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Filed under: Etc. , Plants/Manufacturing , Chevrolet , GM , Earnings/Financials Giveth, and taketh away, isn't that always the story? On the taketh away side, GM has recently lost a serious chunk of change. On the giveth side, The General received a $56 milion package of tax credits and grants to keep an SUV factory open in Ohio. It has also just received another package of tax credits from the city of Flint, Michigan to aid its investment in a factory that will build engines for the new Volt and Chevy Cruze. Approved over some constituent disapproval by the Flint City Council, getting GM to build the factory there will keep 300 jobs in the city. GM is now looking to the state of Michigan for more tax incentives. [Source: Detroit News via Green Car Congress ] Read | Permalink | Email this | Comments
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Filed under: China , Cadillac , Chevrolet , Ford , GM , Earnings/Financials , By the Numbers While domestic sales continue to slide, the auto market in China is thriving. Both General Motors and Ford have reported double-digit sales growth for the first-half of 2008 in the world's most populace country, with GM moving 590,126 Buick, Chevrolet, and Cadillac vehicles for a total sales increase of 12.7 percent, while Ford sold 172,411 units for 21 percent jump in growth. With China recognized as the second-largest vehicle market outside the United States, and with their economy forecasted to grow by at least nine percent this year, automakers in Europe, Japan, and the U.S. are investing heavily to expand sales and production in the Chinese market. It is worth noting that vehicle sales in China have been nearly immune to the increase in global oil prices as governmental controls keep diesel and gasoline prices among the world's lowest. [Source: Detroit News ] Permalink | Email this...
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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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Filed under: Car Buying , Trends , Hybrids/Alternative , SUVs , Trucks/Pickups , Green , Chevrolet , GM , GMC , Earnings/Financials click above image for a high-res gallery of the Chevy Tahoe 2-mode Hybrid We've been waiting for General Motors to step up to the plate with its own incentives now that Ford has offered employee pricing on its F-Series trucks and Dodge has offered $2.99 fuel to go along with its various incentives for the Ram. It seems that GM has finally anted up and increased the incentives for the Silverado, Avalanche and Sierra trucks, along with the Tahoe, Yukon, Escalade and Suburban. The pickups all get $2,000 in customer cash to go along with an extra $3,000 if you already own a GM product for a total of $5,000 total off the sticker price. Those shopping for an SUV will even get an extra grand. In what may be an even larger sign of the times, for the first time ever GM's hybrid Tahoe and Yukon get $4,000 off, but only if you already own a product from the General...
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Filed under: Car Buying , Trucks/Pickups , Plants/Manufacturing , Chevrolet , Ford , Toyota , Earnings/Financials Could the reign of Ford's F-Series atop the sales charts in the U.S. come to an end? Some believe that it could indeed happen , and it's not even another pickup truck that is threatening the Blue Oval's bread-and-butter full-size pickup, it's the Toyota Camry. Let that sink in for a moment... alright, let's continue. The Camry already posted better sales numbers than the Chevy Silverado, the perennial second-best seller to the F-Series, for the month of April. In fact, the Silverado suffered a sales drop of 24.7 percent to 37,231 units while the Camry grabbed 40,016 sales in the same month. Still, even after the Camry's great sales month, the Silverado holds the edge when the entire year-to-date sales numbers are compiled, and the F Series still sits atop the list for now. Consider too that the Ford truck will get a major redesign for the upcoming model...
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Filed under: Car Buying , Buick , Chevrolet , GM , GMC , HUMMER , Pontiac , Saab , Earnings/Financials Yesterday we wrote about GM's intent to shrink its 14,118-strong dealer network , with one idea to combine Pontiac, Buick, and GMC dealers into larger, more modern flagship outlets. Turns out that was only part of the plan: according to Automotive News , "General Motors is preparing to make public a plan to encourage the creation of superstores in major metro areas that would carry every GM brand." These superstores, which would be called GM Collections, are being evaluated for major metropolitan markets where the real estate itself is more valuable than the dealer franchise. For dealers interested in such an outlet, GM's idea is to move service and parts centers off-site to make room for all of the brands. Some dealers think that's a turn-off for consumers, others report good results. In LA, this has been standard practice for a while, with some service departments...
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Filed under: Car Buying , Buick , Chevrolet , GM , GMC , Pontiac , Toyota , Earnings/Financials At the end of World War II, GM "put a dealership in every little hamlet" to keep up with the postwar boom. Sixty years later, in 2005, long after that boom had ended and every domestic maker was losing market share, GM had 15,094 dealerships. By 2007 GM had reduced that to 14,118 dealers. But if GM plans to compete financially with its overseas competition, it will need to shrink that number a great deal further. Chevrolet has 4,000 dealerships. Toyota, to sell the same amount of cars, has just 1,244 dealers. Put another way, the typical Toyota dealer moves 1,766 cars per year. The typical Chevrolet dealer moves 554. And the other domestics fare about the same: the usual Ford dealership rolls 556 vehicles off the lot every year, while a Dodge dealer does 374 per year. GM is looking at consolidating Pontiac, Buick, and GMC shops into one. However, state franchise laws don't make...
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Filed under: Car Buying , Trucks/Pickups , Chevrolet , Dodge , Ford , GM , Nissan , Toyota , Earnings/Financials While the big news story surrounding 2007 sales is that Toyota passed Ford as the No. 2 best-selling automaker in the U.S. last year , there were plenty of interesting battles happening between individual models, as well. The truck segment, though shrinking, is still the most competitive in the U.S. market, and 2007 saw the most serious challenge yet to the domestics' market dominance with the introduction of the 2007 Toyota Tundra. While the F-Series pickup retained its title of Best-Selling Truck for the 31st year in a row (also the Best-Selling Vehicle in the U.S. for the 26th year in a row), its sales fell 13.2% to 690,589. And to think, the F-Series' best-selling year ever was just three years ago in 2004 when it sold 939,511 units. Give the F-Series credit, however, for retaining its No. 1 position despite a brand new Chevy Silverado and GMC Sierra on the market...
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Filed under: Car Buying , Etc. , Earnings/Financials It was the best of times, it was the worst of times - it was 2007. Topping the sales figures for the year that almost was are mainly service vehicles, while the more ostentatious, less useful cars round out the bottom-feeder roster. Family cars at the top and niche cars in the basement doesn't tell the entire story, though. Yes, there are some cars that you expect would sell in small volumes. Sporty things like the Porsche Boxster, Vette-in-drag Caddy XLR , blob-tacular Lexus SC430 , and Audi A8/S8 über-sedan all sold in expected tiny numbers for such specialized machinery. Rounding out the nadir of automotive sales, you'll find nearly every Jaguar model, and some dead-on-the-vine products like the Mazda B-series pickups (Ford Ranger) and Isuzu Ascender (Chevy Trailblazer). Hit the jump to read more, and see the list [Source: Motor Authority] Continue reading MSNBC names the best and worst selling of 2007 Read | Permalink...
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