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.
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.
2010 Chevrolet Malibu or Chevy Malibu is one of the best looking and most popular ranked midsize cars. It has a two-tone cabin that is a style in itself and coddles a driver. It is more popular as a family car with balanced ride and economic fuel efficiency. The exterior of the Chevy Malibu has always scored good points. Some even compare its sheet metal with a European sports sedan.
Chevy Malibu was flooded with awards after it got redesigned in 2008. One of the most popular awards it got in 2008 was “North American Car of the Year”. This was given at North American International Auto Show.
These days it is a consideration for people opting to buy a Honda Accord or Toyota Camry as it is a good option as a family car.
Since 2008 there has been few changes in present day 2010 Chevrolet Malibu, in fact a major change has been instead of use of 2.4L four-cylinder engine one can use E85 as well as regular gasoline. The latest version is available at four trim levels.
Fuel efficiency is one of its strongest assets. Buyers need not worry about fuel economy as Chevy is building well-managed LTZ trim level with a fuel-efficient 2.4 liter four-cylinder engine along with a six speed transmission.
The next issue that makes it among the top cars are the safety. It has got a five star rating from federal government where safety is concerned. Before giving this rating its frontal as well as side-impact crash tests were conducted by the federal government.
A Chevy Malibu is covered by best coverage in America that includes a 3-year or 36,000-mile basic limited warranty also it has 5-year or 100,000-mile powertrain warranty.
It is considered as most striking car in its own class. It is considered as best buy in its competitive segment. It has all in one a smart looking interior, a sleek sheetmetal, a smooth four-cylinder engine, its redefined powertrains and the best thing is that all this at really affordable price. It is well equipped with impressive set of standard features for which you do not pay anything extra.
With only 500 units lined up for production, the 2011 Corvette Z06 Carbon Limited Edition serves as a must have for any Corvette collector! The new Z06 is “designed to further incorporate technology through racing”, and is, “…a tribute to the 50th anniversary of Corvette’s first race in the 24 Hours of LeMans”, says Chevrolet General Manager, Jim Campbell. According to Tadge Juechter, Corvette Chief Engineer, the Z06 Carbon is, “the best balanced Corvette yet. It combines the lightweight and naturally-aspirated Z06 engine with the road-holding and braking of the ZR1”.
This limited edition Z06 will boast Bremo carbon ceramic brakes with specific dark gray metallic calipers. The Corvette will also sport black 20 spoke 19-inch/20-inch rear wheels wrapped by Michelin PS2 tires. And, for the first time, the Z06 will have Magnetic Selective Ride Control.
The car also features a special carbon pattern engine cover. The Corvette Z06 Carbon will be available in two colors: Inferno Orange and Supersonic Blue. It is enhanced by black headlamps and mirrors, a ZR-1 style body color spoiler, body color door handles, carbon raised hood, and black carbon fiber rockers and splitter. For track events, you can even install Euro-styled racing numbers (that come with each car).
The 2011 Corvette Z06 is decked to the nines. Its ebony leather and suede interior is enhanced by blue or orange seat stitching (depending on what color you choose), and you will also find a unique steering wheel emblem, sill plate and logoed headrest. The suede used on the steering wheel, shifter, seat inserts, armrests and doors add to the luxury of the Z06!
The 2011 Corvette Z06 Carbon Limited Edition will be available late this summer! So look into buying yours today, there are only 500!
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 .
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.
In order to hike up the sales, General Motors Company is offering higher incentives to its dealers. According to Wall Street Journal, General Motors is trying to dump the leftover stock from Pontiac and Saturn manufacturers in the market in order to increase the December sales of the particular car manufacturing brands. Wall Street Journal has also states that, General Motors has sent letter to its dealers stating that they are ready to pay $7000, every time a car manufactured by Saturn or Pontiac’s possession is transferred from their stock to that of rental-vehicle or service vehicle. These cars would be sold on second hand basis since these dealers are considered as owners of the car, hence the discounts availed on these cars will be high. This offer is going to last until the 4th of January since it is the last day for the General Motor Company to hike up their December car sales. General Motors will be booking the sales as fleet deliveries General Motors is planning to quit on Pontiac and Saturn and focus its attention on Hummers instead. General Motors’s contract to sell Saturn’s cars had collapsed in September, since then it has also pulled out of the contract to sell Opel by its European Unit. Currently its consignment of Hummers to a Chinese firm has been deferred and their deal with Saab cars is on a closure. This information has been provided by Reuters, but they were unable to get a comment from General Motors since it was past the US business hours.
General Motors, automobile maker has decided to launch a new Chevrolet accessory that will convert cars into a hot-spot for Wi-Fi. This device will be called a Chevrolet Wi-Fi and the service will be provided by Autonet Mobile. The device is given on dealership basis and it will be installed in a dock inside the car, which is compatible to empower a 3G mobile Wi-Fi router that can interchanged between various vehicles. This device can be installed in Chevrolet’s Equinox, Traverse, Silverado, Tahoe, Suburban, Avalanche and Express cars. General Motors state that Chevrolet’s Wi-Fi can download at a speed of 1.5 mbps. It can be used by several people at one go. The Wi-Fi can be accessed by not only people sitting inside the car, but also those who are at a distance of 150 feet. Towards the end of 2009 the device will cost $199, but after a mail in rebate of $200 had been sent a two years service agreement has been signed. The service costs are $29 and $59 for downloading data up to 1GB and 5GB, respectively, on a monthly basis.
Chevrolet and Autonet Mobile have proclaimed that they will be turning Chevrolet SUVs and Trucks into hot-spots for Wi-Fi connection. One can avail the services by getting a device installed by a dealer. This will ensure that one can access the net on their laptops, cell phones, etc, even on the move. These devices can only be fitted into seven models of Chevrolets, i.e. Tahoe, Suburban, Silverado, Express, Avalanche, Traverse and Equinox. Installation will cost $200 and monthly charges for the service will be $29, along with some unspecified costs. The internet cannot only be accessed from within, but also at a radius of 150 feet. Wi-Fi is convenient when one has to spend a lot of time on the road, such as for camping or tripping, etc.