GM Inside News Forum - Automotive Industry News http://www.gminsidenews.com/forums All industry news here and any news that is about GM the company. en Fri, 20 Nov 2009 21:02:24 GMT vBulletin 60 http://www.gminsidenews.com/forums/v2/misc/rss.jpg GM Inside News Forum - Automotive Industry News http://www.gminsidenews.com/forums GM aims for more leasing http://www.gminsidenews.com/forums/f12/gm-aims-more-leasing-86331/ Fri, 20 Nov 2009 16:41:50 GMT ---Quote--- *GM aims for more leasing* General Motors Co. said leases account for 2% of its U.S. vehicle sales. GM aims to sell 7% to 10% of its vehicles through lease deals, compared with an industry average of 13%, said Susan Docherty, the vice president overseeing U.S. sales. ---End Quote--- Full text here: http://www.freep.com/article/20091120/BUSINESS07/911200311/1322/Headlines-GM-aims-for-more-leasing
Quote:
GM aims for more leasing

General Motors Co. said leases account for 2% of its U.S. vehicle sales.

GM aims to sell 7% to 10% of its vehicles through lease deals, compared with an industry average of 13%, said Susan Docherty, the vice president overseeing U.S. sales.
Full text here: http://www.freep.com/article/2009112...r-more-leasing ]]> Automotive Industry News Hurricane http://www.gminsidenews.com/forums/f12/gm-aims-more-leasing-86331/ U.S. Nov auto sales could top 11 million annual rate: GM http://www.gminsidenews.com/forums/f12/u-s-nov-auto-sales-could-top-11-million-annual-rate-gm-86325/ Fri, 20 Nov 2009 15:34:06 GMT
Quote:
U.S. Nov auto sales could top 11 million annual rate: GM
Thu Nov 19, 2009 6:01pm EST

DETROIT (Reuters) - U.S. auto industry sales could exceed an 11 million vehicle annualized rate in November with signs the economy has continued to strengthen, General Motors Co's GM.UL U.S. sales analyst said on Thursday.

GM also is "cautiously optimistic" that the automaker will see a U.S. market share gain for a fourth consecutive month since it emerged from bankruptcy in July, sales analyst Mike DiGiovanni said in a conference call with reporters.

"We believe the November (seasonally adjusted annualized rate of sales) could approach or maybe slightly exceed 11 million units," DiGiovanni said of the annualized rate closely watched by economists.

GM's forecast included medium and heavy trucks, which can add up to 300,000 to the annualized rate, but was still sharply higher than November light vehicle forecasts Edmunds.com and J.D. Power & Associates released on Thursday.

J.D. Power said it expected U.S. auto industry light vehicle sales at a 10.2 million unit annualized rate in November, while Edmunds expected a 10.34 million unit rate.

DiGiovanni said GM was encouraged by data showing some strengthening in the U.S. economy, while acknowledging rising unemployment and a decline in single family housing starts in October.

"Obviously this isn't a perfectly linear trend. There are some setbacks in some areas," DiGiovanni said. "Overall, we feel pretty confident that the economy is on its way back."

A seasonally adjusted annualized sales rate, or SAAR, at or above 11 million would be the strongest for the industry since September 2008, outside the government "cash for clunkers" program that boosted sales in July and August this year.

U.S. sales chief Susan Docherty said GM expects U.S. retail sales for its Chevrolet, Buick, GMC and Cadillac brands to be up 10 percent to 15 percent in November from a year earlier.
Full text here: http://www.reuters.com/article/GCA-A...5AI5P920091119 ]]> Automotive Industry News Hurricane http://www.gminsidenews.com/forums/f12/u-s-nov-auto-sales-could-top-11-million-annual-rate-gm-86325/ Change afoot as GM builds buzz for auto shows http://www.gminsidenews.com/forums/f12/change-afoot-gm-builds-buzz-auto-shows-86324/ Fri, 20 Nov 2009 15:31:37 GMT
Quote:
Change afoot as GM builds buzz for auto shows

BY TOM WALSH
FREE PRESS COLUMNIST

For General Motors, it's no exaggeration to say that upcoming auto shows in Los Angeles next month, and at Detroit's Cobo Center in January, are the most important in GM's 101-year history.

Fresh from a federal rescue and Chapter 11 bankruptcy, GM is a much smaller outfit with only four brands instead of eight.

So how will the new GM strut its stuff on the first high-glitz runways of the 2010 model year?

The biggest change, shared with the Free Press in two GM auto show strategy meetings, is to take the brands and new products directly and aggressively to consumers, instead of just to the news media for traditional unveilings.

That's why the next wave of new GM models is popping up all over on the streets and in the trendy hangouts of Los Angeles this month, sometimes with stars like Jay Leno or singer Colbie Caillat behind the wheel.

Building buzz is the plan.

"We're grateful for the second chance," Tom Pyden, a GM manager, said at an October strategy meeting. "We want people saying, 'Oh, no, who woke these guys up?' "

In L.A., that means having Leno take a spin in a preproduction electric-drive Chevrolet Volt next Friday. A Chevy engineer then is to take the Volt to Bob's Big Boy in Burbank, a famous hangout for cool cars, and later to Century City Mall for display during the Thanksgiving shopping weekend.
Full text here: http://www.freep.com/article/2009112...auto-show-buzz ]]> Automotive Industry News Hurricane http://www.gminsidenews.com/forums/f12/change-afoot-gm-builds-buzz-auto-shows-86324/ GM Customers Return 193 Cars and Trucks Under 60-Day Satisfaction Guarantee http://www.gminsidenews.com/forums/f12/gm-customers-return-193-cars-trucks-under-60-day-satisfaction-guarantee-86301/ Thu, 19 Nov 2009 21:40:05 GMT

WARREN, MICHIGAN - Mark Reuss, General Motors' new global vehicle engineering vice president and his team are personally calling customers who have returned their new cars and trucks to find out why. GM's new chairman, Ed Whitacre, suggested the follow-up calls to customers who returned their vehicles under the 60-Day Satisfaction Guarantee program, to Reuss at a dinner meeting.

Reuss said Thursday that "653 out of 222,000 vehicles sold (since the program began in September) opted for the coverage" instead of cash. Under the program, buyers can choose from a 60-day money back guarantee, in which they can return their new GM car or truck for any reason. The vast majority of customers chose incentives instead, the alternative option to the guarantee.

Of those 653 who chose the money-back guarantee, 53 vehicles have been returned and 140 more are in the process for being returned, Reuss said, "and we're calling all of them."

The success rate looks even better, Reuss suggested, when you consider that no more than 20 of those 193 customers returning vehicles plan to buy a non-GM competitor in the GM model's place.

Read more: http://wot.motortrend.com/6578533/au...#ixzz0XLNfXwK8 ]]> Automotive Industry News brnwrng http://www.gminsidenews.com/forums/f12/gm-customers-return-193-cars-trucks-under-60-day-satisfaction-guarantee-86301/ <![CDATA[WSJ: GM Engineer Says Quality Remains 'Achilles' Heel']]> http://www.gminsidenews.com/forums/f12/wsj-gm-engineer-says-quality-remains-achilles-heel-86297/ Thu, 19 Nov 2009 20:21:08 GMT GM Engineer Says Quality Remains 'Achilles' Heel'
By SHARON TERLEP

DETROIT—The head of engineering at General Motors Co. said Thursday that product quality remains an "Achilles' heel" for GM amid a push by the auto maker's board to improve customer satisfaction.

Indeed, quality concerns have led GM Chairman Ed Whitacre to ask the company's engineers to quiz the nearly 200 U.S. customers who returned GM cars under a recent money-back guarantee promotion about the reasons for their dissatisfaction.

Quality has been a longstanding issue for GM and poses a potential hurdle for Mr. Whitacre's efforts to reinvent the auto maker and recapture lost market share. A recent Consumer Reports survey found that the company's vehicles were less reliable overall than rival models from Ford Motor Co., Honda Motor Co. and Toyota Motor Corp.

"That was very disappointing to me," Mark Reuss, vice president, global vehicle engineering, told reporters. "The reliability piece has been an Achilles' heel during my whole career at GM."

The admission and Mr. Whitacre's push mark a change in tone for GM, which has maintained its quality problem was mainly one of perception, and recently touted its vehicles with an advertising campaign with the slogan "May The Best Car Win."

Mr. Reuss said quality issues at GM are deep-seated and require cultural change. GM has had more success improving safety and performance of its vehicles, but he said reliability remains a sticking point. He said some company engineers have at times been afraid to report problem for fear their jobs would be threatened, resulting in glitches showing up when cars hit the market.

Mr. Reuss said he plans to meet with GM engineers Friday to help change that thinking. "We've told people to stop worrying about their jobs and start worrying about the products," he said.

The executive said that Mr. Whitacre requested, at a recent meeting, that GM find out why some customers had returned GM vehicles. A total 193 customers returned GM cars in the U.S. under the money-back promotion "I don't know how many people we have to call and ask why they didn't like our vehicle, but it's something we haven't done [before] and should [have]," Mr. Reuss said.

for more go HERE ]]> Automotive Industry News Simon says http://www.gminsidenews.com/forums/f12/wsj-gm-engineer-says-quality-remains-achilles-heel-86297/ GM MY09 Sales Event: 0% 72 Months For All Vehicles Except Hummer/Saab http://www.gminsidenews.com/forums/f12/gm-my09-sales-event-0-72-months-all-vehicles-except-hummer-saab-86290/ Thu, 19 Nov 2009 18:25:29 GMT Source: General Motors

FOLLOWING INFORMATION COVERS 2009 VEHICLES ONLY:

Note: The 0% below represent 36/48/60/72 month payment periods, if qualified.

Use this link to search for MY09 vehicles based on your local zip code:
http://www.gmbuypower.com/byo/build....rType=GMSUPPLR

Buick
Buick Enclave 0% 0% 0% 0% Or $2500
Buick LaCrosse 0% 0% 0% 0% Or $4000
Buick Lucerne 0% 0% 0% 0% Or $4500
Cadillac
Cadillac CTS (excluding CTS-V) 0% 0% 0% 0% Or $3000
Cadillac CTS-V 0% 0% 0% 0% Or $5000
Cadillac DTS (excluding Short Wheelbase Extension) 0% 0% 0% 0% Or $5000
Cadillac Escalade ESV (excluding Hybrid) 0% 0% 0% 0% Or $6000
Cadillac Escalade EXT (excluding Hybrid) 0% 0% 0% 0% Or $6000
Cadillac Escalade SUV (excluding Hybrid) 0% 0% 0% 0% Or $6000
Cadillac SRX 0% 0% 0% 0% Or $4000
Cadillac STS (excluding STS-V) 0% 0% 0% 0% Or $5000
Cadillac STS-V 0% 0% 0% 0% Or $5000
Cadillac XLR (excluding XLR-V) 0% 0% 0% 0% Or $10000
Cadillac XLR-V 0% 0% 0% 0% Or $10000
Chevrolet
Chevrolet Avalanche 0% 0% 0% 0% Or $4000
Chevrolet Aveo 5 Door 0% 0% 0% 0% Or $1500
Chevrolet Aveo Sedan 0% 0% 0% 0% Or $1500
Chevrolet C4500 Kodiak 0% 0% 0% 0% Or $2000
Chevrolet Cobalt Coupe 0% 0% 0% 0% Or $1500
Chevrolet Cobalt Sedan 0% 0% 0% 0% Or $1500
Chevrolet Colorado Crew Cab 0% 0% 0% 0% Or $2500
Chevrolet Colorado Extended Cab 0% 0% 0% 0% Or $2500
Chevrolet Colorado Regular Cab 0% 0% 0% 0% Or $1500
Chevrolet Corvette Convertible 0% 0% 0% 0% Or $4000
Chevrolet Corvette Coupe 0% 0% 0% 0% Or $4000
Chevrolet Corvette Z06 0% 0% 0% 0% Or $4000
Chevrolet Equinox 0% 0% 0% 0% Or $2500
Chevrolet Express Cargo 0% 0% 0% 0% Or $2500
Chevrolet Express Cutaway 0% 0% 0% 0% Or $2000
Chevrolet Express Passenger 0% 0% 0% 0% Or $2000
Chevrolet HHR 0% 0% 0% 0% Or $2000
Chevrolet HHR Panel 0% 0% 0% 0% Or $2000
Chevrolet Impala 0% 0% 0% 0% Or $2500
Chevrolet Malibu (excluding Hybrid) 0% 0% 0% 0% Or $2000
Chevrolet Malibu Hybrid 0% 0% 0% 0% Or $1500
Chevrolet Silverado 1500 Crew Cab 0% 0% 0% 0% Or $4000
Chevrolet Silverado 1500 Extended Cab 0% 0% 0% 0% Or $4000
Chevrolet Silverado 1500 Regular Cab 0% 0% 0% 0% Or $2500
Chevrolet Silverado 2500HD Crew/Ext Cab 0% 0% 0% 0% Or $3500
Chevrolet Silverado 2500HD Regular Cab 0% 0% 0% 0% Or $4500
Chevrolet Silverado 3500HD Crew/Ext Cab 0% 0% 0% 0% Or $3500
Chevrolet Silverado 3500HD Regular Cab 0% 0% 0% 0% Or $4500
Chevrolet Suburban 0% 0% 0% 0% Or $4000
Chevrolet Tahoe 0% 0% 0% 0% Or $4000
Chevrolet TrailBlazer 0% 0% 0% 0% Or $3500
Chevrolet Traverse LS/LT 0% 0% 0% 0% Or $2500
Chevrolet Traverse LTZ 0% 0% 0% 0% Or $3500
GMC
GMC Acadia 0% 0% 0% 0% Or $2500
GMC C4500 TopKick 0% 0% 0% 0% Or $2000
GMC Canyon Crew Cab 0% 0% 0% 0% Or $2500
GMC Canyon Extended Cab 0% 0% 0% 0% Or $2500
GMC Canyon Regular Cab 0% 0% 0% 0% Or $1500
GMC Envoy 0% 0% 0% 0% Or $3500
GMC Savana Cargo 0% 0% 0% 0% Or $2500
GMC Savana Cutaway 0% 0% 0% 0% Or $2000
GMC Savana Passenger 0% 0% 0% 0% Or $2000
GMC Sierra 1500 Crew Cab 0% 0% 0% 0% Or $4000
GMC Sierra 1500 Extended Cab 0% 0% 0% 0% Or $4000
GMC Sierra 1500 Regular Cab 0% 0% 0% 0% Or $2500
GMC Sierra 2500HD Crew/Ext Cab 0% 0% 0% 0% Or $3500
GMC Sierra 2500HD Regular Cab 0% 0% 0% 0% Or $4500
GMC Sierra 3500HD Crew/Ext Cab 0% 0% 0% 0% Or $3500
GMC Sierra 3500HD Regular Cab 0% 0% 0% 0% Or $4500
GMC Yukon 0% 0% 0% 0% Or $4000
GMC Yukon XL 0% 0% 0% 0% Or $4000
HUMMER
HUMMER H2 SUT 6.9% 6.9% 6.9% - Or $5000
HUMMER H2 SUV 6.9% 6.9% 6.9% - Or $5000
HUMMER H3 SUV 0% 0% 0% - Or $6000
HUMMER H3T 0% 0% 0% - Or $3500
Pontiac
Pontiac G3 0% 0% 0% 0% Or $3000
Pontiac G5 0% 0% 0% 0% Or $3000
Pontiac G6 0% 0% 0% 0% Or $4000
Pontiac G8 GT 0% 0% 0% 0% Or $4000
Pontiac G8 GXP 0% 0% 0% 0% Or $4000
Pontiac G8 Sedan 0% 0% 0% 0% Or $4000
Pontiac Solstice 0% 0% 0% 0% Or $3000
Pontiac Torrent 0% 0% 0% 0% Or $3000
Pontiac Vibe 0% 0% 0% 0% Or $3000
Saab
Saab 9-3 2.0T Convertible 6.9% 6.9% 6.9% - Or $6000
Saab 9-3 2.0T Sport Combi 6.9% 6.9% 6.9% - Or $5000
Saab 9-3 2.0T Sport Sedan 6.9% 6.9% 6.9% - Or $5000
Saab 9-3 Aero 6.9% 6.9% 6.9% - Or $6000
Saab 9-5 6.9% 6.9% 6.9% - Or $7000
Saab 9-7X SUV 6.9% 6.9% 6.9% - Or $8000
Saturn
Saturn AURA (excluding Hybrid) (3) 0% 0% 0% 0% Or $4000
Saturn AURA Hybrid (3) 0% 0% 0% 0% Or $4000
Saturn OUTLOOK (3) 0% 0% 0% 0% Or $4000
Saturn SKY (3) 0% 0% 0% 0% Or $4000
Saturn VUE (excluding Hybrid) (3) 0% 0% 0% 0% Or $4000
Saturn VUE Hybrid (3) 0% 0% 0% 0% Or $4000


For 0.0% APR, monthly payment for every $1000 you finance is $27.78 for 36 months; $20.83 for 48 months; $16.67 for 60 months; $13.89 for 72 months. For 1.9% APR, monthly payment for every $1000 you finance is $28.60 for 36 months; $21.65 for 48 months; $17.48 for 60 months. For 2.9% APR, monthly payment for every $1000 you finance is $29.04 for 36 months; $22.09 for 48 months; $17.92 for 60 months. For 3.9% APR, monthly payment for every $1000 you finance is $29.48 for 36 months. For 4.9% APR, monthly payment for every $1000 you finance is $29.93 for 36 months; $22.98 for 48 months; $18.83 for 60 months. For 6.9% APR, monthly payment for every $1000 you finance is $30.83 for 36 months; $23.90 for 48 months; $19.75 for 60 months; $17.00 for 72 months. Example down payment is 12%. Length of contract limited. See dealer for details. ]]> Automotive Industry News Perian http://www.gminsidenews.com/forums/f12/gm-my09-sales-event-0-72-months-all-vehicles-except-hummer-saab-86290/ NHTSA to Add New Side-Impact Crash Test http://www.gminsidenews.com/forums/f12/nhtsa-add-new-side-impact-crash-test-86255/ Wed, 18 Nov 2009 20:16:50 GMT

Pole Dance: NHTSA to add new side-impact crash test?
by Dan Roth

Not satisfied with cars that manage crash forces well enough to avoid spilling your drink, and engines that run so clean they'll barely asphyxiate ants, a new crash test is reportedly coming in the works from the National Highway Traffic Safety Administration. Along with the test will come new dummies and new testing equipment, all of which means it's likely to have a big impact on future car designs. The side-impact pole test will simulate side collisions with objects like trees or telephone poles, a type of accident that current side-impact tests don't accurately simulate.

According to The New York Times, the new test will use a 10-inch round pole that will collide with the car at speeds of up to 20 mph. A 75-degree angle will be used, and the point of impact will be just aft of the A-pillar. Naturally, automakers won't have to pass the test all at once, the standard will be phased in. For 2011, 20 percent of an automaker's fleet will have to meet the standard and by 2014, the pole crash standard will be at 100 percent – all new cars will have to comply.

It's a change that could potentially change the face of auto design, the same way pedestrian impact standards in Europe have led to some peculiar front sheetmetal. Materials changes may also be employed to meet the regulation, with additional high-strength steel being substituted. The more conventional metals currently used are easier to form, while stronger metals require all sorts of hot pressing and tempering to be put into shape. Manufacturing cost will go up, which means prices will probably also increase, or profit will decrease while prices hold steady. Safe cars are a laudable goal, but how safe is safe enough?

http://www.autoblog.com/2009/11/18/p...-test-w-video/ ]]> Automotive Industry News TuffG929 http://www.gminsidenews.com/forums/f12/nhtsa-add-new-side-impact-crash-test-86255/ General Motors Sell-Off Could be Hastened by U.S. Government http://www.gminsidenews.com/forums/f12/general-motors-sell-off-could-hastened-u-s-government-86250/ Wed, 18 Nov 2009 18:58:05 GMT In an effort to reduce its 61% majority stake in General Motors, the Obama administration could put the automaker's initial public stock offering on a fast track. Ron Bloom, head of the U.S. government auto task force told Reuters that the IPO could come as soon as the fourth quarter of 2010 should certain goals be met.

"Private markets would like to see us exit this investment, and I think they will be more comfortable if we're on a sustained path out the door than if they think we're going to try to market time it to maximize return," Bloom said.

GM is currently reworking its accounting sheets, having emerged from bankruptcy in July, to provide a "fresh start" accounting of its assets and liabilities. GM is slated to finish the paperwork around March 2010, after which an IPO can begin to be considered. According to Reuters, GM CEO Fritz Henderson has said that an IPO would start to be a possibility from the second half of 2010.

Bloom said that timing the IPO depends on both GM's viability and market strength.

"I would anticipate that if the fresh start (accounting) is complete, if you put numbers on the board, if things are going well,and the capital markets are open, that in some point in the fourth quarter the markets will be open enough to do a successful IPO," Bloom said.

Still, echoing earlier comments by GM chairman Ed Whitacre, Bloom mentioned that GM's primary goal is to pay off the $30 billion it owes the government in bailout loans.

"Ed said that he thought the company ought to be focused on making money and paying us back and not particularly on the IPO. The IPO is a consequence, not a cause," Bloom said.

Whitacre made the news recently with his disagreement to the U.S. Treasury's limit on executive pay at GM as a condition of the bailout.

GM was our Domestic Winner in sales last month, snagging the top spot from Ford by selling 162,514 vehicles in the month of October and posting a 4.1% sales gain over the same month in 2008 - its first year-over-year gain in 21 months. The automaker is set to debut the U.S.-spec Chevrolet Cruze at the Los Angeles Auto Show next month.

Read more: http://wot.motortrend.com/6577936/in...#ixzz0XEsP8IPC ]]> Automotive Industry News brnwrng http://www.gminsidenews.com/forums/f12/general-motors-sell-off-could-hastened-u-s-government-86250/ <![CDATA[Ford Fusion Tops Camaro & Lacrosse To Take 2010 Motor Trend Car Of The Year Award]]> http://www.gminsidenews.com/forums/f12/ford-fusion-tops-camaro-lacrosse-take-2010-motor-trend-car-year-award-86220/ Tue, 17 Nov 2009 19:41:43 GMT Link: http://www.motortrend.com/oftheyear/...ion/index.html

Automotive News - November 17, 2009 - 2:51 pm ET

DETROIT (Reuters) -- Ford Motor Co.'s Fusion mid-size sedan today was named Motor Trend magazine's 2010 "car of the year," adding to the perception that changes to the No. 2 U.S. automaker's vehicle lineup are gaining traction.

The Fusion was chosen best of 23 new or significantly upgraded vehicles that were eligible for the award after a week of testing, Motor Trend said.

The magazine said the full range of Fusion models was impressive to the judges, from the four-cylinder entry level vehicles to the all-wheel drive sport and hybrid versions.

The Fusion, which has become one of the top 10 selling vehicles in the United States and was redesigned for 2010, exceeded its previous annual sales peak earlier in November. The car was launched initially by Ford in 2006.

2010 FORD FUSION IS MOTOR TREND CAR OF THE YEAR

In 1964, Motor Trend's Car of the Year award went to the entire Ford lineup, recognizing its combination of design, engineering excellence, and performance. In 1970, we gave the nod to the Ford Torino, which could be ordered in a wide variety of configurations. Forty years ago, buyers could choose from economical, six-cylinder-powered sedans to the dragstrip-ready 429 Super Cobra Jet fastback. These legendary winners had one thing in common: bandwidth. In the 1960s and '70s, this term wasn't yet part of popular lexicon. Today, the 2010 Ford Fusion's impressive bandwidth as a model range was one of the many factors that helped it earn the 2010 Motor Trend Car of the Year award.

Want an economical midsize sedan that doesn't cost much, yet won't bore you to tears? Need to please your greener side with a high-tech hybrid? Fancy a near-sport sedan with AWD, 18-inch rolling stock, and the latest infotainment and electronics? Depending on which model you choose and how many option boxes you tick, the Fusion can be any of the above. Arthur St. Antoine calls the Fusion "a compelling sweep across one of the market's most hotly contested segments."

The original Ford Fusion came to market for the 2006 model year. The basics were there, but the car wasn't fully baked. For 2010, Ford's product teams gave the lineup a soup-to-nuts redevelopment so thorough, it's as if the first-generation car never existed. Only the passenger-shell sheetmetal and other basic architectural elements escaped being redesigned, upgraded, or replaced. Although a four-door sedan is the only body style offered, powertrain choices expand from two to four, and each is new or substantially revised. There are several trim levels offered as well: base S, upmarket SE, luxurious SEL, a separate Sport model, and a Hybrid. Early in this year's COTY program, there were quiet whispers, while heads nodded, about how the Fusion looked, felt, and drove like an entirely new machine.

Just five American cars were eligible this year, but all were heavy-hitters. The Camaro was Chevy's long-awaited take on an iconic and uniquely American automotive genre and proved the affordable performance-car fire still flickers inside GM, even during its darkest hours. And to show that even on its knees Motown can't resist a good old-fashioned fight, Ford countered with a 2010 Mustang that in some versions was simply stunning.

Finalist: BUICK LACROSSE
Soon, Perhaps, Lexus Will Build A Rival This Good

WE LIKE: Exterior and interior, fluid ride, luxury-per-dollar ratio.
WE DON'T LIKE: Needs more handling prowess to run with Euro elites.

While the world's attention was focused on GM black eyes like private-jet flame-outs and bankruptcy paperwork, Buick has quietly released a midsize sedan that steals all the spotlights in the theater.

With its new-for-2010, Epsilon II-platform LaCrosse CXS, Buick has clearly targeted the Lexus ES 350. The Buick is slightly longer, taller, and heavier than its rival, but the two are close in size and closer in specification. Both are front-drive, flaunt comfort-filled cabins, and use similarly sized V-6 engines coupled to six-speed automatics (the LaCrosse also offers a smaller, 3.0-liter six).

Where the Camry-based Lexus is innocuous, the Buick is bold, even stunning. Inside, the Buick pushes harder, too, even taking risks-such as blue accents that glow like the interior of a dance club. Yes, we said "dance club" and "Buick" in one sentence.

The LaCrosse also boasts a nearly five-inch advantage in rear-seat legroom compared with the ES 350. "Back seat is nearly as comfortable as a BMW 7 Series," writes Todd Lassa.

2010 Buick Lacrosse CXS Front Three Quarters View Passenger
Click to view Gallery
The Buick's top 3.6-liter is a direct-injection unit that delivers more horsepower than the ES 350 (280 versus 272) and the same 27-mpg highway rating. We recorded a run to 60 mph in 6.4 seconds.

"Best-handling Buick ever," opines Lassa. "Quiet and smooth on choppy roads." Agrees Ron Kiino: "Very quiet, relaxed cruiser with ample power and posh cabin." (Later in the model year, Buick also will offer the LaCrosse with all-wheel drive, an advantage unmatched by the ES 350).

It's on value that the LaCrosse truly pulls ahead. Base price for the top CXS edition is just $33,765, which includes leather seats (heated and ventilated up front), dual-zone climate, a 384-watt harman/kardon audio, Bluetooth, and more.

Stealthy arrival, maybe. But the LaCrosse is too impressive not to notice.

Finalist: CHEVROLET CAMARO
Reengaging the Ponycar War

WE LIKE: RS is a real sweetheart, being easy to drive and drive fast.
WE DON'T LIKE: SS somehow represents less fun for your driving exertion; small windows; cheap interior.

Here's one Bow Tie that's almost unbearably burdened with history -- the all-new Camaro. It's bad enough having the spotlight on you as the resurrection of just one particularly fondly remembered icono-car. But in the case of this new Camaro, there were endless original styling iterations, powertrain combinations, even hood stripings -- as well as millions of memories to distill. That's an awful lot of nostalgia for one reincarnation to handle.

Fortunately, Chevy has done its history proud. With three basic variations (LS, LT, and SS), a trio of engines (an impressive 304-horsepower, 3.6-liter V-6; the 400-horse, 6.2-liter L99 V-8 that's matched to a six-speed automatic; and the 426-horse LS3 version coupled to a six-speed manual), plus a wondrous parts bin of wheels, tires and axle ratios to deliciously pick through, it's hard to go wrong. And the new Camaro puts all this superlative hardware to good use.

However, of the two Camaros we had at our service-a V-6/automatic-trannied RS (a performance option atop the LT package) and a quaking, snorting V-8 SS version with a manual-we...preferred the smaller-engined car. Hold the e-mails, folks: The RS really was the sweetheart of the two: nimble, balanced, swift, and with a delightful note from its V-6 too. While the SS's muscle-beach swagger is fun, as St Antoine notes: "I far prefer the lighter-feeling and more responsive V-6. It's the real Camaro story: 304-horse, direct-injected V-6, six-speed auto, and show-car looks for about $25K."

But as delightful as the RS is, it's also plagued by off-putting weaknesses: The windows are mere gun-slots while the interior's materials are barely adequate. Still. Take a look at that thing. Ouch, is it ever beautiful. Perhaps in its mid-cycle update, Chevy will iron out the wrinkles that prevented it from being Car of the Year. ]]> Automotive Industry News Perian http://www.gminsidenews.com/forums/f12/ford-fusion-tops-camaro-lacrosse-take-2010-motor-trend-car-year-award-86220/ GM Begins Holiday Sales Event for all Brands: Red Tag Sale is Back http://www.gminsidenews.com/forums/f12/gm-begins-holiday-sales-event-all-brands-red-tag-sale-back-86201/ Tue, 17 Nov 2009 02:04:43 GMT

Quote:
Originally Posted by Autoblog
The holidays are coming and everything must go! So says GM's VP of sales Susan Docherty. "All of our efforts will be to sell down our remaining 2009 inventory." Docherty is expecting all the 2009 cars to be cleared out by January, 2010. The big sales, starting this week, each get their own names. Chevy is having a "Red Tag Sale," Buick-GMC are going with "Holiday Event" and tip of the top Caddy is using, "Seasons Best."

As it happens, that's right about the time that Pontiac and Saturn are set to wander off into the sunset -- for good. As of right now, there's only about 10,000 Pontiacs and 8,000 Saturns left on dealer lots. "We're actually winding down those products quicker than we had anticipated," said Docherty. Curiously, there's no mention of what GM will be calling the Pontiac and Saturn sales, though "Get 'Em While They're On Fire!" has a certain ring to it.
LINK ]]> Automotive Industry News TuffG929 http://www.gminsidenews.com/forums/f12/gm-begins-holiday-sales-event-all-brands-red-tag-sale-back-86201/ GMAC CEO Resigns http://www.gminsidenews.com/forums/f12/gmac-ceo-resigns-86192/ Mon, 16 Nov 2009 22:46:58 GMT De Molina resigns as GMAC chief, is replaced by Carpenter

Donna Harris
Automotive News
November 16, 2009 - 4:35 pm ET

Alvaro de Molina resigned today as CEO of GMAC Financial Services after less than two years on the job, as the GMAC board asked the U.S. Treasury Department to delay a third round of financial assistance for the lender.

GMAC directors replaced de Molina, 52, with Michael Carpenter, a board member with an extensive background as a finance executive. Carpenter's mission is “accelerating the strategic and operational changes necessary to focus GMAC on its core auto finance and related businesses,” the company in a statement.

Carpenter, 62, has been a GMAC board member since May. He has been a CEO of Citigroup's Global Corporate and Investment Bank, Salomon Smith Barney, Travelers Life & Annuity and Kidder Peabody. Carpenter also has held senior positions at GE Capital, General Electric and Boston Consulting Group.

“A renewed GMAC is crucial to business and public sector efforts to bolster the U.S. auto industry,” Carpenter said in a statement.

Meanwhile, in its request to Treasury, the board asked the government to delay any decisions on additional assistance “until Carpenter and the management of GMAC have assessed the current situation.”

GMAC has received $12.5 billion in federal aid and may need up to $5.6 billion more to ensure its stability during a prolonged recession, according to the government.

De Molina led the push to convert GMAC into a bank holding company, reasoning GMAC could raise funds through deposits and have access to federal aid programs.

"I came to GMAC thinking that it was a short-term assignment working through a liquidity crisis," de Molina said in the statement. "That crisis lasted two years. With the help of government support and the incredible efforts of our team, we are now on stable footing, positioned for profitability in 2010 and beyond.”

The U.S. Treasury Department is GMAC's biggest owner with a 35.4 percent stake. Other stakeholders are affiliates of Cerberus Capital Management, with a 22.0 percent share; third-party investors with 18.1 percent; a General Motors Co. trust, 14.6 percent; and GM, 9.9 percent.

The Cuba-born de Molina joined Cerberus in June 2007 after 17 years at Bank of America that included a stint as CFO. News reports have said he is a possible candidate to be CEO at that bank.

He became CEO of GMAC in April 2008 and was appointed to the GMAC board in March of this year.

Reuters contributed to this report.

PRESS RELEASE: GMAC Names Michael A. Carpenter Chief Executive Officer; Will Lead Next Phase Of Renewal

NEW YORK, Nov. 16 /PRNewswire/ -- The Board of Directors of GMAC Financial Services (GMAC) today named Michael A. Carpenter, a board member with extensive financial services experience, chief executive officer. The board has tasked Carpenter with accelerating the strategic and operational changes necessary to focus GMAC on its core auto finance and related businesses.

Franklin W. Hobbs, GMAC chairman, said, "Mike Carpenter is a world-class CEO, and the board has great confidence that he is the right leader for GMAC at this pivotal moment. GMAC will benefit from Mike's broad and deep experience in banking, capital markets, turnarounds and corporate strategy. In addition, as a GMAC board member, he has first-hand knowledge of GMAC and the challenges and opportunities the company faces in its drive to return to sustained profitability and to repay taxpayers."

Carpenter succeeds Alvaro de Molina, who has resigned as CEO and a director. Carpenter, 62, has served on the GMAC board since May 2009. His previous experience includes CEO positions at Citigroup's Global Corporate & Investment Bank, Salomon Smith Barney, Travelers Life & Annuity and Kidder Peabody. During his distinguished 35-year career, Carpenter has also held senior positions at GE Capital, General Electric and Boston Consulting Group.

"I am honored by the opportunity to lead GMAC at this critical juncture," Carpenter said, pledging to work with a sense of urgency to make GMAC the premier provider of auto finance and related services for both dealers and consumers across the country.

Carpenter noted that the challenges facing GMAC are substantial, but he expressed confidence that the company and its leadership have the resolve, talent and vision to restore its fiscal health and build on its unique franchise.

"A renewed GMAC is crucial to business and public sector efforts to bolster the U.S. auto industry, and we have a special obligation to the public to do everything we can to ensure GMAC succeeds," Carpenter said. His mission, he noted, includes operating GMAC "at the rigorous standards required of a bank holding company, resolving the difficult issues we face with the mortgage business, and repaying in full the funds the U.S. government has invested in GMAC."

The board of GMAC has requested that the U.S. Department of the Treasury postpone its decision on the planned follow-on investment of Troubled Asset Relief Program funds in GMAC until Carpenter and the management of GMAC have assessed the current situation and can advise the board and Treasury regarding the appropriate amount and form of such funding.

Carpenter has resigned from the board of CIT Group in order to devote his full attention to his new role at GMAC.

In appointing Carpenter to succeed de Molina, the GMAC board expressed its deep appreciation for de Molina's stewardship since April 2008, a period of unprecedented turmoil for the company and the financial services industry.

"Al helped steer GMAC through an extraordinarily challenging period. He was instrumental in the conversion of GMAC into a bank holding company, the recruitment of talented managers into GMAC, and the establishment of Ally Bank. On behalf of the entire board, I thank him for his contributions to GMAC and wish him well in his future endeavors," Hobbs said.

"I came to GMAC thinking that it was a short-term assignment working through a liquidity crisis," said de Molina. "That crisis lasted two years. With the help of government support and the incredible efforts of our team, we are now on stable footing, positioned for profitability in 2010 and beyond. It is a good time for me to move on to my next chapter. I wish the GMAC board and team great success." ]]> Automotive Industry News jfibs http://www.gminsidenews.com/forums/f12/gmac-ceo-resigns-86192/ GM Posts $1.15 Billion Loss After Leaving Bankruptcy (Update1) http://www.gminsidenews.com/forums/f12/gm-posts-1-15-billion-loss-after-leaving-bankruptcy-update1-86178/ Mon, 16 Nov 2009 13:00:16 GMT Nov. 16 (Bloomberg) -- General Motors Co., the successor to the automaker that slid into bankruptcy this year, said it lost $1.15 billion in the third quarter after its July 10 exit from a U.S.-backed restructuring.

GM, 61 percent owned by the U.S. government, said its operations generated $3.3 billion in cash and ended September with $42.6 billion on hand. Repayment of U.S. and Canadian government loans will start this quarter, GM said today.

The results give the first glimpse of Detroit-based GM’s financial performance since emerging from the remnants of the old General Motors Corp. on July 10 under the stewardship of Chairman Ed Whitacre, 68, and Chief Executive Officer Fritz Henderson, 50.

“After everything that’s happened, they’re really just providing general, overall guidance,” said Erich Merkle, president of consultant Autoconomy.com in Grand Rapids, Michigan. “To a certain extent, GM is trying to position themselves with the government and the consumer.”

The results were unaudited, according to GM, which reported data for July 1 through July 9, for the pre-bankruptcy GM, and for the period since July 10. Revenue was $28 billion for the full three months, GM said.

Pre-Bankruptcy Results

The pre-bankruptcy General Motors Corp. lost $2.54 billion a year earlier, its best three-month period of 2008. The numbers don’t compare directly with the most recent quarter because of the bankruptcy and the emergence of the new company.

GM projected a fourth-quarter cash drain of about $8.3 billion to cover costs including government loan repayments and $2.8 billion for the settlement of the bankruptcy of former parts unit Delphi Automotive LLP.

“Global cash balances at the end of 2009 are expected to be materially lower than third-quarter levels,” GM said.

Debt totaled $17 billion at the end of the quarter, including $6.7 billion in U.S. government loans and $2.7 billion owed to the Canadian and German governments, and $7.6 billion more in other debt. The amount doesn’t include $12.2 billion in notes or preferred stock that will be owed to union retiree health care funds in the U.S. and Canada, GM said.

The automaker had $94.7 billion in debt as of July 9, before emerging from bankruptcy.

Borrowing from the U.S., Canadian and Ontario governments will be repaid in quarterly installments from escrowed funds, beginning next month with an initial $1.2 billion payment, GM said. GM filed for bankruptcy on June 1.

After getting an emergency loan from Germany to prop up the Opel unit in Europe, GM decided this month to keep the division, and the automaker is repaying those funds as well.

http://www.bloomberg.com/apps/news?p...EKJreP2g&pos=1 ]]> Automotive Industry News davidlane http://www.gminsidenews.com/forums/f12/gm-posts-1-15-billion-loss-after-leaving-bankruptcy-update1-86178/ GM to start repaying debt to U.S. government next month http://www.gminsidenews.com/forums/f12/gm-start-repaying-debt-u-s-government-next-month-86173/ Mon, 16 Nov 2009 04:39:14 GMT Firm plans to retire $6.7 billion loan years before it is due

By Peter Whoriskey
Washington Post Staff Writer
Monday, November 16, 2009

www.washingtonpost.com

General Motors is expected to announce on Monday that it will begin repaying its debt to the United States next month, years earlier than required.

The nation's largest automaker plans to pay $1 billion per quarter until the $6.7 billion loan is repaid, according to a source familiar with the matter.

The plan does not cover all of the $50 billion the United States has invested in the company.

How much the government will receive on its investment depends on GM's eventual stock value. In exchange for the $50 billion, the United States holds the $6.7 billion debt, $2.1 billion in preferred stock and a 61 percent stake in the company.

But the announcement of the repayment plan indicates that GM has exceeded financial planners' projections.

"This is a result of the company performing modestly above expectations," said the source, who spoke on the condition of anonymity to discuss the situation. "Obviously, the company has a long way to go and a lot of important things to execute on."

The $6.7 billion debt is not due to be repaid until July 2015, but the company has exceeded projections, partly by going through bankruptcy more rapidly than it thought it would, and partly by cutting costs.

The company is not expected to be showing a profit when financial results are reported Monday. But it has significantly cut operating costs and is better able to weather the downturn in auto sales that put it and Chrysler on the brink of ruin this year. ]]> Automotive Industry News Buick61 http://www.gminsidenews.com/forums/f12/gm-start-repaying-debt-u-s-government-next-month-86173/ At General Motors, Loss Reduction Is a Good Start http://www.gminsidenews.com/forums/f12/general-motors-loss-reduction-good-start-86154/ Sun, 15 Nov 2009 15:09:39 GMT The restructured automaker is expected to report a relatively modest third-quarter loss on Monday, with improvement in cash flow and pricing

By David Welch

On Monday, Nov. 16, General Motors CEO Frederick A. "Fritz" Henderson will give the company's first update since it emerged from bankruptcy in June. The news is supposed to be good—relatively speaking.

Sources close to management who have seen the preliminary financials, but who asked not to be named, say GM will show much-improved third-quarter earnings and cash flow. The company will still be in the red, according to the sources, but will have cut losses from recent quarters by billions of dollars.

More at the link: BusinessWeek: http://www.businessweek.com/bwdaily/...mpaign_id=yhoo

Mark ]]> Automotive Industry News usa1 http://www.gminsidenews.com/forums/f12/general-motors-loss-reduction-good-start-86154/ GM: Chaos at the top? http://www.gminsidenews.com/forums/f12/gm-chaos-top-86144/ Sat, 14 Nov 2009 23:19:40 GMT According to Automobilwoche (link below), there's chaos at the top. Sure, Germany isn't too fond of GM right now, but the contradictory statements form Ed Whitacre and Fritz Henderson speak for themselves.

Where Henderson stated that GM would need government aid to turn Opel around, Whitacre bluntly said that no help was needed at all.
Henderson apologized in Europe for all the uncertainty GM has caused (we will sell Opel, we won't sell Opel. We don't need Opel. We do need Opel), Whitacre said in public he didn't agree at all with that.

According to Automobilwoche (I'm trying to translate the essence of the article), Henderson will be gone soon. According to the leader of the Opel-employers organization in germany, Klaus Franz there is chaos at the top, and all the bold statements from Whitacre enhance the image of GM managers as arrogant cowboys.

Full article (free registration required):
http://www.automobilwoche.de/apps/pb...545fa12354a40d ]]> Automotive Industry News jalberda http://www.gminsidenews.com/forums/f12/gm-chaos-top-86144/