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Filed under: Chevrolet , GM You can never be certain about the information you get from fourth-hand, unconfirmed sources. General Motors will be releasing its third quarter financial results this morning, and it will be ugly for sure. Rick Wagoner will also be announcing more cuts that will likely include layoffs among engineering staff. GM is expected to cancel or delay almost all future product plans in an attempt to staunch its current cash burn rate. One of those aforementioned fourth-hand sources told another website last night that the Chevy Volt is among the programs on the chopping block. AutoblogGreen contacted GM's Volt spokesman Rob Peterson, who stated that "there's no truth in that statement whatsoever" regarding the story that appeared on Jalopnik. Chevrolet spokesman Terry Rhadigan also said "I'm not going to respond to specific speculation. The Volt remains a top priority for our Company and there are no changes to the timing of the program."...
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Filed under: Chevrolet , GM You can never be certain about the information you get from fourth-hand, unconfirmed sources. General Motors will be releasing its third quarter financial results this morning, and it will be ugly for sure. Rick Wagoner will also be announcing more cuts that will likely include layoffs among engineering staff. GM is expected to cancel or delay almost all future product plans in an attempt to staunch its current cash burn rate. One of those aforementioned fourth-hand sources told another website last night that the Chevy Volt is among the programs on the chopping block. AutoblogGreen contacted GM's Volt spokesman Rob Peterson, who stated that "there's no truth in that statement whatsoever" regarding the story that appeared on Jalopnik. Chevrolet spokesman Terry Rhadigan also said "I'm not going to respond to specific speculation. The Volt remains a top priority for our Company and there are no changes to the timing of the program."...
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Filed under: Hybrids/Alternative , Sedans/Saloons , Green , Chevrolet , GM , Earnings/Financials Sales of General Motors' one time cash cow, full-size trucks, are declining faster than the value of the US dollar, but with a birthday coming, GM still wants something to celebrate. This September, the world's largest automaker will be celebrating its centennial under a financial pall unlike any it has faced since its early days under Billy Durant. The car that GM management hopes will represent a new beginning is the Chevrolet Volt, which has been locked in for production for November 2010 and the shape of the production car has reportedly been finalized. The Volt team is apparently planning to unveil the definitive Volt shape as the star of the big party this September. Early powertrain development mules have been running for several months now and GM insiders claim the lithium ion battery packs are exceeding performance expectations so far. The big question at this point seems to...
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