GM Expects Return to Profitability by 2011
January 8, 2009
General Motors may be down, but they sure aren’t out. Despite being already under bankruptcy protection and the government owning 60 percent of the company,the struggling US car manufacturer is expecting to bounce back into profitability by 2011, according to data from court papers.
Financial advisers Evercore Partners expect GM to lose somewhere around $17.5 billion this year before some $3 billion in profits come around in 2011. Those profit figures are based off an assumed rebound for the US auto industry, where sales are pegged to rise to 16 million vehicles annually—some 6 million units better than current industry rates.
Evercore also projected that GM will be increasing annual vehicle production from 3.8 million units in 2009 to a whopping 6 million units by 2014.
Even with all the ext year seems light years away, as GM is still in the middle of its bankruptcy where some 20,000 workers in the US are expected to lose their jobs. GM is also busy trying to sell some of their underperforming brands, including Saab and Saturn—both of which could have new owners sooner rather than later.
GMC to Debut New Terrain Crossover at New York Show
January 6, 2009
General Motors has come up with its bet to compete in the compact crossover segment: The new GMC Terrain, scheduled to be unveiled at next week’s New York Auto Show. With considerable fuel-economy and jam-packed with features, GM is hoping that the Terrain can be a force in the competitive crossover market.
A 2.4-liter direct-injection engine banners the available engine configurations. It offers the best mileage for the Terrain, with highway efficiency at 30 mpg. Trying to get to this mileage isn’t automatic, though. Drivers still have to use the “ECO” mode, but at least they only have to push a button. There’s also a 3.0-liter 264hp engine with direct injection. Both have six-speed transmissions and available on either FWD or AWD configurations.
The Terrain is loaded with features, including a powered liftgate, rear-view cameras, Bluetooth connectivity, a seven-inch display, hard-drive satnav system, and OnStar and XM Satellite Radio.
Sales of the new 2010 GMC Terrain should start in mid-2009.
Source: Motor Authority
Melbourne 2009: Holden Reveals Volt
January 1, 2009
In perhaps one of the odder unveilings at the 2009 Melbourne Show, Holden revealed its localized version of the Volt plug-in electric car—with only photoshopped images of the multi-awarded Chevrolet Volt from which Holden derived its model.
The Holden Volt takes the same plug-in hybrid power supply from the Chevrolet, allowing it to go 40 miles just on battery power, after which the conventional 1.4-liter four-cylinder engine starts to power a generator that feeds further electrical power to the batteries or to the electric motor. This setup disqualifies the Volt from being a hybrid, since electric power drives the wheels at all times. GM refers to it as an E-REV, or Extended-Range Electric Vehicle.
Mark Reuss, GM Holden Chairman and Managing Director, said that the company believes the car “will play an incredibly important role in (Holden’s) efforts to make motoring better for the environment.”
The image of the Holden variant shows a right-hand drive with Holden badges on the grille and at the rear. The Australian variant of the Volt is not expected to see release until 2012. With such positive interest in the car, however, look for GM to get the Holden Volt off the production lines sooner rather than later.
Source: Holden
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