Archive for the 'Financial' Category
Along With Wall Street Bailout, Plug-in Car Tax Credit is Passed: Chevy Volt Now $7500 Less
GM and the Chevy Volt turned up three “7s” on the Congressional slot machine. First, automakers got the $25 billion in low interest government loans. Second, the Wall Street bailout will likely help the beleaguered auto industry. Third, plug-in tax credits have now been signed into law.
The now passed by the House [...]
Popularity: 3%
GMs September Auto Sales Only Down 15.6% Beating Admittedly Low Expectations and all the Other Major Automakers
On our journey to the Volt, we have to check in regularly on the financials, as we know the Volt depends on GMs survival. Things have been very tough for automakers this year with sales down through the end of August an average of 11%. This from high oil prices and slowing economy, [...]
Popularity: 2%
GM Welcomes Chrysler to Join Them in the Electric Car Future
Earlier this week Chrysler attempted to shock the world by displaying three new production-intent electric and range-extended electric vehicles. Word was also out that the automaker was in advanced talks with A123 Systems to develop automotive batteries and had formed a strategic partnership with GE.
Chrysler must have been interested in sharing some of the publicity [...]
Popularity: 2%
One Step Towards a Cheaper Volt: Senate Passes Plug-in Tax Credit
US lawmakers certainly have their hands full these days. Somehow in the midst of wrangling with the fed over the massive Wall Street bailout plan, the Senate managed to pass a wide-ranging tax bill on Tuesday.
Included in the package is a new tax credit for people who buy plug-in electric cars. The credit starts at [...]
Popularity: 2%
GM CEO to Washington: Im Not Asking for a Bailout
Today GM’s CEO Rick Wagoner has been addressing the senate energy committee, encouraging them to appropriate $3.8 billion funds that would allow automakers to receive at least $25 billion in low-interest government loans.
Wagoner told lawmakers “I’m not here today asking for any bailouts,” and “we need to approve the ($3.8 billion) appropriation to authorize those [...]
Popularity: 3%
Washington Likely to Give GM Loan To Help Build Electric Cars
The US auto industry is going through especially difficult times as sales have plummeted along with the sagging economy and rising gas prices. The Detroit 3 have been struggling to make ends meet, and have been hemorrhaging money. Although GM has plans for maintaining liquidity into 2010, time for a hopeful turnaround, they, [...]
Popularity: 3%
Lutz: Each Volt Factors in the Cost of a Battery Replacement
Cutting edge lithium ion battery packs being built for the Volt are expensive. Some experts guess they cost up to $10,000 although certainly GM nor their suppliers are saying what the actual numbers will be.
When one looks at the close to $40,000 price tag for the Volt it is recognized that the pack makes [...]
Popularity: 2%
Lutz: GM Deserving of Government Loans
As we follow the Volt’s progress there is always a palpable sense of urgency as GM remains unprofitable and continues to burn through cash at a considerable rate. Especially problematic for them has been the dramatic rise in gas prices and precipitous plunge in truck and SUV sales from which most of their profit comes.
Chairman Wagoner [...]
Popularity: 2%
GM CEO’s Best Guess: Volt Will be Priced in “Mid to High 30’s”
GMs CEO Rick Wagoner was interviewed by Charlie Rose, the entire hour-long interview can be seen in the video below. On tonight’s upcoming episode Rose will interview Bob Lutz and talk even more about the Volt.
Some key exchanges between Rose and Wagoner is below (it begins in the video just after 28 minutes):
How much [...]
Popularity: 2%
Lehman: Oil Prices Have Peaked
Investment firm Lehman brothers has indicated that they believe oil prices have peaked for the next few years, citing signs that tight supply and demand conditions are loosening.
Oil peaked at over $147 barrel on July 11, and now has retreated back to $115. Hopefully to continue to drop.
High prices have led to reduced global and [...]
Popularity: 3%
It’s Official: A123 Systems Files for IPO
A123 Systems is the maker of advanced lithium-ion cells which are being tested for use in the Chevy Volt.
Most analysts agree that the lithium-ion battery market for electric cars will be massive could be on the scale of tens of billions of dollars. A123 already has significant leverage due to their unique technology and [...]
Popularity: 4%
Saving General Motors
Unless you live under a rock, you are likely aware that US automakers GM, Ford, and Chrysler are under tremendous financial duress.
Having to do with a catastrophic drop in consumer demand for cars, and trucks in particular, GMs North American revenue dropped by $10 billion in the first half of 2008 while they lost [...]
Popularity: 5%
Recent Posts
- Automakers Are Running Out of Time
- Auto Company CEO’s Testify Before the Senate
- Are Chinese Automakers Considering Buying GM and Chrysler?
- The Automaker Bailout Congressional Debate Has Begun
- Production Volt Interior Further Refined: Center LCD Screen, Center Stack Buttons, and Vents
- GM CEO Calls Chapter 11 Bankruptcy Filing a “Fantasy”
- How the Chevy Volt is Expected to Beat the 100 MPG Designation
- Pelosi Lays Out Conditions For Automaker Aid
- Auto Bailout Bill Will be Brought to Senate on Monday
- GM-Volt.com Letter to the US Government
