Penske Automotive Group Inc. announced late today that it has ended negotiations to buy the Saturn brand from General Motors.
Penske cited concerns about what it called “the future supply of vehicles beyond the supply period it had negotiated with GM” during the due diligence process.
“The company had negotiated a definitive agreement with GM to source [...]
The National Automobile Dealers Association and a group of dealers, called the Committee to Restore Dealer Rights, whose franchises were terminated by Chrysler and General Motors have reached an agreement on recommended reinstatement procedures.
The compromise agreement calls for the automakers to disclose the actual criteria used to determine which dealers were to be terminated. If [...]
Cadillac joined Lexus at the #1 place in customer satisfaction in the annual University of Michigan survey of automakers. The director of the survey, Claes Fornell, credited the improvements to the loss of “disgruntled” customers, which let the domestic automakers focus more on their core markets. Regardless of the reason, the Chrysler hit the average [...]
It appears the days are numbered for California’s last automotive production facility. Sources with knowledge of the situation say the Japanese automaker will most likely wind down its share of the New United Motor Manufacturing Inc. plant it once shared with General Motors, ending the employment of the only UAW workers building Toyota products.
On Thursday, [...]
In 1979, General Motors employed about 618,000 people. By the end of 2009, it will have eliminated more than 90 percent of those positions.
Another round of buyout offers ended yesterday. Any employee agreeing to leave could get $20,000 in cash and a $25,000 vehicle voucher. Workers with more than 20 years with GM can get [...]
According to Bob Lutz’s blog, quoted by Automotive News, GM has dropped plans to convert the Pontiac G8 into a new Chevrolet Caprice, and to sell a police pursuit version of the car.
The G8 is a roughly even match for the Dodge Charger in dimensions, V8 power, and architecture. Developed in Australia, it has received [...]
Pontiac may be going away, but its Australian-built G8 sedan will likely live on as a large Chevy. According to sources, the G8 would reappear as the Chevrolet Caprice and the high-performance G8 GXP, with its 415-horsepower V8, would be marketed both as a premium sporty model described by one source as a “five-passenger Corvette” [...]
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