According to some "inside sources" General Motors and the US Treasury are expected to already have chosen a lead bank for the carmaker’s initial public offering as early as this following week. Since GM's Ed Whitacre is eagerly expecting public listing, the report claims that GM, which is majority-owned by the US government, would have to decide soon on an...
The German Government has yet to produce a final decision on the plan of helping Opel's situation and this is creating quite a bit of tension as thousands of jobs at the GM unit remain attached to an uncertainty of the future. Opel has been loosing money for quite some time and is seeking Government aid in order to compete...
Transonic Combustion is a fuel-injection systems startup company that has announced today that Bob Lutz has joined the company’s board of directors. Bob Lutz recently retired from his nine year position as vice chairman of General Motors and, according to Transonic Combustion's spokesman, will be bringing the company's leadership the experience of a career in the automotive industry that is...
The 2004 Chevrolet Corvette is undergoing investigation from the NHTSA after there have been several complaints in relation to the fuel tanks of these vehicles. The National Highway Traffic Safety Administration said that it has opened the investigation into 33,000 of these 2004 Chevrolet Corvettes over leaky fuel tank problems. The total number of registered complaints for this situation came...
General Motors have announced today that the first quarter of 2010 has been the place for another achievement on behalf of the company as they returned to profitability and registered revenue of $31.5 billion and operating income of $1.2 billion. The registered net income attributable to common stockholders was $0.9 billion which means earnings per share on a diluted basis...
More news from Detroit as General Motors has just announced better sales figures for this month when compared to last year's April disastrous sales. Mind you, while this April 2010 has better sales than April 2009 it's still 2% down on March 2010. The news are even better when the statistics are focused on the GM's four core brands because...
We all remember the horrific news that came from Detroit around a year ago but now the headlines make for pretty much opposite extras to read all about. In short, Ford has recorded $2.1 billion in profits, General Motors managed to pay off the treasury loan early despite proving profits and Chrysler have managed to reduce their financial hemorrhage. While...
Chrysler Group LLC has just announced that upon the launch of the new Charger in November 2010 they will be ready to increase their participation to the squad car market. Peter Grady, Chrysler’s head of network development and fleet said that his company will go hard out after this particular market. This announcement from Chrysler isn't really a big surprise...
President Barack Obama said that the bailouts that the government funded for the American automotive industry had paid off. The announcement made it to the public via the president's Web address last Saturday. The Web address on Saturday was joined by his weekly radio announcement as they hosted Obama's message purposed in offering confirmation in keeping political pressure up for an...
The Chevrolet Volt MPV has now gone from drawings to reality. It's not grown a bit of a longer name but other than that it's pretty much as expected. What we're talking about is that this car will be running with power from a lithium ion T-battery developed by GM and will also use a 1.4 liter engine generator. The...
According to an announcement made today by Ed Whitacre, CEO of General Motors, the company has payed back the government loans in full today. The sum sent by GM to the US Treasury and Export Development Canada comes to a total of 5.8 billion dollars. The company seems to be doing really well and has not only managed to bay...
General Motors has announced today that they will be opening a new design studio in the capital city of the Republic of Korea, Seoul. The studio will be based just out of Seoul’s Gangnam area, which is considered to be the most stylish part of Korea’s capital, quite a fitting image for a designs studio of one of the world's...
Recently a few patent drawings have been popping up all over the place and what they feature may be quite interesting. The 2010 Beijing Motor Show may see General Motors unveiling a Chevrolet Volt-based MPV next week. Since the Volt’s Voltec powertrain has been designed to fit quite a wide range of vehicles this new MPV may be hiding just that...
The headline is not made up, this is actually happening as NASA announced today that humanoid robot Robonaut 2, or R2 for short, will be heading for the International Space Station. The R2 is a joint development of NASA and GM and will soon become a permanent resident of the International Space Station destined to work along side astronauts and...
