Auto Industry Update
Volkswagen, MIT Develop In-Car Robot
Posted: Nov. 02, 2009 09:11:13 a.m.
If you thought the voice-activated navigation system in your car was cool, you ain't seen nothing yet. Your next car could come with a far more advanced navigation aide - one that can hold up its end of a conversation.
The Los Angeles Times reports that Volkswagen and the Massachusetts Institute of Technology are working together to develop "a dashboard-mounted robotic device that uses myriad sources of information to help you plan travel routes, dodge traffic jams, find heretofore unrealized ...
GM Insists: We Don't Need More Bailout Money
Posted: Nov. 02, 2009 09:11:25 a.m.
General Motors will not need any more federal aid, its chairman says.
The Washington Post reports, "General Motors chief executive Fritz Henderson was in Washington on Wednesday visiting with the company's major shareholder -- that is to say, the U.S. government." In a meeting with reporters, Henderson insisted that, under "any reasonable planning scenario," GM "will not request more federal aid. The amount of financing provided was sufficient."
GM faces a potential backlash over reports that its former financing ...
The Auto Bailout Isn't Over; GMAC May Get More Aid
Posted: Oct. 29, 2009 10:10:22 a.m.
If you hoped the auto bailout had ended when Chrysler and General Motors emerged from bankruptcy, you might want to stop reading.
The Detroit News reports, "The Treasury Department plans to inject up to $5.6 billion in new capital in GMAC -- the latest effort to help the auto finance giant, a government official confirmed late Tuesday." The government will accept preferred shares of stock in return. "The new government infusion would be on top of $12.5 billion in ...
GM Exec Prepares to Race All Comers to Prove Cadillac's Worth
Posted: Oct. 29, 2009 10:10:05 a.m.
General Motors thinks its products can hang with the best in the world, but many Americans don't agree. It's an issue that can be addressed with several years of carefully-planned marketing and patience.
Or with a schoolyard dare.
Those who know GM Vice Chairman Bob Lutz could have predicted how this would turn out.
Lutz, a 77-year old former Marine Corps fighter pilot who delayed his retirement to guide the company's post-bankruptcy marketing efforts and is known ...
Consumer Reports: Ford Now Close to Honda, Toyota in Reliability
Posted: Oct. 28, 2009 10:10:11 a.m.
Ninety-percent of the cars and trucks built by Ford now have average or better than average reliability, according to Consumer Reports' latest survey. That puts the Detroit-based automaker on a nearly equal footing with perpetual quality leaders Toyota and Honda, and well ahead of its American rivals.
CR finds, "Of the 51 Ford, Mercury, and Lincoln products that we surveyed, 46, or about 90 percent, were average or better." The two major Japanese brands narrowly beat that performance. "All Hondas ...
Report: Fiat to Slash Chrysler Lineup
Posted: Oct. 28, 2009 10:10:31 a.m.
Ever since Italian automaker Fiat took control of Chrysler following the automaker's bankruptcy, we've been waiting for the axe to fall on some underperforming Chrysler products. The Dodge Avenger, for instance, has held the bottom spot in our Affordable Midsize Car rankings all year. Ditto the Dodge Caliber, the current holder of the bottom rung in our Affordable Small Car list.
If media reports are to be believed, both vehicles could be gone soon.
Electric Car Startup Fisker Buys GM Plant to Build Midsize Car
Posted: Oct. 28, 2009 10:10:48 a.m.
Over the next few years, we expect to begin seeing some unfamiliar hood ornaments in the rear-view mirror. One of the start-up companies vying to become the future of the American automotive industry just took a big step toward viability.
Edmunds Inside Line reports, "Tiny Fisker Automotive on Tuesday confirmed that it will spend $18 million to buy GM's dormant Wilmington Assembly plant in Delaware to build its plug-in hybrid sedan starting in late 2012." The plant once built ...
Experts See Auto Sales Recovering Next Year; Prices Could Rise
Posted: Oct. 26, 2009 10:10:52 a.m.
Americans bought more than 16 million cars in 2007. We bought just over 13 million in 2008. Despite the sales frenzy triggered by the government's Cash for Clunkers rebate program, many analysts believe we won't quite have bought 10 million by the end of 2009. Some say, however, that the downward trend will reverse itself soon.
Reuters reports, "U.S. auto sales are projected to rise nearly one-fifth to 11.8 million units in 2010, influential industry tracking ...
Ford May Balk at Selling Volvo to Chinese Firm
Posted: Oct. 26, 2009 10:10:28 a.m.
Volvo may not become the second Chinese-owned company with a presence in the U.S. auto market, after all.
ABC News reports that talks between Ford and Chinese automaker Geely "have stalled over disagreements on intellectual property." The two companies have been "discussing a possible deal" in which Geely would buy control of Volvo "for 10 months."
The problem, according to Autoblog, is that Ford may want to sell its interest in the slow-selling Swedish luxury brand, but it doesn ...
Government to Shut Down Chrysler Financial
Posted: Oct. 26, 2009 10:10:03 a.m.
Uncle Sam is shutting down Chrysler Financial...and it's news to the folks at Chrysler Financial.
The Detroit News reports, "The Treasury Department said Thursday that Chrysler Financial is working to close its doors by the end of 2011." Official at Cerberus Capital Management, which owns and operates Chrysler's financing arm, however, "said they were unaware of any liquidation orders and that closing isn't part of their business plan."
The company was once the primary lending arm ...
