Category Archives: results

Next Generation Chevrolet Silverado Pickup to Debut in December

Chevrolet will unveil what is calling the all-new Silverado 1500 full-size pickup on 13 December at a special event in the Detroit area. In a release, Chevy claimed, “bold exterior design of the new Silverado reflects the enhanced capabilities of the truck while features such as jewel-like, projector beam headlamps showcase the careful attention given to every detail.” Presumably, this also means a “bold new grille.” Continue reading

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Stefan Jacoby Out at Volvo Car. Håkan Samuelsson new CEO

The Board of Directors of Volvo Car Group has appointed Håkan Samuelsson as its new President & CEO effective immediately, the Chinese owned company said today. Stefan Jacoby will leave Volvo Car Group and the board. Continue reading

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Ally Financial to Sell Mexican Insurance Business

Ally Financial today announced that it has reached an agreement to sell its Mexican insurance business, ABA Seguros, to the ACE Group, one of the world’s largest multi-line property and casualty insurers. ABA Seguros is the fourth largest insurer in the Mexican auto insurance market, and the transaction has a purchase price of $865 million in cash.

The latest move to fix the balance sheet of the former finance arm of General Motors comes a week after the announcement that Ally will make a payment of approximately $134 million, or $1.125 per share, to the U.S. Treasury next month. U.S. taxpayers have invested $17.2 billion in keeping Ally in business as a bank holding company after improvident home mortgages made it bankrupt under the Bush market crash. Continue reading

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Milestones: 25 years of Volvo Airbags

The airbag has been a standard feature in all cars for several years now, but in the early days both the technology and its reliability created intense debate with safety advocates and government regulators ignoring the very real problems earlier designs had. The problem in the U.S. was largely caused by Joan Claybrook and other advocates and legislators who sold the idea of the airbag as eliminating the need for unpopular safety belts and belt interlock system.

In spite of extensive crash test data from Ford and General Motors, among others, showing that the regulation proposed in 1984 and effective in 1987 required a too powerful explosion to protect an unbelted 170-pound male without hurting smaller stature people the law went ahead. Regulators and politicians simply ignored the engineers. Dead drivers and passengers, some of them decapitated, were the grisly result until the regulations were rewritten as field results came in – dead on arrival so to speak. Continue reading

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Cadillac ELR to be Built at Detroit-Hamtramck

Development of the Chevrolet Volt-based Cadillac ELR is now underway, and GM has just confirmed that the ELR will be built at the GM’s Detroit-Hamtramck plant. The on again/off again program is based on the Converj concept first shown at the 2009 North American International Auto Show as General Motors was hurtling toward a bankruptcy reorganization. Converj, err ELR, will be GM’s second hybrid after the Chevrolet Volt/ Holden Volt/ Opel Ampera when it appears late in 2013 as a 2014 model. Continue reading

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A123 Files Bankruptcy. Johnson Controls to Purchase its Auto Assets

A123 Systems (Nasdaq: AONE), a developer and manufacturer of nanophosphate lithium iron batteries and systems, today filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. A123 ran out cash as demand for EVs and its batteries remains weak to almost non-existent. As part of a proposed reorganization Johnson Controls (NYSE: JCI) will supply $72.5 million in “debtor in possession” financing to support A123’s continued operations as JCI purchases parts of A123. Continue reading

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September EU Vehicle Sales Drop 11%. Eurozone Crisis Unabated

EU new vehicle registrations continued their downward slump in September declining 11% from September 2011. It was the twelfth straight month of sales declines across the economically embattled Eurozone as the trade bloc comprised of 27 bickering nations or tribes heads for its fifth straight year of declining sales. Continue reading

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Ford and GM Set China Vehicle Sales Records in September

General Motors Company and Ford Motor Company have set September sales records in China, the world’s largest automarket. The results were in keeping with the disparate positions of the Number One and Number Two U.S. automakers in the communist country. Continue reading

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Los Angeles Most Congested of any City in the U.S. and Canada

Los Angeles traffic remains the most congested of any city in the U.S. and Canada, according to a survey just released. Trip times in Los Angeles are 33% longer on average than when traffic in the city is flowing freely, and a whopping 74% longer during evening rush hour. Other congested cities include Vancouver 33%, San Francisco 29%, Montreal 28%, Toronto 27%, Washington 26%, Seattle 26%, New York 25%, Chicago 23% and Miami 22%. Continue reading

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Fiscal Cliff Applies to U.S. Auto Sales Post Election. Yes or No?

Nevertheless, in keeping with Harry Truman’s failed search for a one-handed economist, the rating agency hedged its prediction. “Regarding the fiscal cliff, in our opinion, it is likely that all or some of the tax increases and spending cuts will be resolved or at least temporarily deferred,” Fitch backpedaled, in the same report.
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Ally Financial Declares Dividends on Preferred Stock

The Ally Financial board of directors has declared a quarterly dividend on outstanding preferred stock effective 15 November 2012. A payment of approximately $134 million, or $1.125 per share, will go to the U.S. Treasury, which has invested $17.2 billion in keeping Ally, formerly GMAC, in business as a bank holding company. Continue reading

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Ford Motor and General Motors Declare Stock Dividends

The Boards of Directors of Ford Motor (NYSE: F) and General Motors Company (NYSE: GM) have declared quarterly stock dividends, as the U.S. auto industry continues its slow financial recovery because of increasing auto sales. Continue reading

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U.S. Motorcycle Thefts Decrease to One Every 11 Minutes

The National Insurance Crime Bureau today said that motorcycle thefts were down 6% in 2011 from their 2010 total. This means 46,667 motorcycles reported stolen in 2011 compared with 49,791 in 2010. The theft rate, which sounds low, actually averages to one motorcycle theft every 11 minutes. Continue reading

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GM Ren Cen Honors Triple Crown of Tiger Miguel Cabrera

General Motors is adding three panels to its changing LED sign atop its Renaissance Center headquarters this weekend to celebrate Detroit Tigers third baseman Miguel Cabrera’s winning the American League Triple Crown. Cabrera led the league during the 2012 regular season in the batting average (.330), runs batted in (139) and home runs (44), and if there’s any justice in the baseball world should be the most valuable player when the votes are tallied, unless something, well, fishy occurs.. Continue reading

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Most Buyers Shopping for New Vehicles use Personal Computers

While the buzz in the computer world is all about the growth of mobile devices to access the Internet, so-called tablets and smartphones are only being used by one in five new-vehicle buyers. This compares to nearly all (99%) buyers who use a desktop or laptop computer at some point when shopping for new wheels. Continue reading

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