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.
General Motors unveiled the Chevrolet Cruze ECO at New York Auto Show. The Chevrolet Cruze ECO is a high-efficiency model which is powered by a 1.4-liter Ecotec turbocharged engine equipped with variable valve timing that’s coupled with a six-speed manual transmission. A six-speed automatic will also be offered as an option. The company estimates the Chevrolet Cruze ECO will give a 40 mpg fuel consumption on the highway.
The Chevrolet Cruze ECO comes with a lower front grille air shutter that closes at high speeds to improve aerodynamics and a lower front air dam extension. The Chevrolet Cruze ECO also features a lowered ride height, 17-inch lightweight aluminum wheels and ultra-low rolling resistance 17-inch Goodyear tires.
The Eco achieves greater fuel economy using a number of features that enhance its aerodynamics, minimize weight and reduce rolling resistance. The Chevrolet says the Cruze ECO will accelerate from 0 to 60 mph in just 10 seconds with the manual gearbox and in 0 to 60mph in just 9 seconds with the automatic gearbox.
Also debuting in New York will be a sporty variant of the Cruze, the RS model, which is essentially a styling package. It will be available on the upscale Cruze LT and LTZ trim levels. It features special bumpers, side skirt, a rear spoiler and an instrument cluster with chrome accent rings.
The Chevrolet Cruze ECO price and availability will be announced at a later date and the Cruze Eco will be available in the fourth quarter of 2010.
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.
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.
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The 2010 Consumer Report’s Top Ten list is out! And…the Nissan Altima has been announced the Top Pick Family Sedan! Consumer Reports said in its news release “The Altima has been one of our top-rated family sedans for years, and a freshening for 2010 made it better. It now gets improved gas mileage and provides standard ESC [Electronic Stability Control] in all trim lines. The Altima offers an appealing balance of comfort and performance, while getting some of the best fuel economy in its class: 26 mpg overall for four cylinder models and 24 mpg with a V6.”
Kudos to our Altima for being named one of the best cars to buy!
Please comment on this blog with any great stories you may have about your Nissan Altima!
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!
The 2010 Chevrolet Malibu ranks 5 out of 21 affordable midsize cars. This ranking is based on our analysis of the 71 published reviews and test drives of the chevrolet Malibu , and our analysis of reliability and safety data.
The Chevrolet Malibu has enjoyed a ranking near the top of the midsize car class since a 2008 redesign. With a distinctive, two tone cabin more stylish than the Honda Accord or Toyota Camry, a balanced ride and excellent fuel economy, the Chevy Malibu is one of the best family cars available.
When the Chevy Malibu was redesigned for 2008, the automotive press heaped awards on the car. It was one of the car and Driver’s 10Best, North American Car of the year at 2008 North American International Auto Show, and one of the Automobile Magazine’s 2008 Automobile All-Stars.
The 2010 Chevrolet Malibu model has changed little from that wildly successful car. The 2.4L four cylinder engine offered on base models can now use E85 as well as regular gasoline. A hybrid edition has been discontinued. With its crisp, tailored lines, the Chevrolet Malibu looks more like a luxury sedan than a fleet car. And along with the upscale styling is a similarly handsome cabin in terms of materials and build quality. Two-tone interior schemes, even on base models, further the effect.
The 2010 Chevy Malibu is available in four trims: base LS, midlevel 1LT and 2LT and luxury LTZ. Even the LS comes with full power features, air-conditioning, satellite radio, side curtain airbags, traction control and OnStar. The LT versions upgrade with stability control, alloy wheels and (on the 2LT) heated seats and more power features. Highlights of the LTZ include foglamps, 18-inch alloys, leather seating and an upgraded audio system.
Once an afterthought for import shoppers, the Malibu should now be a consideration for Accord and Camry shoppers. It’s not the only domestic midsize car buyers should consider, either an improved Ford Fusion is now competition for the top of the class as well.
The investment incurred to build and run Auto plants amounts to very high cost. The traditional model carried out by Auto companies was limited to engineering and manufacturing processes. Ford used to charge dealers based on model, the time they left the factory outlet, led to development of integrated automobile factory, “The River Rouge plant” which today has become a burden
The current scenario of auto industry today is entirely different, where in there is hair line margin between the best and worst, no longer there is much difference in terms of finished products and all vehicles meet the same standard, what defines best and worst is how brands are perceived by car drivers.
For example, Cherokee is considered still as a jeep even though manufactured by Magna in Austria and BMW 3 models are seen as German cars, even though they are manufactured in South Africa. It is very strange to observe, Penske’s Saturn does not own a single auto factory, design studio or proving ground, what all they own is intellectual property of the Saturn brand and that is what Penske stroke of genius.
Marketing strategy has become a vital tool for the auto company to sell their brands. Saturn has succeeded in the market although it was not much different from Toyota or Honda, but the smart way it was marketed with subtle promises of the brand coupled with excellent customer services and no haggle pricing
As per the current agreement, General Motors have agreed to build Saturn for Penske for a period of two years, there is talk from Penske, that future Saturn models may be sourced from variety of automakers around the world, the latest hearsay is Penske talks with Renault There is also possibility that they may re-badge the manufacturer existing models
According to CSM Worldwide, a reputed auto Industry forecaster, It would not be difficult to build 92 million vehicles a year, but the forecast for 2009 would be 60 million If the global economy would recover soon, the spare capacity could be higher
The Saturn brand is the driving force behind Penske success in selling the cars and trucks. The moral to learn is irrespective of vehicles made anywhere and by any automotive segment, the end result if it meets the performance, quality, equipment levels and economy, the purchase experience always would be on higher side.
These days the cars and trucks are built with perfection both in design and mechanism both. They are being built very well with a little or no scope of replacement. This makes it further difficult for the car makers to sell their new models. Therefore, the car manufacturer s needs to expand the concept for Cars for Clunkers or the excitement aspect of new models to increase their sales. This is the only way to get over the doldrums situation of the automotive industry and the world’s economy at large. Let’s understand this concept a little further.
According to a recent report published by the AIADA, in the year 2005 the number of people in the US who were willing to wait for a maximum period of four years before they bought a new car has increased substantially to 28.5 percent. Similarly, the results of another study conducted by AutoPacific , there was a massive decrease in the sales of light vehicles from 14.7 million a year to 9.5 million units.
Around 32000 participants who took part in this study had purchased the light vehicles of 2009 models between September and December this year. Also, there was a marginal increase of 2.3 percent of people planning to buy a new vehicle in the next six months. However, the people planning to buy a new vehicle in between six to one year increased by only a very small proportion of 1.3 percent. These numbers were an all time low in the last 42 years.