GM Seeks Court Approval To Sell Chevrolet And Cadillac To A ‘New GM’ Entity

GM Seeks Court Approval To Sell Chevrolet And Cadillac To A ‘New GM’ Entity

GM US, in bankruptcy, is seeking approval from a US bankruptcy court to sell its best bits, its most valuable assets… to itself.

Now while this might seem like yet more corporate jiggery-pokery (and there has been a lot of that around), GM CEO Fritz Henderson told the court that sale of GM’s best assets, [...]

Post-Bankruptcy GM To Be Billions Better Off

Post-Bankruptcy GM To Be Billions Better Off

GENERAL MOTORS is looking to divest itself of around AU$15 billion in costs during its Chapter 11 reorganization, leading to a GM that could actually turn a profit, spend more on development, and resuscitate supply lines when existing stock clears out and new models can once again become the focus.

GM is also hoping to [...]

2010 Chevrolet Volt Hits The Road In Pre-Production Testing

2010 Chevrolet Volt Hits The Road In Pre-Production Testing

Chevrolet Volt Vehicle Chief Engineer Andrew Farah takes the first pre-production Chevrolet Volt for a drive in Warren, Michigan.

A WEEK AHEAD of schedule, GM’s Chevrolet Volt hybrid has hit the road, in pre-production form, ahead of its market debut around November next year.

While all of the previous sights of the Volt have been mockups and [...]

2010 Chevrolet Corvette Z06 Details Revealed

2010 Chevrolet Corvette Z06 Details Revealed

Above: The 2009 Chevrolet Corvette Z06

IN WHAT MUST BRING a wave of relief for GM US car dealers, Chevrolet has unveiled details and pricing for the company’s entry-level hero car, the updated 2010 Corvette Z06.

Producing a commanding 377kW from its 7.0 litre LS7 V8, top power comes on at 6300rpm, while the 640Nm of [...]

2010 Chevrolet Camaro Australia Bound After All

2010 Chevrolet Camaro Australia Bound After All

WE WEPT WHEN GM announced that a right-hook version of the 2010 Chevy Camaro would not be built, but now there’s reason for Australian pony car fans to smile again.

Queensland-based car importers Performax International has announced that it will be bringing in left-hand-drive Camaros, converting them to right-hand-drive and offering them for sale to Australian [...]

Chinese Government May Scuttle Tengzhong’s Hummer Bid

Chinese Government May Scuttle Tengzhong’s Hummer Bid

HUMMER’S SALE to Sichuan Tengzhong is mere months away from being finalised, however it appears there’s now one heck of a hurdle for the two companies to overcome.

A Chinese state-controlled news outlet, Shanghai Securities News, is reporting that the central government is likely to scuttle Tengzhong’s plans for the acquisition, fearing it goes against the [...]

2011 Saab 9-5 To Debut At Frankfurt Motor Show

2011 Saab 9-5 To Debut At Frankfurt Motor Show

WHILE SAAB WORKS to find itself a new owner before current parent GM formally cuts ties in January 2010, the embattled Swedish manufacturer is expected to reveal the new Saab 9-5 at the upcoming Frankfurt Motor Show in September, due for production late next year as a 2011 model.

Based on a lengthened version of the [...]

Hummer’s Chinese Buyer Revealed

Hummer’s Chinese Buyer Revealed

LITTLE-KNOWN Chinese industrial machinery company Sichuan Tengzhong has emerged as GM’s approved buyer for the Hummer brand. Although Hummer will be divorced from General Motors once the deal is finalised later this year, Tengzhong is adamant that much of Hummer’s current business structure will remain unchanged.

There will be no corporate reshuffle, nor will Hummer’s headquarters [...]

Buyer Found For Hummer, Brand To Live On Outside Of GM Empire

Buyer Found For Hummer, Brand To Live On Outside Of GM Empire

GENERAL MOTORS announced today that it has secured a buyer for its struggling Hummer brand, with the sale of the marque is expected to be completed sometime in the third quarter of this year.

The buyer is unknown at the moment, and the terms of the memorandum of understanding between it and GM prevents its identity [...]

Holden Safe: Part Of New GM, New Export Programs In The Wings

Holden Safe: Part Of New GM, New Export Programs In The Wings

MARK REUSS, Holden Managing Director, confirmed this morning that Holden will “continue normal operations” and will be “unaffected” by the filing overnight for bankruptcy by US parent, General Motors.

Speaking at a press conference at Holden’s Port Melbourne HQ, called in response to the announcement from GM overnight, Mr Reuss said:
“We’re safe, we’re part of the [...]

GM Files For Chapter 11 Bankruptcy; Plants To Close, Dealerships Cut, Holden ‘Unaffected’

GM Files For Chapter 11 Bankruptcy; Plants To Close, Dealerships Cut, Holden ‘Unaffected’

THE INEVITABLE for General Motors - America’s 101 year-old vehicle manufacturing colossus, a symbol for generations of Americans and once the world’s largest car company - has now occurred.

Last night, Australian time, GM filed for bankruptcy. But while 11 plants will close, and three will be mothballed until at least the end of 2010, an [...]

Holden Calls Media Conference For 9:00am As GM Heads For Bankruptcy Court

Holden Calls Media Conference For 9:00am As GM Heads For Bankruptcy Court

IN A MOVE that will have surprised no-one: General Motors US will file for bankruptcy early tomorrow morning, Australian time.

As outlined in an announcement from the Obama Administration detailing the bankruptcy process, the move will leave the US Government – and consequently, US tax-payers - with a 60 percent equity stake in the giant automaker.

The [...]

German Government Chooses Magna As Preferred Opel Buyer

German Government Chooses Magna As Preferred Opel Buyer

AFTER TALKS THAT stretched into the early hours of Saturday morning, the German Government has selected Canadian parts manufacturer Magna as its preferred bidder in the battle for GM Europe subsidiary Opel.

As part of the deal, Berlin will provide an immediate loan facility of 1.5 billion euros (AU$2.65b) to shore up Magna’s bid, with the [...]

GM Commences Pre-Production Of Chevrolet Volt

GM Commences Pre-Production Of Chevrolet Volt

GENERAL MOTORS HAS begun pumping out the first batch of pre-production Chevy Volts, cars which will be used for a wide range of testing, troubleshooting and safety certification over the coming months.

To date, the only Chevrolet Volts we’ve seen have been hand-built prototypes based on the Cruze and Chevy Malibu, which are, of course, not [...]

Holden To Export Alloytec V6s To Cadillac

Holden To Export Alloytec V6s To Cadillac

HOLDEN MAY HAVE lost a lucrative market when the Commodore-based Pontiac G8 got canned (along with Pontiac itself) late last month, but the Australian branch of the General Motors empire is still doing it all it can to claw back some export revenue from its Stateside parent.

GM’s luxury arm Cadillac has placed an order with [...]

GM Bankruptcy Imminent: UAW Negotiates Agreement But Bondholders Hold Out

GM Bankruptcy Imminent: UAW Negotiates Agreement But Bondholders Hold Out

GM US HAS OVERNIGHT moved one step closer to bankruptcy following the rejection of a debt for equity offer by GM to its bondholders (the banks and institutions holding US$27.2 billion in GM debt securities).

Chapter 11 bankruptcy protection for GM is now all-but certain; perhaps as early as tomorrow. Of such a size and [...]

General Motors Developing Compression-Ignition Petrol Engine

General Motors Developing Compression-Ignition Petrol Engine

COMPRESSION IGNITION is, by convention, strictly the domain of diesels. The sparkplug-less ignition of a fuel-air mixture does however hold some promise when applied to petrol engines, and General Motors is moving forward with its development of a workable compression-ignited petrol powertrain.

Dubbed the HCCI (or Homogenous Charge Compression Ignition) engine, GM’s experimental powerplant works on [...]

Chevrolet Camaro Convertible Gets 2011 Launch

Chevrolet Camaro Convertible Gets 2011 Launch

THE LAST TIME we heard that the ragtop version of the fan-favourite Chevrolet Camaro was on track for a 2011 showroom debut, there appeared to be some uncertainty around the traps as to just how seriously we could all take that claim.

Now, General Motors US spokesperson Terry Rhadigan has confirmed that the Holden-engineered Camaro [...]

GM Recalling 35,000 Pontiac G8 Sedans, Holden Says Commodore Safe

GM Recalling 35,000 Pontiac G8 Sedans, Holden Says Commodore Safe

GM HAS ANNOUNCED that some 35,038 Pontiac G8s – the Aussie-built sibling to the Commodore and one of the last models to bear the recently retired Pontiac badge – will be recalled, due to concerns over two electronic functions.

According to the recall notice, the first of the two faults is an incorrectly programmed brake pedal [...]

GM May Ramp Up Imports For USA, Effect On Holden Unclear

GM May Ramp Up Imports For USA, Effect On Holden Unclear

General Motors is reportedly nutting out the details of how it will reorganise its operations to restore profitability, and one of the ideas that’s presently on the table is to increase the number of imports of Mexican and Asian-made GM products into the USA.

Such a move would, of course, result in massive plant closures and [...]

2010 Saab 9-5: Is It So Good, GM CEO Fritz Henderson Can’t Bear To Drop Saab?

2010 Saab 9-5: Is It So Good, GM CEO Fritz Henderson Can’t Bear To Drop Saab?

If Swedish rag Expressen is to be believed, the upcoming 2010 Saab 9-5 is going to be such a hot seller that GM’s new CEO Frederick ‘Fritz’ Henderson is hesitant to offload its premium European brand.

Expressen reports that a source within GM has suggested that Henderson is afraid to have Saab and its new 9-5 [...]

General Motors To Import Chinese-Built Cars?

General Motors To Import Chinese-Built Cars?

In a move that could see dramatic effects on employment in the US auto industry, General Motors will be the first automaker to import Chinese-built cars into the United States, according to Automotive News.

Citing a leaked document revealed to lawmakers overseeing the restructuring of the auto giant, the respected US industry broadsheet reports that GM [...]

GM CEO Fritz Henderson Chats With Consumers On Company Blog

GM CEO Fritz Henderson Chats With Consumers On Company Blog

New GM CEO Frederick ‘Fritz’ Henderson took part in an online chat with consumers on Monday morning (US time), and while nothing was revealed that the automotive world doesn’t already know, it’s interesting to read the CEO’s opinions and feelings on the future of the former ‘number 1′ manufacturer.

Henderson touched on a number of topics, [...]

Chevy Destined For Competitive Top Quality Future, Says Henderson

Chevy Destined For Competitive Top Quality Future, Says Henderson

New GM CEO Fritz Henderson has declared that Chevrolet, in the next two years, will have repositioned itself as a competitive, top-quality brand.

Speaking with US mag AutoWeek, Henderson said he believes fresh new Chevy models like the Cruze (to be sold locally as the Holden Cruze) and the Spark will help the brand grow its [...]

GM: US$6 Billion First Quarter Loss, Bankruptcy Beckons, Holden Waits

GM: US$6 Billion First Quarter Loss, Bankruptcy Beckons, Holden Waits

General Motors must be wondering whose headstone it has kicked over. Just when it seemed news could get no worse for the giant automaker, it gets worse.

GM is now reporting that it chewed through US$10.2 billion in the first quarter of 2009 as sales plunged, posting a US$5.98 billion loss – a net loss of [...]

Holden Sale Not On The Cards: Spokesman

Holden Sale Not On The Cards: Spokesman

With GM announcing the demise of Pontiac, the sale of Saturn and Hummer, and the cloudy future of most of its European brands, it was inevitable that people would start questioning the future of Holden within the General Motors empire.

But now a Holden spokesman has cleared the air, saying that for the time being Holden’s [...]

GM Officially Announces Saturn Sale In Full Swing

GM Officially Announces Saturn Sale In Full Swing

While many shed a tear for GM’s Pontiac division when it was announced the almost 100 year-old badge would be retired, scarcely a whimper has been heard for that other soon-to-be-dumped GM brand, Saturn.

The difference between Pontiac and Saturn however, is that Saturn is to be sold off, while Pontiac will simply disappear from dealerships. [...]

Pontiac G8 Could Live On As Chevy-Badged Police Car

Pontiac G8 Could Live On As Chevy-Badged Police Car

While Pontiac is well and truly dead, the Commodore-based G8 sports sedan sold under the American brand may live to fight another day.

Fight crime, that is.

Melbourne-based organisation, the National Safety Agency (NSA), is currently conducting negotiations with a number of law enforcement agencies in the United States, where its specially-prepared G8 has been shortlisted as [...]

Holden Responds To GM’s Decision To Close Pontiac

Holden Responds To GM’s Decision To Close Pontiac

While General Motors’ decision to bin Pontiac will have an undoubtedly profound effect on its US operations and employees, the ripples of GM’s announcement are already being felt here in Australia.

As the sole manufacturer of the Pontiac G8 sports sedan (essentially an SS Commodore in LHD clothing), Holden will lose a potentially huge export market [...]

GM Officially Drops Pontiac Division

GM Officially Drops Pontiac Division

After rumours last week told of an impending death for GM’s Pontiac brand, GM’s terse response could have been interpreted as saying that Pontiac had been granted a stay of execution.

Turns out the pundits were right: General Motors has formally announced in its updated Viability Plan that the Pontiac division will be cast off as [...]

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