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Filed under: SUVs , GM , HUMMER , Earnings/Financials General Motors is moving full steam ahead on its hopeful sale of HUMMER, moving to make a decision on the SUV marque "as quickly as practical." Shortly after appointing Jim Taylor to the head of the brand, the automaker has contacted interested parties with a full sales prospectus. By now, you're surely aware that sales of the gargantuan 'utes are very slow, posting declines of over 50-percent so far this year. No surprise then that the General would be anxious to get the former military-spec brand off its books. Though GM claims it is not necessarily committed to selling the marque, we're not so sure they have many other options. An entire revamp of the HUMMER line would use up precious resources that would surely be better spent on more fuel efficient, forward thinking products like the Chevy Volt, Cruze and Orlando. In any case, look for an announcement regarding the brand's future in short order . Thanks...
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Filed under: SUVs , HUMMER , Earnings/Financials HUMMER, a brand that has seen its sales drop by a shocking 40% so far this year, is apparently burning an SUV-sized hole in General Motors' pocket. Main money-man at the biggest American automaker, Fritz Henderson, says that GM wold like to rid itself of the brand as quickly as possible, saying that its sale is being approached "on an urgent basis." The time frame given was by the end of this year or early 2009 for a completed transaction. So, who would want the brand that represents wretched American excess? We have no idea, but it seems that somebody does as Henderson reiterated that the General's been approached by multiple suitors. Interestingly, these comments were made in India, a country that had previously been rumored to have two separate bidders for the HUMMER brand. Considering the growing sentiment for small cars in the U.S., it wouldn't be surprising to see HUMMER sold to a company that does most of its...
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Filed under: SUVs , Hirings/Firings/Layoffs , Plants/Manufacturing , Dodge , Jeep , Earnings/Financials Jeep sales are down. They're way down , in fact, posting a 44-percent drop in their daily sales rate last month. Though the larger 'utes are really dragging down sales, even the once-untouchable Wranger has been feeling the sting of escalating fuel prices, as its blocky shape and 3.8-liter V6 engine conspire to deliver awful fuel mileage. Also selling rather slowly are the Jeep Liberty and Dodge Nitro, which are assembled at the same plant in Northwest-Ohio. In an effort to save costs, Chrysler officials are considering reducing the work-week at the Toledo plant from the normal five days down to four and allowing its workers to stay on for ten-hour shifts. While that total still equals the forty-hours from a five-day, eight-hour per day work-week, Chrysler believes it can save on energy and fuel costs by shuttering the plant for an extra day. [Source: 13abc.com ] Read | Permalink...
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Filed under: Car Buying , SUVs , Chrysler, LLC. , Dodge , Jeep , Earnings/Financials The automotive sales sector is in a major state of flux as consumers continue to run from SUVs and pickup trucks into smaller, more fuel efficient cars. One manufacturer hit especially hard by this transition is Chrysler, a company that recently posted the worst fleet average fuel economy numbers of all major automakers in the U.S. due to its truck-heavy lineup. Still, the automaker has built up a large supply of Chrysler, Dodge and Jeep utility vehicles that they have got to get off dealer lots somehow. To ease consumers into the fuel-thirsy utes, Chrysler has introduced new incentives of zero-percent financing for 72 months on the 2008 Dodge Durango, Chrysler Aspen and Jeep Grand Cherokee and Commander. While the lack of any financing charges will certainly impact the bottom line, it is nothing compared to the losses the automaker has been hit with over its past lease deals. In fact, truck and SUV residuals...
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Filed under: Car Buying , SUVs , Trucks/Pickups , HUMMER , Earnings/Financials Click above for a high-res gallery of the HUMMER H3T. To say that HUMMER's launch timing for the H3T sport-utility-truck couldn't be worse seems like an understatement. Trucks which had been flying out of showrooms just a few short years ago are now languishing on dealer lots. What's more, the entire HUMMER brand could get the axe any day now from ( current ) parent company General Motors. Still, the H3T is coming to a dealer near you in September , and there's nothing that the General can do but price it competitively and hope for the best. We've got some detailed pricing information pasted after the break, but the short version is that the five-cylinder base model, which comes standard with a five-speed stick, will go for $31,495 and be equipped with the expected four-wheel drive along with 32-inch tires and a clothe interior. Upscale Alpha models get upgraded with the 5.3L V8 hooked to...
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Filed under: SUVs , Trucks/Pickups , Hirings/Firings/Layoffs , Toyota , Earnings/Financials Toyota posted a 10% sales decline for its bread-and-butter brand of over the month of June, with numbers that are even worse -- an 11.5% drop -- when the Scion and Lexus brands are added into the equation. In response to these very un-Toyota-like sales declines, the automaker is now revamping its vehicle production in the States. Though it has already introduced measures to slow the production of full-size Tundra trucks and Sequoia SUVs, reports indicate the further cuts will be made at the San Antonio truck plant. The Indiana plant, which also produces Tundras, will see workers transferred to other lines where more popular vehicles are assembled. Even plants in Japan that export vehicles to the U.S. could be affected. Toyota is hardly used to seeing double-digit drops in sales in the U.S., so it will be interesting to see how the giant Japanese automaker responds in the months to come. [Source:...
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Filed under: Trends , Minivans/MPVs , SUVs , Hirings/Firings/Layoffs , Plants/Manufacturing , Chrysler, LLC. , Dodge , Jeep , Earnings/Financials Click above high-res gallery of the 2008 Dodge Grand Caravan SXT Now that General Motors and Ford have completely abandoned the minivan market for good, the American originator of the species faces only Honda, Toyota, Nissan, Kia and soon Volkswagen as manufacturers that also offer competitive choices. Perhaps you'd think that Chrysler would be benefiting as the only domestic automaker currently playing in the segment, but it seems that sales are down this year by 13 percent for the Chrysler Town and Country while the Dodge Grand Caravan is down an alarming 35 percent. High gas prices are the obvious reason why the minivan market is seeing such a harsh downward trend, and likely the culprit behind Chrysler's impending move to idle its St. Louis South minivan plant as early as December, which would leave some 1,500 employees jobless. Utility...
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Filed under: SUVs , HUMMER , Earnings/Financials , Military , India General Motors is already having meetings with its dealers regarding all the possibilities for its HUMMER brand. According to reports, there are several companies interested in making a purchase of the military-inspired vehicles, though Tata Motors now appears uninterested despite earlier reports. One suitor is said to be Mahindra & Mahindra, the Indian company that plans on making a big splash entering the American market itself over the next few years. Just-Auto quotes an unnamed official at the company who says "Mahindra is very keen on acquiring the Hummer." Hmm... Isn't it interesting how one little word can change the meaning of an entire sentence. Anyway, Mahindra already produces a vehicle that shares an eerie resemblance to the original GI-spec HUMMER that it sells to the Indian military. Currently, the vast majority of Hummer sales are made in the States, but Mahindra doesn't sound worried...
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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: Economy , Sedans/Saloons , SUVs , Trucks/Pickups , Crossovers/CUVs , Ford , Honda , Earnings/Financials Click above for high-res gallery of the Ford Explorer America Concept For years, the success of vehicles such as the Ford F-Series pickups and Explorer SUV kept the Blue Oval brand from improving its line of mostly uncompetitive sedans. Automakers like Honda, though, never went the way of body-on-frame trucks and SUVs, preferring instead to continually improve its range of cars and crossover utility vehicles. That strategy is paying dividends in these days of high fuel prices, and Ford has taken notice. Asked whether he would prefer a more car-oriented model-mix, like that of Honda or Toyota, CEO Alan Mullaly recently answered, "Absolutely. We just don't have enough of those small or medium-sized vehicles yet, and that's what we need to concentrate on." Of course, all is not lost. As Automotive News points out, Ford has a new F-150 on the horizon, which...
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Filed under: Sedans/Saloons , SUVs , Trucks/Pickups , Toyota , Earnings/Financials The current economic environment in the United States is hurting all auto makers these days, even mighty Toyota , which was once considered immune to so-called market realities. Though its overall performance last year would be considered a stellar achievement for any other automaker, Toyota's 28% profit plunge in the fourth quarter of 2007 points to an expected 27% drop in annual profits in 2008. If Toyota's revised forecast proves accurate, 2008 would break a nine-year stretch of profit growth. In addition to the slowing U.S. market, Toyota also cites high material prices, the worldwide credit crunch and a strong yen as contributing factors in its mild downturn. Toyota's expected profit drop is certainly newsworthy, but we just have to wonder how the money-losing American car companies will cope in the U.S. market with the same issues. While sales of cars are gaining strength, the SUV and truck...
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Filed under: Motorsports , Sports/GTs , SUVs , Supercars , Earnings/Financials , Spyker Click above to view high-res gallery of the Spyker C8 Aileron For such a small manufacturer of specialty vehicles, Spyker hemorrhaged a huge amount of money last year; 72.075 million euros ($113.07 million at current exchange rates), to be exact. Part of this loss was due to the sale of its Formula 1 operations, but their car-selling business managed to cost them a few million more. Money was so tight that the Dutch supercar company only managed to assemble 26 cars last year -- only two in the final quarter, despite the waiting list for their wares. Good news is on the horizon, though, as Spyker has received a cash-infusion from Snoras Group, a Lithuanian bank (and now the largest shareholder in the company), and is again up-to-speed on automobile production. The long-wheelbase C8 Aileron , along with its new automatic transmission, is scheduled to go on sale in the third quarter of this year, while...
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Filed under: SUVs , Crossovers/CUVs , Chrysler , Earnings/Financials The Jeep Wrangler Unlimited, Compass , and Patriot are helping Chrysler defend its market share in a declining sales environment. Between these new models and incentives on Dodge and...
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