Author: Staff (Page 169 of 202)

No business plan for GMAC?

March 12, 2010 /

GMAC is on the ropes? That’s right, after over $17 billion in US taxpayer bailout funds this is the new headline ” Congressional panel says GMAC has no business plan; suggests break up” We need some answers fast! Maybe Alan Mulally could right this ship?

From Automotive News.com:

WASHINGTON — GMAC Inc. still has no business plan even after receiving a $17.2 billion investment from the government, and the Treasury Department has been lax in making sure that the bank repays taxpayers, a congressional panel said today.

“The panel is deeply concerned that Treasury has not required GMAC to lay out a clear path to viability or a strategy for fully repaying taxpayers,” said the Congressional Oversight Panel, which was created to oversee Treasury’s spending of Troubled Asset Relief Program funds.

Treasury should consider the possibility of breaking up GMAC and merging its auto-finance unit back into General Motors Co., the panel said in a statement.

Read the full article here.


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News

Ed Whitacre clueless in Motorcity?

March 12, 2010 /

Peter Delorenzo at Autoextremist.com is not feeling the love for GM everything Ed Whitacre.

No one could miss the headline screaming “Whitacre wants more sales – NOW!” on the top of the front page in this week’s Automotive News. And as the story attempted to flesh out Big Ed’s growing impatience with the whole “sluggish sales” quandary that continues to vex GM – and the reassignment and in some cases jettisoning of sales and marketing executives – and after observing the day-to-day chaos that seems to define GM of late, I’m getting the distinct impression that Whitacre still doesn’t have a clue as to what he’s dealing with here in the auto biz.

So I thought I’d give Big Ed a few pointed reminders…

Dear Ed:

I’m sure you’ve figured this out about now, but just in case you haven’t, this business isn’t about consolidating “Baby” Bells, or fixin’ to make deals, or playing phone and cable customers off against each other, either. And it’s not about packaging cable, phone and Internet service into tidy little bundles that people can deal with by the month, at the expense of a competitor you want to bury.

Read the full article here.


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News

Toyota sales to rise 30%?

March 12, 2010 /

Will consumers stick with the problematic Toyota? According to this report Toyota sales for March are forecasted to rise 30% compared to March 2009. Looks like the heavy incentives are doing the trick for now but time will tell how much damage Toyota will suffer from this mess.

From Automotive News.com:

DETROIT — New incentives are boosting Toyota’s U.S. sales big time in early March, and analysts forecast a 30 percent bounce for the full month.

After Toyota brand sales fell 10 percent in February as it struggled with safety recalls, on March 1 Toyota Motor Sales U.S.A. Inc. introduced 0 percent financing, subsidized leases and free maintenance incentives.

Toyota Senior Vice President Don Esmond told suppliers today that North American sales surged about 50 percent in the first eight days this month, The Associated Press reported.

Read the full article here.


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News

Nissan entering commercial van market

March 12, 2010 /

Looks like Nissan is entering the commercial van market and it’s with a van built in the USA. Ford has owned this segment for the past 40 years and I’m sure they’ll do whatever they can to hold onto market share. Also, Fiat has plans to enter this market with one or two products coming over from Europe so look for this segment to start having real competition.

From the Detroit Free Press:

Nissan will challenge General Motors’ and Ford’s stranglehold on the market for full-size vans when it unveils its big NV today.

The large van is the first from a foreign brand to go after a small but profitable business segment U.S. automakers have had to themselves. Nissan will build the van in its under-utilized Canton, Miss., assembly plant. The van shares its basic engineering with the Titan pickup Nissan builds in Canton.

“The commercial van segment has been relatively ignored” by domestic automakers, simply because there’s not enough competition to force them to improve their vehicles, said Joe Castelli, Nissan vice president for commercial vehicles and fleet sales.

Read the full article here.

New Cars, News

2010 Jaguar XKR Review

March 10, 2010 /

Sub5Zero.com recently did a road test and review of the 2010 Jaguar XKR. See what they had to say.

Back in 2005, Jaguar’s hottest selling model of all time ended its production run. That car was the XK. In the spring of 2006, the 2007 model emerged as a completely reworked vehicle that Jaguar hoped would continue to see record sales. The challenge for the company has been competing in a segment – Large Premium Sports Cars – that doubled from the mid 90s to the mid 2000s. Jaguar sought to blend the two major groups – grand tourers and sports cars – into a single kickass car.

That generation ran through 2009 offering a 4.2-liter V8 good for 300 hp and 310 lb-ft of torque as well as a supercharged variant providing 420 hp and 412 lb-ft of torque. But with everyone stepping up their game, Jaguar quickly realized that even though they had satisfied their goal, they certainly had no BMW M6 or Mercedes-Benz SL65 AMG killer…

When you think of Jaguar, tires evaporating into plumes of smoke is not the first thing that comes to mind. And rightfully so. The company has made a name for itself by producing solid touring vehicles that get you from point A to point B in style and luxury. The 2010 Jaguar XKR Convertible doesn’t depart from the company’s core principles, but it does add a performance spark that instantly transforms the car into an entirely different class of vehicle: the entry-level supercar.

Read the full review here.

Car Reviews, New Cars, News

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