelfinger said the union will turn up the heat on GM talks after it gets squared away with the Chrysler bankruptcy.

Click here to read the entire article.

Scoopful of GM News – May 1, 2009: Fiat’s Opel tango; Rendered speculation; Commodore comback; e-Bay finds; Collectors items; Mullet of the Law; April Sales

May 1, 2009 at 2:05 pm

Auto threesome? Fiat CEO confirms pursuing partnership with OpelGM, Opel, Vauxhall, FIAT, UAW/UnionsAs if Fiat doesn’t have enough on its plate while working on an alliance with Chrysler during its bankruptcy proceedings, the Italian automaker’s CEO has finally confirmed that it’s pursuing an alliance with General Motors’ German arm Opel.In the Fiat-owned newspaper La Stampa, CEO Sergio Marchionne said, “Now…from Autoblog

Rendered speculation: Chevrolet Sky-Volt?…disappointment to GM fans was the transformation of the Chevy Volt from concept to production form. The sporty, aggressive concept was to many eyes made too generic for production. One of our readers came up with a novel solution to both problems. Just graft the Volt concept nose onto the Sky and install an adaptation of the Voltec powertrain an…from AutoblogGreen 

REPORT: RWD Commodore platform could underpin Caddies, G8 GT could make a comebackGM, GMC, Australia Pontiac G8 ST – Click above for a high-res image gallery With Pontiac’s death official, Holden stands to lose around $1 billion annually with the demise of the Pontiac G8. However, Holden doesn’t plan to go quiet into night. The Aussie automaker has drawn up plans to offer the rear-wheel drive Commodore platform to Cadillac an…from Autoblog 

Opel Insignia SportTourer OPC: An Audi S4 Avant-Fighter [Rendered Speculation]…heard that GM is pondering whether or not to bring the Insignia over here as a Buick, but with the current financial situation being faced by the General, we won’t believe anything until we see it. While we’re asking questions — How about an Audi RS4 fighter, or is that asking waaaay too much? [illustration via KORSdesign]from Jalopnik 

eBay Finds of the Day: Pontiac Vibe GT-R and G6 GXP SEMA showcars…world GM division. But for a lucky two, that thrill can be experienced every day on their own driveway as two past Pontiac show cars have popped up on eBay Motors for sale.First up is the Pontiac Vibe GT-R that debuted at the 2002 SEMA show in Las Vegas. Boasting a unique Opera Red Metallic paint job, ram-air induction hood scoop, special body-k…from Autoblog

CNBC’s Dennis Kneale Wouldn’t Know A Car If It Hit Him In The Ass [Auto Tech Wars]…in every GM vehicle. That aux-in jack that can be found in every GM product is the same aux-in jack you’ll find in every Toyota product. But more to the point of supposed technological superiority — find me a Toyota or Honda-branded vehicle with a plug-in-play system that works as effortlessly as Ford’s Sync system. Tell you what — Kneal…from Jalopnik 

Pontiac G8 GXP, Solstice Coupe – Future collectors items? [w/POLL]…lost when GM inexplicably dropped classic names like Bonneville, Grand Prix and Grand Am.We’re not going to disagree with that assessment, but it may not be the whole story. If sales figures alone can predict a future classic, perhaps we should rush out and put a new Solstice Coupe GXP in our driveway. We spoke with Pontiac’s media relations man…from Autoblog

Camaro Police Cruiser: Long Mullet Of The Law [Chevy Camaro]The 2010 Chevy Camaro is likely to attract its fair share of police attention. But what if the new Camaro was the police car? Whoa. Rendered gallery below. The detailed photoshop adds much of the features you’d expect from a police car, including the push-bar and an LED light-strip above the roof. Without many additions the Camaro looks the part of…from Jalopnik 

GM Autosales for April fell 33% – Toyota Falls Behind Ford Ford Motor’s vehicle sales dropped 32% last month, but the healthiest of Detroit’s auto makers outsold Toyota in the U.S. for the first time in at least a year. GM’s sales fell 33%.

Chrysler to File for Bankruptcy Following Collapse of Negotiations; President Obama to address the nation

April 30, 2009 at 9:45 am

(Source: Washington Post)

Chrysler, one of the three pillars of the American auto industry, will file for bankruptcy today after last-minute negotiations between the government and the automaker’s creditors broke down last night, an Obama administration official said.

 U.S. officials had offered Chrysler’s secured lenders $2.25 billion in cash if they would agree to writedown the $6.9 in secured debt that the company owed. But a small group of hedge funds refused the 11th-hour deal, forcing an imminent bankruptcy.

An administration official this morning expressed disappointment, saying the holdouts had failed to “do the right thing,” but that “their failure to act in either their own economic interest or the national interest does not diminish the accomplishments made by Chrysler, Fiat and its stakeholders, nor will it impede the new opportunity Chrysler now has to restructure and emerge stronger going forward.”

President Obama is scheduled to address the issue at noon today at the White House.

As talks broke down late last night, it became near certainty that the Obama administration would send Chrysler into bankruptcy under a plan that would replace chief executive Robert L. Nardelli and pump billions of dollars more into the effort, all in hopes that the company could emerge from court proceedings as a re-energized competitor in the global economy.

The U.S. government’s attempt to save the automaker amounts to another extraordinary intervention in the economy and a landmark event in the history of the American auto industry.

Under the administration’s detailed plan for a “surgical bankruptcy,” ownership of Chrysler would be dramatically reorganized, the leadership of Italian automaker Fiat would take over company management and the U.S. and Canadian governments would contribute more than $10 billion in additional funding.

Negotiations between the government and the company’s stakeholders — Chrysler’s lenders, the union and proposed merger partner Fiat — went well into the night, as dealmakers rushed to meet President Obama’s April 30 deadline.

Last night, the United Auto Workers union overwhelmingly ratified the administration proposal to give its retiree health fund the 55 percent equity stake in Chrysler. In exchange, the health fund must give up its claim to much of the $10 billion that Chrysler owes it. Eighty-two percent of production workers and 80 percent of skilled-trades workers voted for the agreement.

While four of Chrysler’s major creditors — J.P. Morgan ChaseCitigroupGoldman Sachs and Morgan Stanley — have agreed to the Treasury’s plan, other lenders, mainly hedge funds, had held out. The holdouts included Oppenheimer Funds, Perella Weinberg Partners and Stairway Capital, two sources said. The last two have funds that invest in “distressed” companies. It is not known what companies ultimately failed to reach agreement with the government.

The hedge funds likely think they could get a better return in a bankruptcy filing or in a sale of Chrysler’s assets, said Sheldon Stone, a turnaround expert at Amherst Partners. The government offer made yesterday would represent a recovery of about 32 cents on the dollar. A recent Standard & Poor’s analysis said the lenders could recover 30 to 50 cents on the dollar.

Put a fork in it? Obama planning to announce Chrysler bankruptcy tomorrow

April 29, 2009 at 6:35 pm
According to a report by Bloomberg citing the usual unnamed sources, President Obama will announce tomorrow that Chrysler will file for Chapter 11 bankruptcy while continuing to work on its alliance with Fiat.

Bloomberg‘s source made it clear that the there are still several loose ends and the plan “is not finished yet,” but it will likely involve Chrysler’s strongest assets being bundled and sold to a new entity. In that scenario, Fiat would become a 20% owner of the Auburn Hills-based automaker, the UAW retiree health-care trust would take a 55% percent stake and the government would gobble up the rest. Essentially, it’s the same out-of-court deal initially proposed, but now, with all the benefits (and hurdles) of bankruptcy protection. 

As part of ongoing negotiations, the U.S. Treasury raised its offer to Chrysler’s lenders, offering them $2.25 billion in cash to forgive $6.9 billion in secured debt, two other people familiar with the matter said. The previous offer had been for $2 billion in cash.

One issue remaining is the U.S. government’s effort to combine Chrysler Financial and GMAC LLC, the lending units affiliated with Chrysler and General Motors Corp.

The idea is to ensure that Chrysler has a well-capitalized credit arm, as required by Obama’s automotive task force, said people familiar with the situation.

Sheila Bair, chairman of the Federal Deposit Insurance Corp., has expressed concern that such a combination would involve her agency guaranteeing its debt, according to two people familiar with her views.

(Source: Bloomberg & Autoblog)