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This tag is associated with 13 posts

Chevy Volt to Feature Wireless Charging Mat

Now drivers need not worry about a phone getting drained during a long travel. By this year, General Motors will feature the wireless charging mat on the Chevy Volt.  The wireless charging mat will be placed on the center console, and all you have to do is to place your phone or the mp3 player and an instant the gadgets will start charging. The plan of GM is that this feature will be included in other brands like Buick, GMC and Cadillac. CNET has the lowdown on this new project for General Motors which can be accessed here.

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Leaner and meaner GM and Chrysler

Leaner and meaner General Motors and Chrysler- this is the objective now of President Obama. In a statement, the President said that the two big US auto companies must emerge from their re-structuring efforts as leaner and meaner companies, and he added that a substantial market awaits these two companies if they make the right decisions. Just last week, the President has pushed for laws that would pave the way for cleaner cars. He talked about plans for higher efficiency standards for cars and trucks and also tougher rules on emissions.

GM to cut 47,000 jobs this year

General Motors is set to cut 47,000 jobs and plans to seek up to $30 billion aid and this move by GM is just another testament to how bad the future of General Motors look. It is also part of the plan of General Motors to idle five more US factories. All these moves are part of General Motors’ massive restructuring plan. The carmaker is the recipient of the $13.4 billion in federal loans and it plans to seek another $16.6 billion the moment the economic fails to get back on track. In a news report, it added that General Motors can achieve its profitability in two years time and can fully repay its loans by 2017. The company’s plan was submitted to the Obama administration for review. General Motors is also working to win concessions form United Auto Workers and the bond holders of the company in order to effectively re-size the company. The UAW also had talks with Chrysler LLC and Ford Motor Co. and said that it had reached a tentative deal on contract changes. Still based on reports, there are still discussions on how the companies will fund the union-run trust funds that will take the companies’ healthcare obligations for the retireees for next year. General Motors’ brand will be down to four last December- Chevy, Buick, Cadillac and GMC. And GMC is considering the sales of Hummer.

Japan is home to the world’s largest carmaker

General Motors is now ranked number 2, and the number one carmaker is located in Japan. This came after General Motors fell by 11 percent. This is the year that General Motors celebrated its 100th year in the business. This does not mean that Toyota has no problems, sales for the company fell too and it just happens that the problems besetting General Motors are more critical. In a statement,  General Motors said that it sold 8.35 million vehicles for 2008 and this figure is 620,000 fewer than Toyota’s 8.97 million. Sales of GM fell 11 percent and sales of Toyota declined 4 percent. General Motors had been the largest carmaker in the planet since it overtook Ford in 1931.

GM gets $4b low interest loan

General Motors has reported that it has recieved $4 billion in low-interest loans coming from the federal government. For sure the infusion of fresh funds to the company will help GM address its financial issues. Chrysler LLC has also applied for the loans but they are still waiting for the approval of the loans since their application process has been slowed down for some reasons. The payment of $4 billion that the car company has received is just the first installment of the &9.4 billion in total loans that the company will get for January this year. And for Feebruary, the company is set to get another $4 bilion. This financial help that the company is getting for 2009 will be used to counter their billion dollar losses and their slowing sales. Chrysler is also expecting that they can get their $4 billion as soon as possible and they will use this as well to sustain their operations.

..Well there could be one according to President Bush

Hours after the Senators ended the life of the bailout for the auto industry, the Bush administration has announced that it might use the taxpayers money supposedly to bail out the banks in order to keep the automakers out of trouble. This announcement basically reverses the previous stand on how to help the ailing industry, and comes only hours after the Senate killed the bailout proposal. It was the president’s own party which ended the life of the bailout proposal. The said proposal had the support of congressional Democrats in the White House but in their version of the bailout, they intend to use a different source of funds.

How’s General Motors faring?

Two months after General Motors celebrated its 100th birthday, the company is facing a grim scenario that it may not survive to see another year unless something drastic is done by the government thru a federal bailout. The grim internal condition of the company can be seen in the performance of its shares in the stock market. The shares of General Motors sank to their lowest point in 65 years to $2.92 some time the first week of November this year.

The drop in value came a day after the company revealed in a federal filing that its ability to continue as a profitable company is in substantial doubt because the company may run out of money by the end of the year. The cash cushion of the company has been shrinking by more than $2 billion a month this fall. And if the situation continues, the company’s reserves will fall the minimum of $10 billion in cash that it needs to run its global operations by January next year. When that scenario happens, the company may not be unable to pay its suppliers, meet the company’s loan agreements and cover the healthcare obligations in its labor contracts.

The federal filing by the company this week revealed in greater detail the problem within the company. According to some analysts, only an emergency federal bailout stands between GM and a bankruptcy filing. General Motors is part of the Big Three that is suffering in the current economic turmoil. The other two companies include Ford Motors and Chrysler.

Big Three lobbying hard for auto bail-out

The Democrats have signaled the move to propose a bail-out plan designed for the automotive industry. And now that the US Senate is about to tackle the plan this Monday, the Big Three are lobbying hard to get a piece of the bail-out pie. The amount that they are after? It’s $25 billion, enough to save them from big problems. On November 7, General and Motors said that they lost money in the third quarter. General Motors, the largest automaker in the US right now said that it lost $2.5 billion and added that it canceled its move to acquire Chrysler LLC. Ford Motor Co is another loser in the industry as it posted a $129 million loss in the third quarter and added that it will slash another 2,260 jobs.

GM Rethinks Hummer

H2 Logo

In a growing admission that the growing cost of petrol may not be temporary, General Motors is about to rethink its position with regards to the production and the status of Hummer. This latest development came after General Motors Corp has announced Tuesday that it is closing its four truck plants that employs 10,000 workers. The move of the company doesn’t end with the closure of these plants, the company added that it could sell its Hummer brand, one of the more recognizable vehicle under the GM stable. The main reason why the plants are closed and the Hummer brand is to be re-evaluated is because of the escalating prices of petrol. The country’s largest automaker sees this factor as a permanent threat to business. The announcement was made by GM’s Chief Executive Rick Wagoner in a news conference before the annual meeting. He said that the company will close the four North American truck plants and will add shifts at two US plants that makes the more popular and more fuel efficient cars. The Chief Executive added that the company is reviewing the status of Hummer and added that the company could sell the SUV. Wagoner added;

High gasoline prices are changing consumer behavior rapidly. We at GM don’t think this is a spike or temporary shift. We believe that it is by and large permanent.

The move of the company to reconsider the Hummer comes as the price of petrol continues to hover around $4.00 in the country. And this development has led consumers to rethink their options as well and has led them to patronize smaller, and fuel efficient cars. This can be seen on the latest reports that reflects smaller cars from Honda and Toyota has eclipsed Ford’ F Series as the best selling vehicle in the country. In response to the obvious shift in preferences by the consumers, Chief Executive Wagoner outlined the company’s plan to cut car production by 500,000 to 3.7 million vehicles a year.

The Hummer is a military-derived SUV that has become synonymous with gas-guzzling excesses thru the years.

Powering the Chevy Volt

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The Chevy Volt will use a hybrid battery, and here’s some information about the batteries that can be used on this car. Most hybrid batteries recharge by reclaiming energy when the vehicle brakes. These battery packs are designed to of service for the hybrid for between 150,000 and 200,000 miles, and warranties do come complete with these batteries. These batteries are covered for between 8 and 10 years, depending on the automobile maker. The battery that is featured on the Chevy Volt will give power to a 161 hp electric motor, and this motor is connected to the front wheels and the one that provide the motive force. This lithium ion battery can peak at 136 kW and will have a total capacity of 16 kWh. If the other hybrids that are available in the market right now charges by means of braking, the battery housed in the Volt can be charged by plugging it to any standard 110 V outlet that you can find on your home. For about 6 to 6.5 hours, the Volt battery is charged again. Once charged, the battery of the Volt can move you to a range of 40 miles. The use of the Volt is just perfect for short-distance drive. But if there is a need to drive it longer, then drivers need not worry as well. A full fuel tank on the Chevy Volt- this means 12 gallons of gas- can give you a range of 640 miles!