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Auto News 06/2009

GM set to file for bankruptcy (UPI)
DETROIT, May 31 (UPI) -- General Motors Corp. is set to file for bankruptcy protection and restructure its operations under the control of the U.S. government, industry sources said.

The 31-Year-Old in Charge of Dismantling G.M. (New York Times)
Brian Deese, who had never even set foot inside an auto assembly plant, is the little-hand behind the restructuring of the American automobile industry.

Tailfins, V-8s, Corvettes: The wake of an icon (USA Today)
For generations, General Motors fueled America's love affair with the automobile, building cars that defined their owners' status in life and the industrial might of the nation. But less than a year after entering its second century, the company that survived wars, international rivalry and even the Great Depression is being driven by the government into bankruptcy court.

General Motors files for bankruptcy :
General Motors, the largest U.S. automaker and one of the industrial icons that helped define the nation’s economic growth and prosperity for most of the 20th century, filed for bankruptcy Monday morning in New York.

Japan new auto sales down 19 percent in May (AP via Yahoo! Finance)
Domestic sales of Japanese vehicles fell for the tenth straight month in May, an industry group said Monday, but the decline eased from recent months.

After Many Stumbles, the Fall of an American Giant (New York Times)
Rarely has a company fallen so far and so fast as General Motors, which ruled the car industry for more than half a century.

Judge OKs Chrysler sale to Fiat-run group :
Chrysler, Detroit’s No. 3 automaker and the first felled into bankruptcy by declining sales and the global economic downturn--is poised to emerge after a judge approved the sale of most of its assets to an entity run by Italy’s Fiat.

It's time to reset 'conventional' thinking on GM, Chrysler:
And so it begins: The General Motors Corp. bankruptcy came today, something the federal government is calling a “strategic, surgical” bankruptcy.

GM offers incentives for buyers not afraid of bankruptcy :
Buyers not spooked by the specter of the General Motors bankruptcy can snare some decent deals.

Lexus LF-A to hit the road at Tokyo show and Citroën may build the GT: News Brake for Monday, June 1:
In today's News Brake: GM steps into bankruptcy as Chrysler is ready to step out, the production version of the Lexus LF-A may get its debut at the Tokyo motor show, and Citroën executives take a close look at building the GT concept . . .

Future GM products remain on track, despite bankruptcy:
Despite the gut-wrenching restructuring in bankruptcy that lies ahead for General Motors, key upcoming products remain on track and GM’s future showroom will be a source of strength, the company said Monday.

New Honda wagon spied testing before fall debut:
You need some cargo room, but you don't want an SUV, a minivan or a pickup. What to buy? Honda thinks it might have an answer in this wagon with a sporty, sloped roofline.

Putin says Opel deal 'must help Russian car industry' (AFP via Yahoo! News)
The rescue of German carmaker Opel by Canada's Magna and Russian state-owned bank Sberbank must help the Russian car industry, Prime Minister Vladimir Putin said Monday, quoted by Interfax news agency.

Opel deal must help Russian car industry: Putin (AFP via Yahoo! News)
Russian Prime Minister Vladimir Putin told executives Monday that the rescue of German carmaker Opel by Canada's Magna and Russian state-owned bank Sberbank must help the Russian car industry.

UPDATE: Opel Deal Must Help Russian Car Industry - Putin (Nasdaq)
MOSCOW (AFP)--The rescue of German carmaker Opel by Canada's Magna International Inc. (MGA) and Russian state-owned bank OAO Sberbank (SBER.RS) must help the Russian car industry, Prime Minister Vladimir Putin said Monday, quoted by Interfax news agency.

Opel deal must help Russian car industry: Putin (TODAYonline)
A flag with the logo of US car maker General Motors in front of the Opel sign in Bochum, western Germany. Russian Prime Minister Vladimir Putin told executives Monday that the rescue of German carmaker Opel by Canada's Magna and Russian state-owned bank Sberbank must help the Russian car industry.

$10.5B GM bailout, funds for Chrysler, necessary to save Cdn auto industry: Harper (The Canadian Press via Yahoo! Canada News)
TORONTO - It's regrettable that Canadian taxpayers are funding a $10.5-billion bailout of General Motors but the move is a necessary one to keep the auto industry in Canada amid a global recession, Prime Minister Stephen Harper said Monday.

I was Romania’s car czar: lessons in nationalising your auto industry (Crikey)
Ion Mihai Pacepa ran Romania's car industry under the Soviet Union. With the US Government set to take over General Motors, he offers Congress some advice.

Opel deal shall facilitate Russian auto industry: PM (People's Daily)
Russian bank Sberbank's acquisition of shares in Opel should help boost the development of Russia's automobile industry, said Prime Minister Vladimir Putin here on Monday. "The Russian government has its own strategy to develop the automobile industry, and the deal we are talking about should be written into it," said Putin at a meeting with Sberbank's chairman German Gref, Russian Industry and ...

‘Bailout’ it’s not, Virginia bankers say (Richmond Times-Dispatch)
Virginia bankers cringe at the word “bailout.“ Many have applied for money that the federal government began offering last fall to boost lending in frozen credit markets. But banking officials don’t want to be included with AIG Inc. and Citigroup Inc., or the automobile-manufacturing industry, as beholden to federal taxpayers for their financial prosperity.

Jesse James Drives Again: TV host finishing up streamliner, to run soon:
No, Jesse James is not building his own jet fighter at West Coast Choppers. It only looks like a jet fighter. What you see pictured here is actually the Dees-Milodon Engineering-Davis B Streamliner, which ran on the salt in the 1960s.

GM plans to sell Hummer to Chinese company:
Hummer finally appears to have found a home, and it’s with a Chinese industrial-equipment company.

Porsche board still favors merger with Volkswagen:
Porsche’s board of management said Monday that it still favors a merger with Volkswagen and doesn’t want to limit the potential deal to a specific time frame.

Research and Markets: This Essential 2009 U.S. Automotive Exhaust System Repair Industry Report Contains Timely and ... (Business Wire via Yahoo! Finance)
DUBLIN----Research and Markets has announced the addition of the "2009 U.S. Automotive Exhaust System Repair Industry Report" report to their offering.

Mini makes big news, while GM has a Hum-dinger of a deal: News Brake for Tuesday, June 2:
In today's News Brake: Mini's new roadster concept is ready for Frankfurt, GM has a deal for Hummer, and the details on a very useful navigation unit...But Wait, There's More!

St. Louis rich in auto industry history (KSDK St. Louis)
St. Louis rich in auto industry history

Blink and you'll miss Ken Block in new Gymkhana video:
Explosions, hooks and slides and the destruction of fluorescent light bulbs--all in the name of gaining attention for DC Shoes?

McLaren F1 driver finds himself in hot seat:
The McLaren F1 is one hot supercar--literally, in the case of one of the 106 built.

Auto sales show uptick (Detroit News)
With May U.S. car and truck sales up 13% over April's tally, industry experts say the automobile market has finally bottomed out after suffering one of its worst declines in history.

GM to sell Hummer to Chinese company (Baltimore Sun)
NEW YORK - Bankrupt automobile maker General Motors said Tuesday it has reached a tentative deal to sell Hummer, its military-style-vehicle brand, to Sichuan Tengzhong Heavy Industrial Machinery Co. Tengzhong, based in the Chinese province of Sichuan, is a privately owned company that makes road, construction and energy-industry equipment. Final terms of the deal, expected to close in the third ...

Govt may impose 10% safeguard duty on aluminum product imports (Business Standard India)
India is contemplating 10 per cent safeguard duty on imports of key aluminum products used in the automobile and machinery sector to protect the domestic industry against cheap shipments mainly from China, South Korea, Oman and Iran, an official said.

The AutoWeek list: 10 post-bankruptcy GM and Chrysler vehicles to look forward to:
As Chrysler and General Motors sort through messy restructuring processes in bankruptcy court, it’s worth noting that there is a bright light at the end of the tunnel for both companies, if everything goes well.

Games Galore: Video games are the one growth industry in the car business:
If the movie industry was the entertainment king of the 20th century, the video-gaming industry is where disposable income is headed for the 21st century.

Chonqing energy-saving, new energy auto industry alliance established (People's Daily)
Chonqing energy-saving and new energy auto industry alliance, in which Chongqing Changan Automobile Co. Ltd. plays the leading role, was established on Jun. 2. With over 30 automakers, components producers and research institutes, the alliance is aimed at building the largest new energy vehicle research and development, manufacturing and application base. Chongqing municipal government will ...

Six questions for the creator of Gran Turismo:
When you are granted an audience with Kazunori Yamauchi, godfather of Gran Turismo, you take it.

World auto industry reshuffles amid crisis (People's Daily)
A severe crisis beginning during the second half of 2008 has forced the world's auto industry into a total shakeup, as new players and others compete in a landscape under new rules. &$ &$The logo of General Motors Corp. (GM) is seen in front of the GM headquarters in Detroit, the United States, April 15, 2009. The largest U.S. automaker, General Motors Corp., officially filed for bankruptcy ...

Electronic Entertainment Expo: The Goods:
There were zillions of gaming aids at E3, but we only have room for three:

Research and Markets: This 2009 U.S. Automotive Transmission Repair Industry Report Contains Timely and Accurate ... (Business Wire via Yahoo! Finance)
DUBLIN----Research and Markets has announced the addition of the "2009 U.S. Automotive Transmission Repair Industry Report" report to their offering.

South Africa: Recession Adds More Strain to Motor Industry (AllAfrica.com)
Johannesburg — The National Association of Automobile Manufacturers of SA (Naamsa) yesterday reported that new vehicle sales plunged 34,7% year on year last month to 25819 units - excluding Associated Motor Holdings figures - with new passenger car sales dropping 27,2% to 16505.

Catch a glimpse of GM's new small car, redesigned Jaguar XJ in News Brake for Wednesday, June 3:
In today's News Brake: We catch a glimpse of the replacement for the Chevrolet Aveo; GM says it has 16 suitors for Saturn; and Ian Callum talks a bit about the redesigned Jaguar XJ sedan ... But Wait, There's More!

Research and Markets: 2009 U.S. Testing Laboratories Industry Report - Features 2009 Current and 2010 Forecast Estimates (Business Wire via Yahoo! Finance)
DUBLIN----Research and Markets has announced the addition of the "2009 U.S. Testing Laboratories Industry Report" report to their offering.

Dealers positive despite crumbling industry (Parry Sound North Star)
Is it the death of the North American auto industry or its re-birth? Amid all the talk of bailouts and bankruptcy, there are many who feel that dramatic changes in the auto industry were necessary and long overdue.

Chinese-made Coda electric sedan looks to plug in to U.S. market:
There's some competition for the Tesla Model S. Santa Monica, Calif.-based Coda Automotive unveiled its first electric car on Wednesday, and it's no golf cart.

What can China's auto industry learn from GM's bankruptcy? (People's Daily)
There are many reasons for the decline of General Motors Corporation (GM), which led them down the path from being the world's top automaker for 77 consecutive years to filing for bankruptcy protection. The revelation brought to China's automobile industry can also give multiple lessons. Firstly, it is about the relations between becoming big and becoming refined and strong. Following numerous ...

Switch to a smarter fuel for cars, trucks -- and to help local industry (Detroit Free Press)
Saying Detroit is heading in a new direction is like saying you know it's daytime because the sun's out.

Feinstein, carmakers clash on cash for clunkers (San Francisco Chronicle)
Desperate to prop up U.S. car sales, Congress is moving closer to passing a cash-for-clunkers bill that is less about greening the environment and more about greening the auto industry. The cash-for-clunkers concept involves paying people, with public funds,... Sponsored Topics: United States - Automotive industry - Automobile - Business - US

1936 Bugatti could break Ferarri auction record:
A 1936 Bugatti Type 57C coupe, built as a gift for Ettore Bugatti, will be on the block at Gooding and Co.’s auction during the Pebble Beach Concours d’Elegance this August.

Chevrolet Viva is spied, set to replace Aveo:
The lowest rung on the Chevrolet car ladder currently is home to the Aveo. But that car is scheduled to be replaced midway through 2010 with a new model.

Live chat with W.Va. Auto and Truck Dealers Association President Ruth Lemmon (The Charleston Gazette)
Ruth Lemmon, president of the state Automobile and Truck Dealers Association talks about the auto industry in light of GMs bankruptcy today. ...

A rare Bugatti is up for auction, Brabham denies F1 report in News Brake for Thursday, June 4:
In today's News Brake: A rare Bugatti could break an all-time auction record; GM dealer cuts are set to be revealed; and Jack Brabham denies any connection to an upstart F1 team...But Wait, There's More!


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