GM Files Documents In Court: New Chrysler to honor pre-bankruptcy debt

It is being reported that General Motors has filed documents in court against New Chrysler; GM hopes that they will force Chrysler into honoring its full pre-bankruptcy debt of $531,275. As yet the company has only agreed to pay back a third for work that was done on the Two-Mode hybrid powertrain. Read more

GM CEO Fritz Henderson: Exiting bankruptcy protection

On June 1, 2009, General Motors had filed for bankruptcy protection, well according to General Motors CEO Fritz Henderson; GM will be able to exit bankruptcy protection long before the 60 to 90 days timeline. Henderson said that GM is moving aggressively and according to plan. Read more

GM and Chrysler dealerships closing, restructuring and confidence

It has been an extremely busy time for GM and Chrysler of late with all of the news of dealership closures. We have previously reported news on questions and answers to do with the closing of dealerships which you can read more about here Read more

GM and Saab tech-sharing plans

We know that General Motors Corporation (NYSE:GM) are selling its Swedish subsidiary Saab, but the two companies have agreed to cooperate with each other once they part. Last month Saab filed for bankruptcy protection so they can attempt to reorganize its business. Read more

GM to launch Opel Ampera plug-in hybrid in 2011

The world has been waiting for the biggest news in the auto industry, and that news came today at the 79th Geneva Motor Show, General Motors Corporation (NYSE:GM) will launch the Opel Ampera in 2011. This electric vehicle comes with a 500km extended range. Read more

GM holding back incentive payments to help cash flow

GM is holding back on their incentive payments to dealers from November 28 to December 11, this also includes customer and dealer cash. General Motors VP of North American sales, Mark LaNeve said that any delay on a payment like this helps to increase cash flow.

With huge debts mounting up, GM needs to do all they can to try and save money where possible. I wonder if they will start to cut their huge bonuses and pay checks that execs receive. GM say that by stopping this incentive for two weeks will help the automaker save around $300 million. Read more

Camaro Accessories, Black, and Earnhardt, Jr. at live show

GM have been showing all there is to show of the Camaro, they had a range of different Camaro’s on show as well as a host of accessories. On show at Camaro Live was the Camaro Black Concept, Camaro Convertible Concept and the Dale Jr. Camaro. Read more

Order your 2010 Chevrolet Camaro today: Prices released

We have been waiting such a long time for pricing details of the 2010 Chevrolet Camaro, but now thankfully General Motors have released prices for it. There are two models in the range, first is the V6-equipped LS and secondly is the V8-powered SS model. Read more

GM Stock Price: could the company run out of cash

We hit upon the point earlier on that the GM stock price was in trouble on Thursday, and in the opening minutes of Friday the company hit its lowest level since 1949. The constant worry for GM in this weakening global market is that they will not be able to pull themselves out before they run out of cash. Read more

GM News Announcement: survival in economic crisis

The current economic crisis is bad the world over and while its hitting some companies hard, GM shows just how bad with numbers.

Today we are hearing from a GM CEO news announcement that the automaker is making some massive cut backs just in order to survival the economic crisis, Rick Wagoner has shown in this press release just how bad things are.

General Motors are taking drastic measures that include cutting 20% of salaried workforce, selling off $4 to $7 billion in assets and halting its quarterly dividend payout.

This may seem harsh but it’s also a decision that will enable GM to take some control in the current economic crisis and maintain operating liquidity.

The current oil prices have continued to increase and it’s anyone’s guess where they will go from now, this fact has hit GM hard on its truck and SUV lines.

Rising gas prices have not just affected GM, we expect others in the American auto industry to make similar announcements in the coming weeks that will show how bad the auto industry has been hit by the price of oil.

GM is now hoping to replace its experienced and expensive workers with cheaper labor by offering them all buyouts. Do you think GM has made the right choices?

Source: Read

Toyota and General Motors Recall: Corolla, Matrix and Pontiac Vibe’s

Today we are hearing that Toyota and General Motors have issued a recall of 662,093 small cars in the U.S. The cars being recalled include 122,593 Pontiac Vibes from GM, 539,500 of Toyota’s 2004 and 2003 model Matrix and Corolla cars.

The reason given for the recall was because of “a flaw that could cause power windows to fail” and Bloomberg reported, “In some cases, bolts in the driver and front-passenger doors may fail and allow the window glass to come loose”.

Even though this is the case, we are hearing that it will not be to the end of the month when Toyota will begin notifying owners by mail.

Official pictures of the Chevy Cobalt SS Sedan

Thanks to General Motors we can now see the first official pictures of their Chevy Cobalt SS Sedan, as you can see this sedan is just the same as the coupe version. So nothing has changed in the engine department, you get the same two-liter turbocharged engine as the coupe and will push out 260 horsepower.

The Chevy Cobalt SS Sedan from GM comes with a five speed gearbox and will go from 0-60 in 5.7 seconds. The Chevy Cobalt SS Sedan should be on sale some time later this year, and will have a price tag of about $23,000.

Source - Engadget

Pontiac Solstice GXP Coupe will produce 300 horsepower

It seems that the Pontiac Solstice GXP Coupe will be aiming their sites at cars such as the 2010 Nissan 370Z as the new car will be able to produce 300 horsepower plus. This is thanks to the use of a direct-injected Ecotec four-cylinder engine from General Motors, which has a turbo mounted on as well.

This engine will might also be used in the Solstice GXP and Saturn Sky Redline convertibles. However I have to stress that it is just a rumor at this stage, but what a nice prospect ah. Please do not get exited just yet, remember not so long ago when it was rumored that the Pontiac Solstice was to get a all-wheel-drive or a V6 version and GM told us that they have no plans to do this.

Source - eGM Cartech via Auto Blog