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Hillary Clinton promising green-collar jobs and green vehicle bonds

Hillary Clinton yesterday toured a plant in Maryland that builds transmissions for GM’s full-size hybrid vehicles. The presidential candidate immediately began promoting her plan to create five million “green-collar” jobs.

She pledged to give £2.5 billion to automakers for battery research, and provide £10 billion in “green vehicle bonds” for automakers wishing to renovate old factories, mainly American car makers. She also promised £5,000 in tax credits for buyers of plug-in hybrid.

If Hillary Clinton is elected as the next president of the US, GM won’t have any excuse not to build efficient cars.
Source: Detroit News
February 13, 2008
Ferrari recorded a strong 2007 year

The Italian marque has announced that its turnover had jumped from £1,076million in 2006 to £1,240million last year and that 6,465 cars had been delivered representing a 14 per cent increase over 2006.
Asia Pacific recorded the strongest growth with a 47.2% increase, followed by the Middle East region whose sales rose by 32.3%. The UK sales grew up by 8.2% while the US recorded a 7.7% increase. Germany followed by a 5.9% increase.
The company increased its investments to £222 million. The investments related to future model development, the building of a new company restaurant as well as the new production lines facility designed by French architect Jean Nouvel. Both facilities are scheduled to be opened over the next few months.
February 13, 2008
Infiniti to unveil the next-generation FX at Geneva

Infiniti will unveil its lineup aimed at conquering the Western European markets. To celebrate this important milestone, Infiniti will stage the global premiere of the second generation of the FX SUV. Never before has a new Infiniti been revealed outside of the US.
Infiniti will also unveil the rest of its line-up of performance cars, tailored for the European market: the V6 powered G Sedan, G coupe and EX coupe crossover. This portfolio of products will be launched across Europe, together with the second generation FX, from October 2008.
February 13, 2008
Pontiac Trans Am canceled

Pontiac has been designated by GM as its performance brand and the launch of the eagerly-awaited G8 that will spearhead a revival of the American marque, but this might also be the last attempt of sportiness for the brand.
Indeed, GM said there won’t be any Trans AM derived from the Camaro and blamed the stricter CAFE regulations. Likewise Pontiac rear wheel drive models have been put on hold because of the CAFE regulations. Unless they lack expertise in making cars, how would the CAFE regulations stop making rear-wheel drive cars? As said a car dealer to Automotive News, “The plan is being tweaked because of the gas situation,” Lynn Thompson, owner of Thompson Motor Sales in Springfield, Missouri but “I hope they don’t give up on performance because they don’t have to. You can use four-cylinder engines to achieve incredible power.”
GM is using the upcoming CAFE regulations as a smokescreen to hide the fact that they might not have a clear, cohesive product strategy for Pontiac. The CAFE regulations are going to drastically change the entire auto industry, but there are available technologies that GM could use to provide ample power without sacrificing fuel efficiency. It’s hard to believe that an experienced, multi-billion dollar car corporation like GM is having so much trouble defining a brand image for one of its divisions and supplying that division with products that support that brand image.
By canceling the Trans Am, GM kills a bit more the Pontiac brand. When will it disappear?
February 13, 2008
Lutz said global warming is a “total crock of shit.”

The straight talker and car czar Bob Lutz said a lot of interesting comments during a closed-door session with some journalists: global warming is a “total crock of shit,” hybrid and diesel cars “make no economic sense.”
Our good old Bob Lutz is never short of a joke. This time he said that he was rather skeptic about global warming and didn’t want the Volt to be developed to fight global warming but to reduce the US dependance on foreign oil.
He also said that Hybrid cars like those made by Toyota “make no economic sense,” because their price will never come down and that diesel cars are also uneconomic. He justified his view about diesel by explaining that diesel cars make sense when diesel fuel is half the cost of regular gasoline. When it’s not the case, diesel has little market penetration. Surprisingly, in the UK, diesel and gasoline cost the same and still diesel penetration reach 40% in January. It might be interesting for Bob to travel abroad sometimes and not only in a private jet.
He also compared the mission of a car maker to the movie business. “you’ve got to look at the business artistically, too. Part of our business is creating blockbusters”, he said. Unfortunately for GM, Bob doesn’t have a good flair for blockbusters!
February 13, 2008
New pictures of the new Ssangyong Chairman W

After the teaser, Ssangyong has released the first official pictures of the exterior and the interior of the new Chairman W.

With this new generation, Ssangyong wants the Chairman to move upmarket. The new executive saloon will feature a serious exterior styling although a little tame and will send the current to the forgotten pages in the automotive history books. On the inside, the Chairman seems to offer an excessive equipment with a riot of cheap-looking wood panels.

Ssangyong hopes to sell 20,000 new Chairman W vehicles on the Korean market and 10,000 vehicles overseas, including Chinese market. “We’re fully prepared to compete with world-class luxury models, such as Lexus LS430, Audi A8, BMW 750 worldwide,” said Choi Hyung Tak, Ssangyong’s CEO. “The model will be the most expensive car in Ssangyong’s lineup.” The car will go on sale from next month.
Surprisingly, Ssangyong has sold 100,000 Chairman since the model was launched in 1997.
February 13, 2008
New Cadillac XLR to appear in June

According to the Chicago Tribune, The GM luxury brand, Cadillac, will launch a new XLR next July. Unfortunately details remain scarce and it is not specified if this is a revamped XLR or an all-new model.
The XLR is the SL-Class for Cadillac. If it doesn’t meet the same success as the German model, it’s still an emblematic model for the car maker. If the new XLR gets a facelift, it will likely hit the showrooms in July. if it’s an all-new model, it will likely be unveiled in July but won’t hit the showrooms before 2009.
Secrecy surrounds the future XLR although some observers believe the XLR-V will replace its 4.4-litre V8 by the 550bhp LSA V8 seen in the new CTS-V model. Despite sharing its platform with the Corvette, the XLR won’t get any engine from the sports coupé.
February 13, 2008
GM has unveiled the three door Aveo

Chevrolet has unveiled the first pictures and details of the new three-door Aveo which will be displayed at the next Geneva Motor Show.

The new three-door version is based on the five-door Aveo revealed last year at the Frankfurt Motor Show. The new Aveo will be available with a choice of two petrol engines, gasoline engines: a 1.2-litre unit with an output of 83bp and a 1.4-litre unit with 100bp. The car will hit the showrooms in June.

With the five-door model due to go on sale next month, the three door Aveo is Chevrolet’s serious attempt to take on established rivals such as the Peugeot 207 and the Vauxhall Corsa. Chevrolet didn’t go wild with the design and the Aveo exterior styling is aggressive at the front and a little tame at the rear end. The interior styling looks a bit outdated. With a competitive price, Chevrolet will likely sell the Aveo quite well in aster Europe. On our shores, the challenge will be higher.
February 13, 2008
Saab on the rocks, please!

Saab has created a real-life sized replica of the Aero-X Coupe Concept made entirely from ice. The icy concept is housed within the famous ICEHOTEL in Sweden.
The ICEHOTEL is situated in the village Jukkasjärvi, 200 kilometres north of the Arctic Circle in Sweden. The heart and backbone is the River Torne flowing freely through the unspoilt wilderness. Covered with a meter thick ice layer winter time the river is the source of all blocks used to build the unique hotel. The ICEHOTEL, which has more than 80 rooms and suites, only exists between December and April and it is rebuilt from scratch every year.

The Aero-X has been designed and created by Simon Padian, chief designer for Saab with the help of Tjåsa Gusfors – a leading designer specializing in ice and snow sculpture. The car is located in a special room dubbed “Move Your Mind”
Visitors will be encouraged to walk through an ice suite featuring key Saab brand messages and showcasing Saab’s design heritage. Highlights include an ice sculpted Saab Aero X and impressive light and sound sequences.
February 13, 2008
GM announced a £19.8 billion loss for 2007

GM has announced a $38.7/£19.8 billion loss for the 2007 fiscal year. Most of this huge loss is the result of a tax write down realized in the second half of the year.
Sales were up 3% last year and the company made $181/£90 billion in revenue compared to $206/£103 billion in 2006. GM lost $23 million in 2007, compared to a net income of $2.2 billion in 2006. The company blamed its financial subsidiary, GMAC, for the loss.
General Motors also announced another round of planned buyouts to all 74,000 U.S. hourly workers represented by the UAW. The new round of buyouts will offer incentives of $45,000 for production employees or $62,500 for skilled trades. Retirement plans will also be offered to employees 50 years or older with at least 10 years of service.
February 13, 2008