GMAC loses $1.3 Billion in Q4 2008

Now that’s GMAC, not GM itself.  GMAC, of course, is partially owned by GM and Cerberus ( who also owns the majority stake in Chrysler – confused yet? ) Though losing $1.3 Billion is significant in and of itself, perhaps even more significant is the drop-off in business.  Q4 2007 saw GMAC write $13.4 billion [...]

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GM Prices Silverado Hybrid & Sierra Hybrid

The soon-to-be released 2009 Silverado Hybrid and Sierra Hybrid finally have a price tag to go with the improved fuel economy.  The 2009 Sierra Hybrid will have a base price of a cool $39,365.  If you want the decked out 3HB version with leather, Bose, and rear sonar, be prepared to pony up a stunning [...]

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GMAC shuts down auto loan business

Effectively, anyway.  From today forward, no one will get a GMAC auto loan if their credit score is under 700.  Furthermore, GMAC will no longer write auto loans above invoice.  As a final blow to GM dealers, GMAC will tighten up their standards further for long terms.  In other words, GMAC will pretty much stop [...]

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GM on the fast road to Chapter 11

GM vehemently denies any bankruptcy rumors.  And that’s just what they’re supposed to do.  If the public thinks they’re going bankrupt, investors will begin selling in droves, their share price will tank, and the public will be even more hesitant to buy GM cars and trucks.  Wagoner and Lutz will lie with a straight face [...]

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Domestic Automakers Crying about CAFE Again

Why is this news, exactly?  Well, Toyota’s crying too, if that makes a difference.  The Big 2.5 plus Toyota are bitching and crying about CAFE.  Their latest angle?  According to their department of made-up statistics, the new CAFE regulations will cost 82,000 jobs.  Yep, by forcing automakers to actually make fuel-efficient vehicles that people can [...]

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GM Extends 0% Financing, Huge Rebates

Though I wrote yesterday that the $7,000 Hummer H3 rebate was coming to an end, GM decided to go and prove me wrong.  It seems they aren’t too happy about the 50%+ drop in sales over on the Hummer side.  To try to help things along, they’ve decided to extend that $7k rebate through the [...]

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GM wants $7k Tax Credit for Volt

However, if John McCain becomes the next president ( unlikely at this point ), he’ll push for a $5k credit.  I’d love to see a big, fat tax credit on the Volt, since the MSRP keeps spiraling upward as the deadline approaches.  If GM wants to actually sell any of these cars, a big tax [...]

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GM and Ford in for more hurt

Ford has decided to shut down the plant that builds the Expedition and Lincoln Navigator.  For nine weeks.  That’s some serious downtime in the automotive world.  Nine weeks that Ford won’t build two of it’s most profitable units.  No, there was no fire or safety incident at the plant.  No sir, that little thing called [...]

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