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.
For all of you who have been patiently waiting for the past 16 years, I would just like to say: Wooo-Hooo! For only the fourth time in history, Chevy is building a replica of the Camaro Indianapolis 500 Pace Car. All of the features found on the top-of-the-line Camaro SS can be found on the limited edition, and the limited edition will also include some of the features exclusive to the actual pace car driven by Robin Roberts this Indianapolis 500. Some more details on the car include:
- 400 hp 6.2L V-8
- Six-speed automatic transmission w/ remote start
- Full body decal rally stripes in White Pearl
- Inferno Orange heritage front grille
- 20-inch polished aluminum wheels
- 2010 Indianapolis 500 event logo decal on both doors and embroidered on driver and passenger headrests
- 2010 Indianapolis 500 event logo badges on front fenders
*I have attached some photos of the car to the bottom of this post for you to take a look at!*
Only 200 Camaro Indianapolis 500 Pace Cars will be built, so if you have been patiently waiting to get your hands on one, I would hurry! The price will come in around $41,950, and a list of dealers selling this car can be found at: Camaro Indy 500 Pace Car Dealers
Remember to watch out for the Indy 500 race on May 30th!
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.
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.
The name Camaro means pal, friend, or comrade. Thus, the word suggests the real mission of our new automobile – to be a close companion to its owner – tailored to reflect his or her individual tastes and at the same time provide exciting personal transportation. Chevrolet has chosen a name which is lithe, graceful, and in keeping with our other names beginning with ‘C’…..” “It suggests the comradeship of good friends…..as a personal car should be to its owner.
At Maguire Auto, certified nj car dealers, our mission is also the same. We strive our best to be loyal to our customers so that we may serve all of their automotive needs for many years to come.
The 2011 Chevrolet Cruze compact car promises to redefine fuel efficiency for the small car segment, and its 1.4-liter four cylinder range of engines could herald a new era of fun to drive cars for all Americans.
Leveraging Chevrolet design and engineering talent in Asia , Europe and North America , the Cruze brings to market a globally engineered and designed car with strong levels of quietness, quality and attention to detail.
The Cruze will also be one of the most fuel efficient models in its class, with a new Ecotec 1.4-liter turbocharged four-cylinder engine expected to return up to 40 mpg on the highway in some guises and a range of more than 500 miles. The different time levels, LS, LT and LTZ trims. The engine lineup will feature both naturally aspirated and turbocharged engines, including a 1.4-liter turbo and a 1.8-liter naturally aspirated mill. Six-speed automatic and manual transmissions will be available.
The turbo will be standard on LT and LTZ models, with power ratings estimated at 138 horsepower and 148 pound-feet of torque. The 1.8-liter naturally aspirated mill, meanwhile, will be rated at 136 horsepower and 123 pound-feet of torque.
Complementing the Cruze’s new powertrains is a strong body structure and chassis system designed to deliver a responsive and fun driving experience. A MacPherson strut suspension is used up front, while a Watts Z-link design is used with the rear suspension. StabiliTrak electronic stability control with rollover mitigation, as well as traction control, anti-lock brakes and 10 airbags will all come fitted as standard. Electric power steering will also be standard on all models, helping to save fuel. The North American versions of the Cruze will be built at GM’s plant in Lordstown , Ohio .
Corona, CA/Detroit, MI – (January 11, 2010) At the 2010 North American International Auto Show in Detroit, Steve Saleen is launching the first official images of the 2010 SMS 620 Camaro, the third and latest of the ultra-high performance automobiles produced by Steve Saleen’s company, SMS Supercars of Corona, CA.
The SMS 620 Camaro has a striking design that makes it stand out in the market. Chief Creative Officer of SMS, Phil Frank notes, “We have incorporated our well-known functional SMS Red Butterfly™ Dual Side Induction Hood as well as our race-proven aerodynamics in this third vehicle in our SMS Signature Series. The SMS 620 Camaro is a dramatic and iconic visual statement that very clearly bears the SMS design DNA.”
The bespoke interior includes high performance gauges and all-new Alcantara and leather SMS performance seats that feature the patented Signature Series chevron stripes. SMS offers its Tailor Made options for the exterior, interior and engine compartment; highlighted by a dozen show car quality custom SMS exterior colors.
These vehicles’ power, performance and engineering befit their design. The SMS 620 Camaro will utilize a 6.2 liter V8 engine featuring 575 hp and 600 ft-lb of torque, while the even more powerful 6.2 liter V8 of the SMS 620X Camaro, with all new internals and CNC headwork, delivers a stunning 715 hp and 700 ft-lb. Both use the (patent pending) SMS 296™ Supercharger for their incredible horsepower and torque gains. Transmission options include a 6-speed automatic or 6-speed manual on both models.
The SMS 620 Camaro accelerates from 0 to 60 in under 4.3 seconds, while the SMS 620X Camaro manages the same in closer to 4.0. In addition to engine output, handling, road holding and braking improvements, the 620X will feature options such as Magneto-Rheological Semi-Active Dampers and Torvec Isotorque Differential and 21″ rear wheels.
Over 40 vehicles expected to debut at the 2010 North American International Auto Show.
The DETROIT will glow in lights on behalf of International Auto Show. We are in few days before the 2010 North American International Auto Show (NAIAS) opens to the media on Jan 11. Workers are on the final touch on the displays inside the Cobo Center. The staffs are working 24/7 to complete to meet the deadline of the Show. The glitz and glamour is coming to America.
Some hot new cars to be revelaed at NAIAS which include the Think City Electric Vehicle, MINI Beach Comber, BMW Active Concept, a Toyota dedicated hybrid concept, the Chevrolet Orlando MPV concept, the Volvo C30 electric vehicle, the Buick Regal GS concept and a Chrysler 300 remake, among many others. Some hot new production models will be on display at NAIAS which includes include the 2011 Hyundai Sonata, the 2010 Aston Martin Rapide, the 2011 Honda CR-Z, the 2010 Suzuki Kizashi, the 2010 Cadillac CTS sport wagon, the 2010 Honda Accord Crosstour, the 2011 BMW 740i and 740Li, the 2011 Chevrolet Camaro convertible, the 2011 Cadillac CTS-V coupe and the Chevrolet Spark, among many others. It’s going to be an exciting show for all Americans and all around the world. We actually have more brands this year than last year said NAIAS Executive Director Rod Alberts. We’re up to 60 this year. A lot of small companies, emerging companies but what’s all about with the NEW alternative fuel and lithium batteries. I guess people are going to find brands like the Electric Avenue we have. We gonna hear the awards going for alternative fuel and also the EcoXperience where you can actually ride and drive the cars with no emission. So for sure, it’s going to be a full fun show.”
The focus on Electric Vehicles will be large, also solar powered vehicles, hydrogen powered vehicles that run on energies other than gasoline. There are new Electric avenue display area for feature vehicles that run on batteries.
The news is Seven new automakers will display their vehicles at Cobo Centre for the very first time. CT&T United, Commuter Cars, Saba Motors, Edison2, EV Innovations, SSI Racing and Zap will display their automobiles on the main floor of the auto show. “We’re just happy to just stage it at the show,” For the Award winners, it will be announced on Monday Jan 11 at 8a.m. during the first day of press days of NAIAS.
The EcoXperience returns for its second year in Michigan Hall, which allows attendees to go on a ride-and-drive of new electric vehicles. The NAIAS is expanding its floor space to include the MGM Grand Casino-Hotel. Luxury vehicles will be on display in a private setting known as “The Gallery.” It will be open from noon to 9 p.m. on Jan. 11 and 8 a.m. to 12 p.m. on Jan. 12. Tickets are $25 and can be purchased at naias.com. It includes a one-day entry to the NAIAS public show. AmericaJR.com is proud to be the ONLY website in the world with FREE tickets to the Auto Show. All winners will also receive two toasty combos from Quizno’s Sub.
Special thanks to Quizno’s Sub.
The North American International Auto Show opens to the media on Jan. 11 and 12. The industry preview will take place on Jan. 13 and 14. Don’t forget about the charity preview, which is scheduled for Jan. 15. You’ll have your chance to see the auto show during the public show days, which run from Jan. 16 to 24.
The fire sale initiated for Saturn and Pontiac cars for the December sales, has aroused the curiosity of many, this has been stated by two Pontiac dealers on Wednesday. General Motors has announced $7000 rebate on every Pontiac or Saturn Manufactured car that moves for rental or service fleet. Some dealers are not entirely sure that this is a good deal. The idea is to increase the sales by inducing buyers with lower rates. This decision to suddenly hike up the sales of Pontiac and Saturn cars has been made since General Motors has decided to bring an end to their nameplate, despite a major amount of restructuring done this year. General Motors deal with Penske Automobile Group regarding the sale of Saturn nameplate has also fallen through.
The factory rebate for Pontiac’s new models has already reached $6500, according to Fred Ferrara, General sales manager of Fairborn Buick Pontiac, GMC. He has also stated that the rebate will only apply if the cars are moved into the rental or service fleets for thirty days or thirty thousand miles. There are chances of making higher savings regarding taxes with brand new cars as compared to used cars. This has led to consumers invest in a new car instead for tax savings. Ferrara currently has only one Pontiac G6 coupe left on his lot. The remaining model will also sell in a short period of time. Buicks and GMC cars have also now picked up on the sales. Owner of Reichard Buick Pontiac GMC in Dayton, Gene Reichard claims that this fire sale has generated a lot of interest since it is a good offer. In two months, Reichard has sold 130 cars of Pontiac make. Buyers are not availing $6500 factory rebate, but also an additional $7000 rebate as well.