General Motors Co. to payback the US and Canadian Governments Loans.
US auto giant General Motors has officially announced the repayment of its $5.8 Billion loan by the end of June ‘10. The loan is from the U.S Treasury and Export Development Canada, both of which currently hold Equity Shares in the company.
The company that emerged from bankruptcy in July 2009 also stated that once the repayments are complete “the focus will be to upgrade the plants in Detroit and Kansas to build their Next Generation- Chevrolet Malibu.”
The news of the repayment was made on the Wall Street Journal website on Tuesday April 20th by the CEO of GM, Ed Whitacre, as he announced “Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign that our plan for building a new GM is working.”
The Detroit- Hamtramck and Kansan City factories will be updated with an investment of $ 275 million. The update will enable the plants to manufacture the Next Generation Malibu slated for release next year. On Wednesday, Mr.Whitacre addressing the Kansas City plant said that it will receive $136 million of the investment as the plant will be the prime manufacturing site for the Malibu.
As per the Automotive News Data Center, the new Chevy Malibu has a 53 day supply and Buick LaCrosse a 43 day supply, and the Kansas plant is working 3 shifts and on Saturdays to build both the cars which began production in April to maintain a 60 Day supply level as recommended by analysts.
The Buick Lucerne and Cadillac DTS sedans currently being produced at the Detroit Hamtramck plant will be downsized this year to accommodate the production of the Chevrolet Volt plug-in sedan, to be released in the fourth quarter of ’10. The Hamtramck plant investment of $121 will assist in the production of the Malibu in period of spike in demand.
GM Geely competes for limelight @ Beijing auto show
The most awaited and important event on China ‘s automotive calendar is just nearing. The Auto China 2010 will begin Friday, April 12, in Beijing . And almost all the automakers, both domestic and global, have said what they will put on display. And Of course each and everyone of the automakers is vying for its share of the limelight. This may be the toughest contest of the year for the Geely Holdings and General Motors Company. Both of these two companies will display more on their products in the show more than other automakers.
And in detail, Geely Holdings will display almost 39 models of their products and General Motors will display 28 products. They will also show more new models than most other automakers. Geely says it will put 11 all new models on stage at the event. Meanwhile General Motors has announced it will show 6 new models for the first time in front of a Chinese audience.
The General Motors vehicles are Chevy Volt MPV5 concept, the Cadillac Concept, the Cadillac XTS concept, the Chevy Aveo RS concept, the two-box Chevy New Sail and the new Chevy Spark. Last week Geely held an event in Beijing with several company executives taking turns to explain to reporters the long list of new models and power train technologies their company will display at the show. General Motors China convened reporters from across the country in Shanghai for a briefing on its middle and long term growth plans for China .
For sure, Geely Holdings didn’t start making cars until the late of 1990s. So it goes without saying that it still can’t mount serious competition for General Motors. With most of its products selling less than 70,000 yuan ($10,248), the company still confines itself to the low end of the domestic market. This will change very soon. In addition to rolling out more expensive models under its own brand, the private Chinese company wants to launch more Volvo models in China after it completes the purchase of the Swedish brand from Ford Motor Co in the third quarter.
With a brand that is now a byword for excellence in safety in its stable, Geely holdings should become a rival to reckon with for global players including General Motors.
Nissan’s leaf Electric Vehicle to be launched soon
Nissan Motor Co. will sell the Leaf electric car for a base price of $32,780 in the United States and begin taking orders on April 20. When combined with a $7,500 federal tax credit, the Leaf will be priced at $25,280, the automaker said in a statement today. State and local credits can further reduce the cost to consumers, Nissan said. Early on today, the automaker also said it would sell the battery-powered Leaf hatchback starting off at 3.76 million yen ($40,640) in Japan, where it is also counting on government subsidies to slash the cost to consumers. Nissan said it aims to sell 6,000 Leaf cars, its first mass-volume all-electric model, in Japan for the year ending in March 2011. The company will start taking orders for the model April 1 in Japan, with the first delivery expected in December. After accounting for Japanese government subsidies, Nissan said the net cost to consumers to buy a new Leaf would be near 2.99 million yen ($32,373). The Leaf pricing also represents a premium over established, combustion-engine powered small sedans, such as the Honda Civic and Toyota Corolla. Analysts have said the premium reflects the cost of developing and producing the Leaf’s lithium-ion battery pack. The cost of batteries and the reluctance of consumers to pay more upfront for fuel-saving technology are seen as the major hurdles to mass-market adoption of electric vehicles. Toyota Motor Corp.’s gasoline-electric Prius hybrid, now in its third generation, has a base model starting price at just over 2 million yen ($22,195) in Japan. After trailing rivals Toyota Motor and Honda Motor in the hybrid field, Japan’s No.3 automaker has bet heavily on pure electric vehicles along with partner Renault SA of France. Nissan has said it expects that 10 percent of the world’s auto market will be electric vehicles by 2020, a ratio at the top of industry projections. The automaker has also announced a series of partnerships with utilities and government agencies in the United States and Europe where it believes it has a chance of seizing market leadership. The five-passenger Leaf is designed to provide a range of about 100 miles. Nissan has developed the battery pack for the Leaf with NEC Corp., so that it can be recharged overnight on a 220-volt connection. While skeptics abound, almost all major automakers are working on developing battery-run cars for use mainly in urban areas, to meet stricter emissions and mileage regulations being introduced around the world.
Customers- Backbone of Bob Maguire Chevrolet
wwwbobmaguirechevrolet.com is the website specially designed for this New Jersey Chevrolet dealer. The features of this site are quite striking with spectacular pictures as main part. This was founded in 1977 and family owned prestigious automotive dealership group. This particular dealer is famous for its reputed services for many years by offering largest selection at best prices. Maguire Auto group customers are happiest buyers with best price and best services. Featured vehicles are the main attraction of this site. These featured vehicle posts gives all the information about those featured cars in all the needed aspects. There is nothing gave a miss in the feature for a person who is looking for a best pre-owned car.
Maguire Auto group offers new models as well as pre-owned to their customers to their satisfaction. Financing facilities are best way arranged to the customers here as an additional service.
Their new models include trucks, hybrids, couples, crossovers, sedans, SUVs’ and vans with reviews. An array of new upcoming models is also showcased on the website with more technical details.
In the pre-owned category one can avail online inventory through this website. GM certified used vehicles are the specialty of the pre-owned car from this website. Luxury pre-owned is widely available here and can be verified on website too besides many other models which are almost less than $10K.
Services are the important part of Maguire Auto group. Their service centre often serves their customers with best fuel solutions. The technical team here got a special team exclusively for BODY SHOP. Here Schedule services and recommended maintenances take place constantly for their customers. Customers satisfaction often seen here through their praising about what they got benefited.
GM certified vehicles are specialty at this Maguire Auto group. This certificate is offered to vehicles under GM certified program here. For this a vehicle must be belong to before 2003, with less than 60,000 miles.
Best part of this Maguire Auto group is easy access to their customers through particular number for particular division. All the staff to serve to the customers are well qualified and good professional. The organize way of operations with this company made them reputed with their customers since 1977. The well maintained business values with customers are main backbone to the successful existence.
Cruze Getting RS Appearance Package
GM will be expanding use of the RS trim pioneered by the new Camaro.
9th march 2010
Chevrolet Cruze was a huge hit at Los Angeles auto show in December by General Motors. Huge response was witnessed through volume of questions about the performance variant of Cruze. The Cobalt SS, sub-par interiors are well known for the legacy of GM compact performance which is always a coveted feature people look for. But surprisingly GM still not confirmed anything about this performance variant and kept on using RS phrase in conversations. GMI has indicated reasons about bringing RS by GM.
Here 2011 order guide for Cruze confirmed a optional RS package on the car. This option is restricted to 2LT and LTZ trim levels and tagged as “appearance package”. RS package is supposed to be having additions as unique deck-lid spoiler, Ground effects package, unique instrument panel and Fog lamps.
By knowing this it is understood that there will be no performance enhancements to the Cruze RS model. According to demonstration Camaro RS package, the RS moniker will be just appearance packages only. This car is going to be launched after fall and by that time only Cruze can be available with RS package. Also few sources clearly confirmed that GM has not took any decision with regard to the Cruze SS to succeed the Cobalt SS.
We Could All Use Some Peace and Quiet
Have you been trying to drown out the noise of the road by turning up your music or convincing yourself that it isn’t “that” loud? Well, there are ways to reduce the amount of road noise in your car.
The first thing to do is… to determine the source of the noise. Some common causes are tires that create a lot of excess noise on certain types of pavement and engine and exhaust systems that have not been repaired or have been improperly modified. We would be happy to service your vehicle and find the cause of the extra noise. If they are the true cause of the problem, then no amount of simple do-it-yourself fixes can truly and completely “cover up” the noise.
If you want to take it one step further, you can purchase insulation products that can be installed underneath the carpeting and seats of the vehicle. These products are often called, Heat, Noise and Sound Insulation and are fairly inexpensive – one roll often costs less than $30. This project can be a bit time consuming, so you may want to reserve a Saturday afternoon to handle the task.
So whether you want to purchase quieter tires, or try an option like cloth floor mats, there are plenty of possibilities for every budget. Just be sure your expectations are in check, some vehicles are naturally louder than others, either from age or design – while others might be easier to fix.
However, if you have identified that your noise is just a symptom of the general operation of the vehicle, then there are things you can do yourself. First, purchase cloth or carpeted floor mats. These will help insulate some of the noise the driver experiences. Extra layers of fabric or insulation absorb noise, so cloth seat covers can also help to absorb a bit of noise.