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Author Topic: Official General Motors Thread  (Read 18465 times)
Elmo187
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« Reply #15 on: June 03, 2009, 02:44:42 PM »

or hell, a RWD Saturn with a V8 derived from the Rolex Grand Am DP class lol.
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Elmo187
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« Reply #16 on: June 06, 2009, 02:46:23 AM »

Official: Penske agrees to purchase Saturn
Source: AutoBlog
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Confirming a report we posted on earlier today, General Motors has reached a preliminary agreement to handover the Saturn marque to the Penske Automotive Group. In GM's official statement, the automaker says that the memorandum of understanding would entitle Penske to the brand's 350+ dealerships, the rights to the name and its associated iconography, as well as continued production of the Aura, Vue, and Outlook on a contract basis. As expected, the dormant Astra hatchback and the rakish Sky roadster will apparently not make the transition. No financial terms of the deal have been released.

As reported earlier today by The New York Times, that abbreviated Saturn lineup will likely be joined by vehicles procured from other overseas automakers, potentially Renault's Samsung Motors division in Korea. It is not immediately clear if Penske will use the opportunity to pair existing Saturn stores with the company's other automotive distribution channel, Smart.

According to GM, the agreement is expected to be consummated in the third quarter of this year, pending the necessary paperwork shuffling between the two companies and the federal government.

YES!.....NO!

i'm happy to hear an American company buying Saturn, but i'm saddened to see the Sky go. i can understand why though.....

Kappa = in limbo

this is what would happen if Penske were to keep the Sky around:

Sky - Penske
Solstice - monkey in the middle
Opel GT - Magna?
Daewoo G2X - ...?

GM would still have to shell out money to build the Kappa platform and THEN share it with different companies.
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When asked why they shot the suspect 68 times, Sheriff Grady Judd responded with "That's all the bullets we had."
Jared
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« Reply #17 on: June 09, 2009, 01:30:33 AM »

Will current Saturn employees keep their jobs?

Let's hope they do.

Now, when it says Penske bought Saturn does he (his company) just buy the name "Saturn" or do they buy the operations (the plants / buildings / holdings of the company)?

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clutch
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« Reply #18 on: June 09, 2009, 01:36:17 AM »

Well Jared,

Quote
the automaker says that the memorandum of understanding would entitle Penske to the brand's 350+ dealerships, the rights to the name and its associated iconography, as well as continued production of the Aura, Vue, and Outlook on a contract basis.

He gets everything but the manufacturing capabilities. That is why he will basically use the GM factories under contract to build the cars.


What I've seen is that the jobs seem to be guaranteed for 2 years, but then its up in the air.
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Jared
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« Reply #19 on: June 09, 2009, 01:38:56 AM »

Huh...

I seemed to have skimmed over that part of the text. I only saw where it said "Sky canceled"

2 years is still some job security.
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Elmo187
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« Reply #20 on: June 12, 2009, 05:17:44 AM »

Koenigsegg signs letter of intent to purchase Saab
Source: Motor Authority
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The ongoing tale of Saab's sale may be drawing to a close, as early reports out of Sweden today have General Motors and Swedish supercar maker Koenigsegg, along with a group of Norwegian investors, agreeing to the deal in a letter of intent. GM confirmed in its February viability plan that it would no longer supply Saab with funding and that the Swedish company would become an independent business as of January 1, 2010.

An official announcement of the sale is expected any day now, with insiders saying the outside window is two weeks. In its own turnaround plan presented to creditors, the company revealed that it is seeking to write-off roughly three quarters of its non-prioritized debt, aiming for positive cashflow by 2011. If the decision to sell to the Koenigsegg-led group goes through, don't expect final details to emerge for another month or more, however, as final negotiations on the details of the deal still have to be hammered out. The reports of the deal with Koenigsegg originate with a Swedish TV report citing unnamed sources, however, so nothing is official yet.

Saab spokeswoman, Gunilla Gustavs, has previously revealed to Automotive News that there were three remaining bidders left for the company and the sale process would continue despite GM’s bankruptcy. This figure is down from the previous 20 suitors, and the list of remaining bidders is known to include Swedish supercar maker Koenigsegg, Ira Rennert' U.S.-based Renco Group and as revealed Wednesday by Financial Times, a group of investors from Wyoming called Merbanco. Little is known about the new bidder's intentions or what sort of offers each has made for Saab.

Saab CEO Jan-Ake Jonsson's said on June 3rd to Swedish paper Dagens Industri, "Now we are negotiating with just two parties." That indicates that Merbanco may never have been a serious contender. But whatever the number of bidders, or who they are, Saab has been in need of cash to keep operating in both the short and long terms.

Thanks to 28 billion Swedish kronor ($3.23 billion) in loans and loan guarantees from the Swedish government, plus help from private investors, Saab will be able to operate as usual for the foreseeable future but the company is still predicting a loss of more than $300 million for the current year. Saab lost about $340 million in 2008, according to documents filed with the Swedish court that granted the company a stay of execution.

The injection of funding will be used to help launch three new models over the next 18 months and hopefully see the company become an innovator of technology like it had been in the past. Some important automotive technologies pioneered by Saab include headlamp wipers and washers, impact-absorbing bumpers, wastegate-operated turbocharger systems, and one of the world’s first 16-valve turbocharged engines.

The three new models planned include the recently revealed 9-3X as well as the new 9-4X and 9-5, all of which are desperately needed. Last year Saab saw its global sales drop 25.5% to just 93,338 units and 2009 is expected to be even lower.
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Elmo187
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« Reply #21 on: July 01, 2009, 03:32:49 AM »

Chevy Camaro ON DEMAND!
Source: AutoBlog
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You want a 2010 Chevrolet Camaro? You'd better come strong with more money than the MSRP requires, and you'd better be willing to wait. Bloomberg is reporting that General Motors can't build the reborn bow tie pony car fast enough to quench public demand. That's excellent news for a company that needs a reason to smile, and it could be even better for dealers donning the bow tie. After all, car sales are still firmly in the tank, and GM has seen more than its fair share of shrunken demand.

Dealers have already booked about 25,000 orders for the Camaro, yet only half have been delivered to date. Analysts reportedly told Bloomberg that dealers are getting $500 over sticker on average, too, and at least one dealer is guessing that he won't have a Camaro to sell in stock for at least a year. Bartow Chevrolet in Florida sold its first two Camaros at MSRP, and he's already booked 18 orders.

There is no question that the Camaro has grabbed the attention of the car-buying public, and the debut of Transformers 2 will likely give the pony car another marketing shot in the arm. GM sold 5,463 copies of the Camaro in May, and we're guessing that number will grow as production ramps up.
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Elmo187
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« Reply #22 on: August 10, 2009, 03:37:33 PM »

GM unveils plans for new direction and upcoming cars
Source: Autoblog
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Tomorrow morning at 8:00 AM EST, General Motor's President and CEO, Fritz Henderson, will be hosting a webcast to update the public and the media on the automaker's turnaround efforts, during which Henderson is expected to make a new product announcement.

But ahead of tomorrow's shindig, GM is apparently hosting another event involving some of its PR team, around 100 members of the public and a few social media junkies. Tied to their smartphones, some of the attendees have revealed GM's new product plans and here are the tender Twitter morsels:

  • GM unveiled a new Cadillac concept dubbed the ATS, a compact BMW 3 Series fighter that will be available in both coupe and sedan forms.

  • The Cadillac DTS' replacement – currently named the XTS – will be built atop the Buick LaCrosse's underpinnings and will be available with all-wheel drive.

  • The CTS Coupe is due to arrive this May, and there's still talk of a V version (duh). Apparently GM has a working CTS-V SportWagon on premises and it could arrive as early as next year.

  • New Chevrolet Malibu unveiled, but it supposedly won't reach production until 2012.

  • All-new midsize Buick model coming within the next 24 months.


We'll keep our eye out as more information becomes available, and if you didn't need a reminder, all of this should be taken with the appropriate amount of NaCl until we get official word from GM. Details about GM's webcast available below the fold.

awesome, i've been waiting for a 3-Series rival from Cadillac. good to see they're keeping on with that plan. now only if we knew the powerplant for the V version. i'm gonna take a guess and say the Camaro SS' LS3. it has the right power to take on the M3 (426hp).

the downsizing of Cadillac's flagship was expected. don't really agree with the name change though. but i guess the Deville name's time is long gone.
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LSixer
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« Reply #23 on: August 10, 2009, 04:22:35 PM »

Is this M3 fighter going to be another cavalier rebadged caddy? lmao

Sorry, I still remember that cavalier with cadillac badges on it. They even went as far as to place two of the same taillight on the back of to give it more flash!

I cannot believe people were stupid enough to pay a premium for that car.  
« Last Edit: August 13, 2009, 10:40:06 AM by LSixer » Logged

Elmo187
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« Reply #24 on: August 10, 2009, 05:43:10 PM »

Is this M3 fighter going to be another cavalier rebadged caddy? lmao

Sorry, I still remember that cavalier with cadillac badges on it. They even went as far as to place two of the same taillight on the back of to give it more flash!

I cannot belieev people were stupid enough to pay a premium for that car. 

you mean the Cimmaron? we can just forget about those days. we all know GM was badge engineering every car they had back then. the Cavalier came with Chevy, Cadillac, and Pontiac badges. same goes for the Chevette, Monza, and Sunbird. all three of them had rebadged counterparts. hell, the Pontiac LeMans was a damn Toyota.

i'm pretty sure this won't be another Cimmaron. hopefully it'll have a modified version of the Sigma platform, which is the CTS' platform.
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LSixer
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« Reply #25 on: August 13, 2009, 10:42:40 AM »

Is this M3 fighter going to be another cavalier rebadged caddy? lmao

Sorry, I still remember that cavalier with cadillac badges on it. They even went as far as to place two of the same taillight on the back of to give it more flash!

I cannot belieev people were stupid enough to pay a premium for that car. 

you mean the Cimmaron? we can just forget about those days. we all know GM was badge engineering every car they had back then. the Cavalier came with Chevy, Cadillac, and Pontiac badges. same goes for the Chevette, Monza, and Sunbird. all three of them had rebadged counterparts. hell, the Pontiac LeMans was a damn Toyota.

i'm pretty sure this won't be another Cimmaron. hopefully it'll have a modified version of the Sigma platform, which is the CTS' platform.

Thats exactly what I was thinking of.

Those are the days, or in my mind they were, when they were just trying to save a buck anywhere they could. NO inovation anywhere.

I thought the lemans was a isuzu.
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Elmo187
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« Reply #26 on: August 13, 2009, 01:56:59 PM »

Is this M3 fighter going to be another cavalier rebadged caddy? lmao

Sorry, I still remember that cavalier with cadillac badges on it. They even went as far as to place two of the same taillight on the back of to give it more flash!

I cannot belieev people were stupid enough to pay a premium for that car. 

you mean the Cimmaron? we can just forget about those days. we all know GM was badge engineering every car they had back then. the Cavalier came with Chevy, Cadillac, and Pontiac badges. same goes for the Chevette, Monza, and Sunbird. all three of them had rebadged counterparts. hell, the Pontiac LeMans was a damn Toyota.

i'm pretty sure this won't be another Cimmaron. hopefully it'll have a modified version of the Sigma platform, which is the CTS' platform.

I thought the lemans was a isuzu.

actually, we're both wrong lol. it was a Daewoo.
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LSixer
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« Reply #27 on: August 14, 2009, 09:18:39 AM »

A korean car? 

That was why is was junk. I know we differ on your perception of their quality nowadays, but, you will have to admit, way back then when those were built (the 80's?), korean stuff was crap.  Grin
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Elmo187
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« Reply #28 on: August 14, 2009, 11:10:58 AM »

yes, Korean was real crap back then. the old Ford Festiva was Korean also lol.
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The Dark Knight
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« Reply #29 on: August 19, 2009, 10:30:33 AM »

in Australia!!!
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It's sad enough that the dizzying, platform-sharing, don't-call-it-rebadging upcoming product extravaganza General Motors unveiled to the Twitterati and media last week did not include the terms Zeta, Pontiac, G8, or any derivative thereof, but if a new report out of Australia is accurate, Holden is about to pour salt in America's wound – with an iodine chaser. Carsales.com.au claims to have an internal Holden memo stating that our friends Down Under will not only be able to purchase a Pontiac G8 SS-V sedan, but Wagon and Ute variants as well. (SS-V is the equivalent trim level to the U.S.-market G8 GT.)

These final Pontiac G8s will reportedly be offered through Holden dealerships (natch) as special limited-edition models. The reason? Simple: a final run of G8s made specifically for the Aussies will allow Holden to clean out some of the remaining Pontiac G8 part stock it currently has sitting around with nowhere to go. Dealer sources told Carsales.com.au that they expect the total run to be in the neighborhood of 1,500 cars, with the breakdown split fairly evenly among the three body styles.

Pontiac G8: the car that didn't deserve to die, that no one wants to see die, and that, so far, refuses to die quietly.
[Source: Carsales.com.au]
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