GM reported a net loss of $2.5 billion or $4.45 per share for the third quarter, including special items. That compares with a net loss from continuing operations of $42.5 billion or $75.12 per share in the third quarter of 2007, which included a non-cash charge of $38.3 billion to establish a valuation allowance against [...]
Automotive News wrote that GM is postponing nearly all its product development spending until 2011, to cut costs. This move could delay the upcoming Chevrolet Cruze and other vehicles. Cost cuts will also hit engineering, design and research. Projects are being postponed rather than cancelled, with the hopes of saving up to $1.5 billion. The [...]
The 2010 Chevrolet Camaro will carry a higher price tag than the Dodge Challenger or Ford Mustang. The base 6-cylinder version will sticker out at $22,245, almost a thousand dollars higher than the equivalent Challenger SE and more than $2,500 more than a stripper Mustang. A V8 Camaro SS will start at $30,245, according to [...]
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