Obama Rejects GM and Chrysler's Viabilty Plans…No More Poor Decisions!
President Obama has just finished his press conference regarding the government's decision on the viability plans that were submitted by GM and Chrysler on February 17th after they received $17.4 billion in loans. “Neither goes far enough to warrant the substantial new investments that these companies are requesting,” Obama said. “They must produce plans that would give the American people...
BREAKING NEWS: GM's Rick Wagoner Steps Down!
It's official Rick Wagoner has stepped down from his post as the CEO of GM. As a request from the government, Wagoner is going to be replaced by Fritz Henderson immediately. The Obama administration requested Wagoner's departure as part of the rescue plan. Wagoner was named president and CEO in 2000, and assumed the role of chairman in 2003....
Cadillac Reportedly Pulling Out of Half of Europe
There's more bad news for Cadillac fans in Europe. Yesterday it was reported that GM had stopped plans to introduce a much needed V6 turbodiesel for Cadillac in Europe. Today it looks like GM has decided to pull Cadillac out of half of Europe. GM has decided to halt Cadillac sales in half of Europe following the collapse of its...
2010 VW Golf GTD Unveiled with 170 HP and 44 MPG
VW has unveiled the Golf GTD, which is the equivalent of a sporty GTI, but with a diesel engine. The VW Golf GTD is powered by a 170 horsepower diesel engine that can be mated to either a 6-speed manual or an optional 6-speed DSG transmission, just like the GTI. It accelerates from 0-62 mph in 8.1 seconds, has a...
Tesla Model S Fits Seven, Start's Under $50K and Travels up to 300 Miles
Tesla has officially unveiled the Model S, which can seat up to five adults and two children and can travel up to 300 miles on a single charge. The Model S will be the world's first mass produced electric vehicle. It has a range of 300 miles and only takes 45 minutes to recharge. It can also be recharged from...
More than 7,600 GM Workers Take Buyout Offer
General Motors announced today that 7,631 United Auto Workers have accepted early retirement and buyout offers. The buyout will allow GM to cut costs and hire new, less expensive workers. "This is a significant milestone of progress towards our restructuring plan," said GM Spokesman Tony Sapienza. "There is more work to do, but this will help us become leaner and...
Mazda is Working on a Diesel to Go Head to Head with Hybrids
Mazda announced today that it is working on a new diesel engine that will be as fuel-efficient as some hybrids in 2011 as part of its plans to improve fuel mileage without the aid of expensive electrical systems. Mazda has set a target of raising its global car fleet's fuel economy by 30 percent by 2015. It plans on doing...
BMW Z2 Gets the Green Light for Production…Expected in 2012
It's been rumored for a while that BMW has been working on a smaller roadster that will be dubbed the Z2 and according to AutoBild, BMW executives have now given the small roadster the green light. The Z2 will be based on the 1 series and will be offered as a roadster and a small coupe, just like the...
GM Kills Plans for a Diesel Engine for Cadillac in Europe
Cadillac has been struggling to gain traction in Europe. A much needed diesel engine, which would have made Cadillac more competitive in Europe has now been canceled. Cadillac was expected to receive a 2.9-liter V6 turbodiesel that was developed with and was to be manufactured by Italian diesel-engine expert VM Motori S.p.A. According to division spokesperson Joann Krell the diesel...
Hyundai BLUE-WILL Concept Headed to Seoul Motor Show
Hyundai is going to unveil the BLUE-WILL concept car at the Seoul Motor Show next week. Hyundai's new plug-in hybrid concept car features a 1.6L direct-injection engine, which is mated to a CVT and a 100kw electric motor. The concept also features lithium-ion batteries that are located under the rear seat. The concept also features dye-sensitive solar cells, which can...
