Falling gasoline prices were not enough to revive sales of SUVs and pickups in August as General Motors, Ford Motor and Toyota Motor all reported a sharp fall in sales once again. And Ford warned it sees even tougher times ahead.General Motors, the nation’s largest automaker, reported that sales tumbled 20% from year-ago levels. That wasn’t as bad as expected though — sales tracker Edmunds.com was forecasting a 28% drop.
In fact, August turned out to be GM’s best month this year. The company sold 307,285 vehicles thanks to a popular “employee pricing” incentive program which allowed any buyer to get a vehicle for the same cost as a GM employee. That offer, in place for the last third of the month, has been extended into September.
But there was plenty of weakness in the report as sales of light trucks, which includes pickups, SUVs and vans, tumbled 24% from a year ago.
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Any good news of late from Detroit? Not today:
General Motors Corp. is recalling 857,735 vehicles equipped with a heated windshield wiper fluid system for a potential short-circuit problem, according to federal safety regulators.
A short-circuit in the system may cause other electrical features to malfunction, create an odor or cause smoke, increasing the risk of a fire, the National Highway Traffic Safety Administration said on its Web site.
The recall involves the 2007-2008 model year Chevrolet Silverado, Tahoe, Avalanche and Suburban, Cadillac Escalade, Escalade ESV and Escalade EXT, GMC Acadia, Sierra, Yukon, Yukon XL and Saturn Outlook; 2006-2008 Hummer H2, Cadillac DTS and Buick Lucerne; and the 2008 Buick Enclave.
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Automakers plan to urge Congress to support funding up to $50 billion in low-interest loans over three years to help them modernize their assembly plants and develop next-generation fuel-efficient vehicles.Industry officials said the loans, which are twice the amount authorized in last year’s energy bill, are a top priority when Congress returns next month because of the declining fortunes of Detroit’s automakers and tightening credit markets.
“The amount of concern and urgency from the Detroit companies has increased in the last month and significantly ratcheted up what they’re communicating what their funding needs are,” said Alan Reuther, legislative director for the United Auto Workers union.
Congress authorized $25 billion in low-interest loans in last year’s energy bill, but the auto industry’s allies in Congress have been unable to get funding for the plan. Continue reading…
According to CNN Money
Above 0.08, you get arrested. At 0.3 you suffer from alcohol poisoning. At 0.4, you are either in a coma, or you die. The man was driving in a parking lot with a beer in between his legs. Nice. Not so nice: someone called the cops. It’s his fifth DUI:
Slated to enter the U.S. market for the 2011 model year, the Cruze could replace the Cobalt small car.
General Motors released the first photographs of what will be the company’s new Chevrolet Cruze compact car Thursday. The Cruze represents a more aggressive attempt by GM to truly take on the small car market, according to an industry analyst.
“Particularly at GM, they’ve always viewed their small cars with disdain,” said Ed Kim, an analyst with industry marketing consultants Autopacific.
Where cars like the Chevrolet Cobalt, which the Cruze will replace, are seen as money-losers needed to meet government fuel economy requirements, the Cruze is a serious attempt to create a more-than-competitive small car, said Kim. Continue reading…
According to Peter Valdes-Dapena
One of the most exclusive sports cars in the world just became more exclusive.
On the night before the Pebble Beach Concours d’Elegance, Bugatti took over the awards ramp to show its latest creation. Given that dozens of vintage Bugattis have traveled across that ramp over the past 50 years, it seemed quite an appropriate location for the debut of the latest model from the French automaker, the Veyron 16.4 Grand Sport.
The regular Veyron 16.4 is quite exclusive in its own right – only 160 have been built, with deposits on 240 more — and the new Grand Sport will be built in even fewer numbers. Only 150 copies of the new roadster will be built, with the first 50 available only to current Bugatti customers.
The new Grand Sport is distinct in many ways, but the most noticeable addition — or perhaps subtraction — is the removable roof. The roof is made of a transparent polycarbonate and requires two people to remove. Once removed, the Veyron 16.4 Grand Sport becomes what Bugatti calls the fastest roadster in the world, with a top speed of around 225 mph. Put the top back and the Grand Sport will reach just over 250 mph. Read more…
According to Perry Stern
Larry Horsley loves that he doesn’t buy much gas, even though he drives his ‘95 Chevy S-10 back and forth to work each day.
Horsley, a self-described do-it-yourselfer, simply plugs his truck into an electric wall outlet in his Douglasville, Georgia, garage and charges it overnight, instead of buying gasoline refined from mostly imported oil.
“If I can keep a dollar from going overseas, I’ll spend two dollars,” he said. The whole conversion, including the truck, cost him about $12,000, which parts dealers say is about standard.
Another Atlanta-area tinkerer, David Kennington, converted his Honda Civic del Sol from gasoline to electric for a different reason: “I’m a raging greenie,” he said. Read more…
According to Curt Merrill
BMW AG said Wednesday it was recalling 200,000 vehicles over concerns that the front passenger air bag may not deploy in a crash.The German automaker said the recall involves the 2006 3 Series, the 2004-2006 5 Series and the 2004-2006 X3 compact sport utility vehicles in the United States.
The National Highway Traffic Safety Administration said in a posting on its Web site that small cracks could develop in a seat detection mat and deactivate the front passenger air bags.
NHTSA said the air bag warning lamp and the passenger air bag “on-off” light would remain on. The head protection system, however, would not be affected, the government said. Read more…
According to www.money.cnn.com
Tags: BMW, Recalls|
Posted By: ashley | Aug 14th