GM to shut down Saturn

GM to shut down Saturn after Penske terminates talks with GM on uncertain future assembly

DETROIT (AP) -- General Motors Co. said Wednesday it would shut down its Saturn brand after an agreement with Penske Automotive Group Inc. to acquire it fell apart.

Penske, citing concerns of whether it could continue to supply vehicles after a manufacturing contract with GM ran out, ended talks with GM Wednesday to acquire the brand.

GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.

Source:
GM to shut down Saturn after Penske walks away
By Kimberly S. Johnson, AP Auto Writer
On Wednesday September 30, 2009, 5:07 pm EDT

Chevy Volt to get 230 mpg rating

Chevy Volt to get 230 mpg rating
Ultra-high mileage for GM's electric-drive Volt could give it a marketing boost.
Click here for the full story

Car Craft Summer Nationals Pictures Videos

User Rating: / 3
PoorBest 

It was a great weekend, like always, at the Car Craft Summer Nationals in St. Paul, Minnesota. Here are some links:

• Car Craft Bikini Contest Photos

• Car Craft Bikini Contest Videos (broken into 7 parts)
• Classic Chevrolet Car Photos
• Classic Chevrolet Cars on the dyno

GM makes speedy exit from bankruptcy

By TOM KRISHER and KEN THOMAS, Associated Press

DETROIT - General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy. Once the world's largest and most powerful automaker, new GM is now leaner, cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.

But GM, whose 40 days under court supervision was far shorter than anyone predicted, faces the worst auto sales slump in a quarter-century.

At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one. It will generate cash and repay billions in government loans ahead of a 2015 deadline.

The new company will build more cars and trucks that consumers want and launch them faster than in the past, the CEO said. GM also announced a partnership with eBay Inc. to test auctioning vehicles online.

"We recognize that we've been given a rare second chance at GM, and we are very grateful for that. And we appreciate the fact that we now have the tools to get the job done," he said.

Source:
www.startribune.com/business/50463707.html