Chevy Kodiak Discontinued Along with GMC Topkick
Goodbye Chevrolet Kodiak
After years of looking for a buyer, General Motors is scaling back its medium-duty truck line, and the company will not produce the Chevy Kodiak or the GMC Topkick anymore after next month.
General motors last month announced that it would discontinue franchise agreements with 789 dealerships, and with [...]
Saturn, Penske Automotive Group Reach Deal as GM Agrees to Sell
Penske Automotive Group steps up
General Motors will sell Saturn to Penske Automotive Group, according to news reports. The deal is tentative so far, but Roger Penske of Penske Automotive Group has agreed to buy the struggling Saturn brand from bankrupt GM.
GM dealerships across the country are offering historically cheap loans [...]
A Fond Farewell to the Merry Month of May
Hi June – what kind of month are you going to be?
May was indeed a Merry Month for me here in the Home Office. I hope everyone’s May was as abundant as mine, but from the statistics, it is clear that the recession is still dragging on for so many [...]
Sichuan Tenzhong Buys Hummer After GM Files Bankruptcy
Who bought Hummer?
Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd. plans to purchase the Hummer brand from General Motors, the mammoth U.S. auto maker that filed for bankruptcy yesterday.
Hummer is the brand attached to GM’s line of street-legal vehicles based on the HMMWV, or humvee. The abbreviation stands for High Mobility [...]
Whatever happens, that Aston Martin is mine
There are only a couple of zeros between James Bond and me
We all remember James Bond, aka 007, aka Sean Connery, the retired hit man and/or spy who now sits on a log on the back page of the paper drooling over his super-expensive Louis Vuitton sports bag. We’re a [...]
GM Dealer Closing List | Chrysler Dealerships Closing List
Thousands of auto workers lose jobs
Yesterday, one of the United States’ largest automakers released the Chrysler dealerships closing list. Today, the largest U.S. auto maker will release the GM dealer closing list.
Chrysler is shutting down 789 dealerships. Check out the Chrysler dealerships closing list. General Motors, sometime today, will release [...]
Beat the Cash Advance
Some of industries greatest giants are either crippled or toppling…
In today’s uncertain financial times, an occasional payday cash advance may help the typical family hold themselves steady until the economy gets its feet back under it, and the markets, banks, and other businesses have stopped cutting back. Since the beginning [...]
Automakers get Bailout, Consumers turn to Installment Loans
The struggling economy is affecting everyone
While automakers look to receive additional funding, consumers are looking to installment loans for aid. In the recession, everyone is suffering. Even huge automakers, despite billions in governmental bailout money, are facing liquidation and bankruptcy. The economy is taking its toll on everyone from industry [...]
Temporary GM Shutdown Could Be Imminent
Company plans for slow summer
As General Motors faces the possibility of bankruptcy, the company says there may be a nine-week GM shutdown starting as soon as next month.
The automaker might close down several plants for nine weeks. An overabundance of inventory plus typically slow summer sales are causing GM to [...]
GM Says it Might Miss $1 Billion Debt Payment
Bankruptcy ‘probable’ says finance chief
General Motors is proving to be a good example of what can happen if you take on more debt than you can handle. Unfortunately for the automaker, I don’t think any amount of debt consolidation can dig this company out of the hole.
GM has a $1 [...]
GM Recall Affects 1.5 Million Vehicles | Oil Leak Could Cause Fire
GM will replace faulty part for free
General Motors is recalling 1,497,516 cars because of an oil leak that could start an engine fire. The company says the root of the problem is the plastic spark plug retention channel.
GM dealers will replace the defective part with two new spark plug wire [...]
GM PUMA | Is General Motors Grasping At Straws?
GM partners with Segway Inc.
The United State’s biggest automaker and the creator of Segway scooters have teamed up to create the GM PUMA , a two-wheeled electric vehicle. So far the Puma is only in the prototype stage.
Perhaps this “sit-down scooter” or GM Segway, as some people are calling it, [...]
Short Term Loans Could Help the Crumbling Auto Industry
Should the government bail out the auto industry?
In the middle of talk about government loans, the question may be whether short term loans would be a better solution to the crippling effects the current economic downturn is having on the automobile industry.
The President of the United States has requested the [...]
GM Stock Tanks After Short-Term Bailout Announced
A stinging quick rinse
Susan Tompor of the Detroit Free Press writes in a recent editorial that GM will have 30 days to detangle. President Obama calls it a “quick-rinse” bankruptcy. GM stock has tumbled as a result. Investors don’t see more cash advance loans coming from the Obama administration.
Brad Coulter [...]
Ford Workers Approve New Contracts, Wage Freeze
United Auto Workers vote on changes
Unionized workers at Ford voted on changes to their contract, including cutting cost-of-living increases, reducing benefits and eliminating cash bonuses.
The company says the move will help it to stay competitive. According to the UAW, 59 percent of production workers and 58 percent of skilled-trades workers voted [...]
General Motors Teeters on the Edge of Bankrupcy
Auto giant in big trouble
General Motors released a report Thursday that said it will likely go bankrupt unless it gets more government funding and successfully restructures the company.
The company has already gotten $13.4 billion in U.S. government loans.
Stock market fluctuations
The dismal report was, of course, followed by a drop in [...]
Your Car Likes Tequila
Quervo a go-go
America and rest of the world needs to invest in alternative fuel sources to replace the rapidly dwindling petroleum resources. Considering how much damage petroleum fuels and products have done to the environment, it’s a no-brainer. Thankfully, Warren McLaren of Treehugger reports that there’s another potential biofuel under [...]
General Motors Bleeding Cash: A Blow-By-Blow
General Motors: building better cash coffins
Joe Weisenthal of The Business Insider reports that General Motors is officially America’s “national money pit.” The automaker is bleeding cash at an astonishing rate. One wonders when they’ll file for bankruptcy, particularly after posting a $9 billion loss in the fourth quarter of 2008.
That [...]
Could GM, Chrysler Have to Share to get Easy Loans?
Easy loans, tough competition
If automakers in the U.S. want more easy loans from the government, they may face some big changes. As General Motors seeks to separate itself from European brand Saab, some government officials are considering uniting GM with another company: Chrysler.
As one might imagine, the automakers are not [...]
GM’s Saab Story | Canadians Don’t Need Payday Loans for Cars
Auto industry still struggling
General Motors has begun dismantling; car prices are being driven so low in Canada that buyers probably won’t need payday loans to cover their down payments.
Cheap Cars in Canada
Auto prices in Canada fell in 2008 for the second year in a row. If a Canadian car salesman [...]
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