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HERE IS THE PAGE WHERE YOU CAN GET ALL THE "LATEST DOPE" ON GM, NEW CARS, INSIDE NEWS, & CLASSIC DESIGNS.
GM
shows net income of $856 Million in Q1.
DETROIT, Mich. –
General Motors Company today announced its first quarter 2010 results,
marked by revenue of $31.5 billion and operating income of $1.2 billion.
Net income attributable to common stockholders was $0.9 billion,
resulting in earnings per share on a diluted basis of $1.66.
GM’s
first quarter adjusted earnings before interest and tax (EBIT) was $1.7
billion, after adjusting for the favorable impact of the sale of the
Saab brand.
GM North America had EBIT in the first quarter 2010
of $1.2 billion, up from a loss of $3.4 billion in the fourth quarter
2009. GM Europe had a loss before interest and taxes of $0.5 billion; an
improvement of $0.3 billion from the fourth quarter. GM International
Operations posted EBIT of $1.2 billion, up $0.5 billion from the fourth
quarter.
Cash flow from operating activities was $1.7 billion and
after adjusting for capital expenditures of $0.7 billion, free cash
flow was $1.0 billion. GM ended the first quarter with $35.7 billion in
cash and marketable securities, including funds in escrow.
“We’re
pleased with our first quarter performance, in particular achieving
profitability,” said Chris Liddell, vice chairman and chief financial
officer. “In North America we are adding production to keep up with
strong demand for new products in our four brands. We’re also steadily
growing in emerging markets, keeping our costs under control, generating
positive cash flow and maintaining a strong balance sheet. These are
all important steps as we lay the foundation for a successful GM.”
STINGRAYSSTUDIOS.COM DESIGNS 2011 SEMA GM CONCEPT ; CHEVY SUPER SPORT
^ CLICK ABOVE FOR MORE ON THIS EXCITING NEW CONCEPT CAR !!!
^ GM SAYS IT WILL BRING OUT A NEW CHEVY IMPALA IN 2012 & THE CURRENT IMPALA WILL GET A "FACELIFT" VERY SOON, THE NEW IMPALA WILL BE A LARGER FAMILY SEDAN & THE MAILBU WILL BE MADE A BIT SMALLER SO THAT THE TWO DESIGNS WILL COMPLIMENT EACH OTHER IN THE CHEVROLET MODEL LINEUP.
BUY A PHOTO PRINT RIGHT NOW OF THE 2012 IMPALA CONCEPT YOU SEE ABOVE, JUST CLICK ON THE BUY NOW BUTTON :
GM e-concept 4 design takes the Chevy VOLT drive train technology into larger automobiles for production now :
^ CLICK ABOVE FOR MORE ON THE ELECTRIC CAR REVOLUTION !!
Think of the Opel Flextreme GT/E concept as a bigger Chevrolet Volt (or
Opel Ampera if you're European). The idea behind this concept, which
will debut at the Geneva Motor Show, is to show how the Volt's
extended-range electric vehicle drivetrain can be used in a larger
vehicle, in this case a mid-size five-door hatchback. So far, every
vehicle shown by General Motors with an ER-EV drivetrain, including the
Volt, Ampera and Cadillac Converj concept, has been compact in size.
By paying attention to aerodynamics, the Flextreme GT/E still achieves
a low 0.22 coefficient of drag despite its bigger dimensions and large
21-inch wheels. It even employs active aerodynamics in the rear where
panels extend out from the air extraction slots behind the rear wheels
at speeds above 50 km/h (31 miles per hour). Opel also used carbon
composite panels for the body and aluminum for the vehicle structure to
keep weight down.
Powered by an electric motor producing 120 kW and 273 pound-feet of
torque, the Flextreme GT/E is augmented by a 1.4-liter four-cylinder
gas engine/generator. It will travel 37 miles on battery power alone
before the generator kicks in to supply electricity to the motor, at
which point its range extends to 311 miles. CO2 emissions are kept
below 40 g/km and Opel pegs fuel consumption at 1.6 liters/100 km
(about 147 mpg U.S.).
Opel Developing New Coupe for 2013; Would it Fly
as a Buick or Chevy?
 |
The GTC, which stands
for Gran Turismo Coupe, was first
unveiled at the 2007
Geneva Motor Show. The rakish two-door features a
unique front end with tall, vertical air inlets that unite with the
headlights along with a distinctive crease implanted on the rear of the
car. Sitting beneath the hood is a turbocharged, 2.8-liter V-6
responsible for delivering 300 horsepower to the concept's six-speed
manual transmission and electronically controlled all-wheel-drive system
(with rear-wheel bias).
Does all this get the blood flowing?
Well, the Opel and Vauxhall production variation hasn't been formally
confirmed yet but it would likely share some design cues with the GTC
concept. What we do know is that the coupe is being designated the "New
Calibra" in-house -- in remembrance of the 1990s Calibra coupe -- and it
would join the Insignia
lineup.
Before Opel can really get into the new product,
however, the General Motors brand has some bigger issues to resolve. GM's
European division is currently awaiting a $1.89 billion loan from the
German government to help keep the company afloat. A decision is
expected by the end of this month.
If the federal funds
trickle in and no major mishaps happen along the way, we could
potentially see the production version of the "New Calibra" in early
2013. There is a catch. Opel and Vauxhall will reportedly need to build
around 30,000 units per year to break even, and that would be where our
domestic Buick and Chevrolet marques step in.
"We would feel a
lot more confident about some of these projects if Buick, Chevrolet in
North and South America and Saab were sharing volumes and risk," said CAR’s
mole at GM Europe headquarters.
Because the new coupe rides on
Insignia underpinnings, it would be reasonable to expect the Buick
embodiment to utilize the Regal
nameplate. A Chevy manifestation could slide into the Malibu
range and return a two-door model to the line for the first time since
the early 1980s. We wouldn't place too much hope on that 300-horsepower
V-6 though, especially with the newly
confirmed Regal GS.
What do you think? Would the return of a
two-door Buick Regal (last offered in the 1990s) and Chevy Malibu be
advantageous for GM?
Source: CAR
|
Read more:
http://wot.motortrend.com/6681834/we-hear/opel-developing-new-coupe-for-2013-would-it-fly-as-a-buick-or-chevy/index.html#ixzz0oacCLfpX
By David Bailey and Soyoung Kim
!!- UPDATE - FRITZ IS BACK !...GM has "hired" Henderson as a Consultant !
( more on this story to follow soon )...:
DETROIT, Dec 1 (Reuters) - General Motors Co's [GM.UL]
chief executive, Fritz Henderson, abruptly resigned on Tuesday,
after the company's board decided it wanted to chart a new
course for the restructuring automaker.
Henderson was asked by the board to step down at a meeting
in Detroit after being on the job for just eight months,
according to a person with direct knowledge of the matter.
GM Chairman Ed Whitacre, 68, will become interim chief
executive as the automaker begins an immediate search for a
replacement, the company said.
The announcement of Henderson's sudden departure
underscored the tough oversight being exerted by a slate of new
GM directors led by Whitacre and selected by the automaker's
majority shareholder, the U.S. Treasury.
Henderson, 51, became CEO in March after his predecessor,
Rick Wagoner, was forced out by the Obama administration as
part of the U.S. government-funded restructuring of GM.
"The board decided -- and Fritz agreed -- that given where
we are, it was time to make some changes," GM spokesman Chris
Preuss said at a hastily arranged news conference.
Whitacre, a former AT&T chief executive, became
chairman of GM in July as part of a new board vetted by the
U.S. Treasury and intended to safeguard the government's $50
billion investment in the automaker.
The U.S. government has a majority stake in GM, but the
Obama administration has repeatedly said that it is leaving
oversight of the company to Whitacre and the board.
"This decision was made by the board of directors alone.
The administration was not involved in the decision," a White
House spokeswoman said.
WHO'S NEXT?
Whitacre, who became the public face of GM in its first ad
campaign after bankruptcy, appeared briefly before reporters at
GM's headquarters in Detroit but did not take questions on why
the board had chosen to part ways with Henderson.
Whitacre said Henderson, who helped GM through its July
bankruptcy, had "done a remarkable job in leading the company
through an unprecedented period of challenge and change."
"While momentum has been building over the past several
months, all involved agree that changes needed to be made,"
Whitacre said.
Whitacre, a plain-spoken Texan who said he knew nothing
about the auto industry when he became GM chairman, has
surprised GM insiders by making unannounced plant visits and
putting blunt questions to workers at all levels.
With his move to become GM's interim CEO, all three U.S.
automakers are now headed by outsiders to Detroit.
Whitacre has complained that pay restrictions imposed on GM have made it hard to hire external talent, but the board will likely look for an outsider who can better sell the vision of a revived GM, analysts and industry executives said.
"Whitacre wants an outside CEO. He's looking for another
Alan Mulally," said Logan Robinson, a longtime auto industry
executive and professor at the University of Detroit Mercy
School of Law.
Henderson, a career GM executive, had vowed when he became
CEO to reform the slow-moving culture that contributed to the
automaker's collapse.
But GM's faltering efforts to sell off its laggard brands
dominated Henderson's short tenure and tarnished his reputation
as a deal maker and raised questions about the company's
strategy.
First, Detroit-based dealership group Penske Automotive
Group (PAG.N) pulled out of a deal that would have had it
acquire GM's Saturn brand in late September.
Then last month, GM's board shifted course on a planned
sale of the company's European Opel unit, rejecting a deal that
Henderson had backed and helped broker.
In the most recent setback, Swedish luxury car builder
Koenigsegg dropped a planned acquisition of GM's Saab brand.
Last month, in statements that some read as an implicit
rebuke of Henderson, Whitacre seemed to question the aggressive
timetable for an initial public offering of GM stock that had
been outlined by Henderson.
"At the end of the day, it seems a little bit inevitable,"
said David Bitterman, managing director at Huron Consulting.
"Obviously, Whitacre and Fritz didn't envision the new GM in
the same way."
GM shakes up leadership
Several managers to leave, retire as exec ranks shrink
Robert Snell / The Detroit News
The management shakeup at General Motors Co
.
continued Wednesday with several key executives -- including the
company's vice president of research and development and its lawyer --
announcing retirements or departures now that the automaker has emerged
from bankruptcy court.
Also Wednesday, U.S. Bankruptcy Judge
Robert Gerber set a hearing for July 22 after the automaker asked for
additional time to file a complete list of assets and liabilities in
the bankruptcy case. GM, which filed for Chapter 11 bankruptcy on June
1, already was granted an extension until July 31 but has asked for an
additional 60 days.
The volume of paperwork and demands on
employees to stabilize GM's operations necessitate an extension, GM
lawyer Stephen Karotkin wrote in a court filing.
The management changes announced Wednesday include:
•
Larry Burns, vice president of Research & Development and Strategic
Planning, will retire Oct. 1 after 40 years with GM and be replaced by
Alan Taub, executive director of research and development. Taub
oversees GM's science laboratories in the U.S., Germany, China, India
and Israel.
Burns was instrumental in developing vehicles that rely on alternative sources of power, such as electricity and fuel cells.
In April, GM announced it was building a prototype two-seat electric
vehicle with Segway Inc. that relies on small lithium-ion batteries.
•
Robert S. Osborne, group vice president and general counsel, is leaving
and will be replaced by Michael Millikin, GM's associate general
counsel, on July 20. Osborne, who helped engineer the automaker's asset
sale in bankruptcy court, is returning to private practice.
•
Chris Preuss, who has been vice president of global product
communications and GM's European public relations department, is
replacing Vice President of Global Communications Steve Harris on Oct.
1. Harris is retiring.
GM also announced the integration of
global research and development into global production development. The
moves help fulfill President and CEO Fritz Henderson's promise to prune the company's top executive ranks by 35 percent and its overall work force by another 4,000 positions.
"These
GM leaders not only guided the company through a financial crisis and
the successful creation of a new GM, but they put the elements in place
that will be critical for the new GM to succeed in the future,"
Henderson said in a statement.
Henderson is trying to speed up
the company's response times and decision-making by eliminating the
position of North American president and other top jobs.
GM also is replacing its automotive strategy and product boards with a single, eight-member executive committee that will meet weekly.
Changes
announced last week include ending GM's regional operating structure.
This eliminates the regional president positions and the regional
strategy boards. Nick Reilly will be appointed executive vice president
of GM International Operations, which will be based in Shanghai.
Last
month, purchasing chief Bo Andersson resigned before taking a job with
Russia's second largest automaker, GAZ. The move came a month after Cadillac chief Mark McNabb resigned and was named president and CEO of Maserati North America Inc., part of Italy's Fiat Group.
" BOW TIE OR NO TIE, UNTIL I DIE "
Eight months older than General Motors, Virgil Coffman clearly is not
whom Chevrolet had in mind when it decided to bring back the Camaro.
But
a bright yellow, 426-horsepower Camaro SS is exactly what Mr. Coffman,
who turns 102 in January, wanted when he went to a Chevy dealership
near his home in Decatur, Ill., in September. He ordered a
“Transformers” special edition model, which is adorned with black
stripes to resemble the character Bumblebee from the blockbuster movie.
Mr.
Coffman hasn’t seen “Transformers.” He said he just liked how the
special-edition Camaro looked — and that only 1,500 are to be produced.
He traded in a Chevy Monte Carlo for the new car. “Driving by myself, I
didn’t need one of those big cars anymore.” he said. “I wanted a
sportscar.”
After learning of Mr. Coffman’s purchase, G.M. flew
him to Detroit this week to show him around a design studio and its
Heritage Center, a museum filled with hundreds of cars it has built
during his lifetime – and, of course, get a little publicity for one of
the company’s hottest-selling cars.
Mr. Coffman worked for G.M.
from 1950 until 1973, first making bumpers for Cadillacs and later as a
chemist. He has owned 35 to 40 different vehicles — mostly G.M., none
foreign — starting with a “1920-something” two-door Chevy coupe. This
is his first Camaro, and he says he likes it the best.
^ THIS IS THE 2010 BUICK REGAL, JUST ANNOUNCED & READY FOR YOUR DRIVEWAY NOW !
(From Motor Trend ) ---
Buick introducs the 2010 Regal. It's an old American nameplate for a brand-new car -- a rebadged version of the Opel Insignia, a stylish Fusion-size sedan
that's selling to critical acclaim in Europe, having recently been
voted 2009 Car of the Year there by a jury of 59 European auto writers.
The Opel-based 2010 Regal replaces the old W-body model that has been
sold in China since 2003. Like its predecessor, it's built in China by
Shanghai-GM, the joint venture company operated by General Motors and
Chinese automaker SAIC. GM is currently selling 5000 new Regals a month
in China. (Here's a startling contrast: Buick hasn't sold 5000 a month
of anything in the U.S. for some time.)
GM originally planned to make and sell this car here in the U.S. as the next-generation Saturn Aura. Saturn
was to share Opel's design language as part of GM's global product
realignment, but as Todd Lassa reported last year, the company
subsequently decided Opel design was to be shared with Buick instead,
and the Aura plan was axed. But could the Insignia still make it to America badged as a Buick?
BOOKMARK THIS PAGE FOR MORE NEWS ON GENERAL MOTORS THAT WILL BE POSTED HERE SOON !
GM BRINGS BACK THE CHEVY CAPRICE POLICE CAR FOR USA POLICE DEPARTMENTS, WATCH YOUR BACK !!!....:
DENVER – An all-new Chevrolet
Caprice Police Patrol Vehicle (PPV) will join the ranks of law
enforcement departments across North America in 2011. It’s a modern,
full-size, rear-drive sedan that will offer both V-8 and V-6 engines,
as well as a host of specialized equipment and features.
Chevrolet made the announcement at the annual International Association
of Chiefs of Police convention, in Denver, Colorado. The Caprice PPV
will be available for ordering next year and will hit the streets in
early 2011.
“The new Chevrolet Caprice police
car is the right tool at the right time for law enforcement,” said Jim
Campbell, general manager for GM Fleet and Commercial Operations. “We
asked for a lot of feedback from our police customers, which helped us
develop a vehicle that is superior to the Crown Victoria in key areas.”
Vice President, Global Chevrolet Brand Brent
Dewar added, “Along with Impala and Tahoe, the Caprice PPV gives
agencies a greater range of choices for police and special service
vehicles that are all available from Chevrolet.”
Unlike other police cars on the market, the Caprice PPV is not based on
existing “civilian” passenger-car model sold in North America. It has
been developed in key areas specifically for police duty, containing
modern equipment and features:
- Powerful
6.0L V-8 with fuel-saving Active Fuel Management technology and E85
capability delivers expected best-in-class 0-60 acceleration (sub six
seconds) and top speed; a V-6 engine will also be offered, beginning in
the 2012 model year
- Optional front-seat-only side curtain air bags allows a full-width rear-seat barrier for greater officer safety
- Two trunk-mounted batteries, with one of them dedicated to powering various police equipment
-
Designed for five-passenger seating, meaning the upper-center section
of the dashboard can be used for equipment mounting without the concern
of air bag deployment interference
- Compatibility with in-dash touch-screen computer technology
-
Special front seats designed for the long-term comfort of officers
whose car is their effective office, including space that accommodates
the bulk of a typical equipment belt
The
front seats are sculpted to “pocket” the equipment belt, which greatly
increases the comfort for a great range of police officer sizes. The
foam density of the seatback and cushion insert surfaces are designed
to conform to the shape of an equipment belt’s various items, too,
allowing the officer’s back to rest properly on the seatback surface.
“The Chevrolet Caprice PPV’s seats represent a revolution in comfort
and utility for officers who spend long hours in their car,” said Bob
Demick, lead seat design manager. “The shape also enhances entry and
egress, making it easier for officers to exit the vehicle quickly. The
seatback bolsters, for example, have been purposefully contoured to
help pocket the equipment on the belt, which includes the gun, Taser
and handcuffs, which rest comfortably in the sculpted lower bolsters.
That also increases the longevity of the trim cover surface.”
Along with comfort, the materials used in the seats were also carefully
selected. High-wear materials were chosen to stand up to long hours of
everyday use, while breathability, long-term durability and ease of
cleaning were also important criteria.
Engineers
worked on several iterations of the seat, testing a couple of versions
in the field to get real-world feedback from police officers, who used
prototype seats in their cruisers for a month. Their input helped
determine the final design.
Class-leading space
The Caprice PPV is based on GM’s global rear-drive family of vehicles
that also underpins the Chevy Camaro. It uses the longest wheelbase of
the architecture – 118.5 inches (3,010 mm) – along with a four-wheel
independent suspension that delivers responsive high-performance
driving characteristics that are crucial in some police scenarios.
Caprice PPV’s long wheelbase also contributes to exceptional
spaciousness. Compared to the primary competition, its advantages
include:
- A larger interior volume – 112
cubic feet / 3,172 liters – than the Ford Crown Victoria, including
nearly 4 inches (101 mm) more rear legroom
- The barrier
between the front seat and rear seat is positioned farther rearward,
allowing for full front-seat travel and greater recline for officer
comfort
- At 18 cubic feet (535 liters) free space (beyond
battery located in trunk), the Caprice’s trunk volume is large enough
to accommodate a full-size spare tire under a flat load surface in the
trunk storage area.
The Caprice’s
6.0-liter V-8 is rated at an estimated 355 horsepower (265 kW) with an
estimated 384 lb-ft of torque. It is backed by a six-speed automatic
transmission that is performance-calibrated for police duty.
Additional, police car-specific powertrain and vehicle system features
include:
- High-output alternator
- Engine oil, transmission and power steering coolers
- Standard 18-inch steel wheels with bolt-on center caps
- Large, four-wheel disc brakes with heavy-duty brake pads
- Heavy-duty suspension components
- Police-calibrated stability control system
- Driver information center in the instrument cluster with selectable speed tracking feature.
A host of complementary features are also offered, including special
equipment packages such as spotlights; lockouts for the power windows
and locks; and an “undercover” street-appearance package (9C3).
To enable more room for interior equipment, the standard radio can be
relocated to the trunk, allowing for an in-dash, touch-screen computer
to be used.
Caprice on patrol: A brief history
Chevrolet’s history with law enforcement is almost as old as the brand
itself. Police departments have used Chevy sedans as police cars for
decades, ordering them with basic equipment and powerful V-8 engines –
including some special engines that weren’t available in
regular-production models, such as the 1959 Biscayne that was offered
with up to 315 horsepower.
The full-size
Chevrolets joined the force in 1976. All Caprice police cars –
including the new, 2011 model – have carried the 9C1 order code. Here’s
a quick look back at Chevys on patrol:
1959 – Chevy Biscayne police model capable of 135 mph with specially tuned, police-only version of the 348-cubic-inch V-8 engine
1965 –
The new “big-block” 396 engine is offered in Biscayne and Bel Air
police cars, making them among the most powerful on patrol; a 427 V-8
was added in 1966
1976 – The 9C1 order code is given for the first time to a full-size Chevy police car package. It carries the Impala name.
1977 – The full-size Chevy is downsized. The 9C1 police package is retained, as is the Impala name.
1986 –
The Caprice name replaces Impala, as the car is updated for the mid-
and late-1980s – including the option of a powerful, 5.7-liter
small-block V-8.
1991 – A new-generation Caprice is launched, with the 9C1 police car still on the beat.
1994 –
The 260-horsepower (194 Nm) LT1 V-8 engine is offered in the Caprice
9C1, making it one of the fastest full-size police cars ever offered.
1996 – Caprice police car production ends, as GM’s full-size, body-on-frame car architecture is discontinued.
2011 – The Caprice PPV returns to active duty.
About Chevrolet and General Motors:
Chevrolet is one of America 's best-known and best-selling automotive
brands, and one of the fastest growing brands in the world. With fuel
solutions that go from "gas-friendly to gas-free," Chevy has nine
models that get 30 miles per gallon or more on the highway, and offers
three hybrid models. More than 2.5 million Chevrolets that run on E85
biofuel have been sold. Chevy delivers expressive design, spirited
performance and provides the best value in every segment in which it
competes. More information on Chevrolet can be found at www.chevrolet.com. For more information on the Volt, visit http://media.gm.com/volt/.
General Motors Company, one of the world's largest automakers, traces
its roots back to 1908. With its global headquarters in Detroit, GM
employs 219,000 people in every major region of the world and does
business in some 140 countries. GM and its strategic partners produce
cars and trucks in 34 countries, and sell and service these vehicles
through the following brands: Buick, Cadillac, Chevrolet, GMC, GM
Daewoo, Holden, Opel, Vauxhall and Wuling. GM's largest national market
is the United States, followed by China, Brazil, the United Kingdom,
Canada, Russia and Germany. GM's OnStar subsidiary is the industry
leader in vehicle safety, security and information services. General
Motors Company acquired operations from General Motors Corporation on
July 10, 2009, and references to prior periods in this and other press
materials refer to operations of the old General Motors Corporation.
More information on the new General Motors Company can be found at www.gm.com.
(COURTESY OF GM MEDIA) - PICTURE BY STINGRAYSSTUDIOS.COM
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