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.
Over the next few weeks I will be outlining 11 reasons why the new 2011 Silverado Heavy Duty truck will crush any other heavy duty truck on the market. I have studied this truck…and have studied this truck…and for a change of pace, I have studied it some more…and I can not find a single job that this truck can not do – and I want nothing more than to share all of its glory with you!
For a little background on the 2011 HD:
Comprised of the broadest lineup of Silverado Heavy Duty trucks Chevrolet has ever provided, the new 2011 Silverado HD has something for everyone – literally. There are 19 models available, with 3 different trims to choose from, and a ‘Silverado-Extended-Cab-full’ of features for you to think about. Jim Campbell, Chevrolet’s General Manager, made sure that Chevy “…sought the input of [its] customers during the development of the 2011 Silverado HD to deliver a truck that meets or exceeds [the customers’] every need”, and, “…offers greater strength and capability – including class leading fuel economy, trailering and payload ratings – and has more power, accelerates quicker and has lower emissions” to those customers.
Reason #1: New Frames
The engineers determining the design of the HD’s frames were extremely attentive to its common customer and after uses. So much that they added access holes to the rear frame section for easier installation of 5th wheel or gooseneck style hitches and made sure that the frame mounted hitch for conventional trailering was stronger (made with a box-tube design), supporting up to 16,000 pounds.
Eleven all-new, fully boxed, frames have been engineered to improve durability and ride, while also supporting increased capability. The engineers added hydroformed front sections, increased cross sections and used high-strength steel for greater durability, higher towing capacity and improved ride and handling. The frames can bend up to 92% and 20% more, respectively, with the fully boxed sections enhancing torsional stiffness by a factor of 5.
Be on the look out for reason #2!