General Motors has announced that it will be offering its Reconfigurable Performance Display on a select few 2009 models. The dealer-installed option will list for $295 and will be available on Cobalt and HHR SS model, although the option will likely also extend to Pontiac Solstice GXP and Saturn Sky Redline buyers, too.



As the name implies, the Reconfigurable Performance Display consists of a small LCD display that can display a number of different performance data sets, and is also highly customizable. The device is capable of displaying battery voltage, boost pressure, instant horsepower and torque readouts, cam phase angle and even has a built in g-meter, thermometer and barometer.

The Reconfigurable Performance Display also controls the car’s traction control and features a few other trick options, such as a programmable shift light.

No word on when the Reconfigurable Performance Display will be available on other GM vehicles, but we’re sure it’s coming. Until then, it seems like the perfect way to make a baby Nissan GT-R out of your 2009 Cobalt SS.

General Motors announced just minutes ago that vice chairman and global product development head Bob Lutz - the automaker’s so-called “chief car guy” - will retire at the end of 2009. Lutz, who is credited with the Chevrolet Malibu, Pontiac Solstice and Saturn Sky, among other GM products, is responsible for the automaker’s product renaissance.

GM says that Lutz will be replaced - at least temporarily - by Tom Stephens. Beginning April 1, Lutz will transfer into a new role as Vice Chairman and Senior Advisor. Lutz, 76, will retire at the end of 2009.

Lutz was hired into GM by Chairman Rick Wagoner in September 2001 to revitalize the automaker’s product lineup. Immediately, Lutz set forth improving tactile quality and allowing for more expressive and creative designs. His first project, the Solstice, went from drawing room sketch to show car concept in just four months.

“Bob Lutz was already a legendary automotive product guy when he rejoined GM in 2001,” Wagoner said in a statement.

“He’s added to that by leading the creation of a string of award-winning vehicles for GM during his time here. His 46 years of experience in the global automotive business have been invaluable to us. I’ve personally learned a great deal from Bob and have very much enjoyed the time we’ve worked together.”

“I’m looking forward to Bob’s continued contributions to GM for the remainder of 2009 – and I know the impact of his efforts leading GM global product development will continue for years to come.

Stephens is GM’s Executive Vice President, Global Powertrain and Global Quality. In his new role, he’ll report directly to COO Fritz Henderson and he’ll continue to oversee GM’s global quality activity, the automaker said in a release.

We’ll bring you more coverage as we learn more about this story today.

FRANKFURT — General Motors expects at least three bids for its European business by the close of business Wednesday, a spokesman for G.M. Europe said.
G.M. anticipates that the bids for Opel and Vauxhall will be reviewed simultaneously by the German government, which will play a large role because it holds the key to financing any deal. “Then they will be examined by experts at the economics ministry as well,” the spokesman, Frank Klaas, said.
The bids, which may include a submission from a fourth party that emerged in the last day, will kick off what could be a monthslong process to chose which company gets control of — or a major stake in — the prime European property that G.M. will disgorge as a result of its financial difficulties.
The three probable bidders are Fiat, the Italian auto company; Magna International, a Canadian company that has backing from a Russian carmaker and bank; and a private equity investor, Ripplewood Holdings.
The situation now being envisioned by G.M. and German officials includes the possibility that Opel’s assets would be placed into a new company if G.M. goes into bankruptcy after the June 1 deadline the United States government has set for a credible restructuring plan.
In theory, the process could push a final decision, beyond national elections in September. Chancellor Angela Merkel of Germany has lost ground in opinion polls to free-market voters, who have been angered by bailouts of other industries, notably banks.
A meeting in Berlin among German state governors and bankers on Monday increased the likelihood that Opel would get some sort of bridge financing to avoid being dragged into any bankruptcy proceedings. G.M. Europe’s president, Carl-Peter Forster, said the European operations, which include the British brand Vauxhall, need 1 billion to 2 billion euros, or $1.37 billion to $2.74 billion, to hang on for the next few months.
“This discussion was about the clarification of questions related to the bridge financing,” Ulrich Wilhelm, a German government spokesman, said. “Good progress was made; further steps will be taken.”
German officials are mulling a financing structure that would bring in federal and state governments, as well as some of the public regional banks in Germany.
The bid by Magna has taken on a political dimension because it is supported by Gaz, a Russian automaker, and Sberbank, a Russian bank. Commercially, this has some appeal to G.M. because of Opel’s recent strides in the Russian market, despite a 25 percent import duty, which would disappear if Opel struck an alliance with Gaz.
German politicians with deep ties to Russia, including former Chancellor Gerhard Schröder, have helped ease the way for the Magna-Gaz-Sberbank bid in Berlin, a person with knowledge of the situation said. Mr. Schröder maintains a close friendship with Vladimir V. Putin, the Russian prime minister.
Fiat, which wants a partnership with Opel to complement the deal it recently struck for a stake in Chrysler, kicked off the week by wooing Opel’s powerful employee leader, Klaus Franz. Mr. Franz has fretted that a deal with Fiat would cost more jobs than one with Magna, which would offer Opel free reign to expand in Europe.
Perhaps sensing that Fiat has an uphill battle, its chief executive, Sergio Marchionne, traveled to Frankfurt, near Opel’s headquarters in Rüsselsheim, to meet with labor leaders on Monday. Fiat does not want to put cash into Opel and instead is offering what it says are valuable management skills and technology, a fact that has grated on labor leaders.
G.M. wants to keep a stake in Opel, and would prefer to get cash for what it does give up, a fact that could disadvantage Fiat.
Observers give Ripplewood little chance of winning the race for Opel, primarily because German labor groups and many politicians cultivate a deep suspicion of private equity groups. But G.M. has promised to examine all bids fairly.

Berlin - Three firms lodged bids with Berlin to take over parts of General Motors Europe (GME) before a Wednesday deadline, which was set by the German government, a GME spokesman said in Frankfurt.
The bidders were carmaker Fiat of Italy, Canadian-based automotive components and assembly group Magna and US-based private-equity group Ripplewood. The German government is expected to participate in a bail-out of GME, which makes Opel and Vauxhall cars.
Germany had demanded a broad plan from each bidder by Wednesday, with details to be negotiated later.
Fiat said in Turin that if its takeover offer were accepted, a new group would be formed, embracing Fiat, Opel, Vauxhall and Chrysler.
Magna, which has major interests in Austria, filed a proposal in conjunction with Russia automotive group GAZ and Russia's Sberbank, according to a German newspaper, the Rheinische Post.
Ripplewood's interest, via its European subsidiary RHJ, was confirmed by GME.
Earlier, the German state of Hesse, home to the main Opel factory, had pledged to guarantee a generous bridging loan.
The Hesse finance ministry said it would post 447 million euros (608 million dollars) to back the ailing carmaker and top up a combined offer of 303 million euros from three other states with Opel factories.
In all, Germany has agreed to offer a 1.5-billion-euro bridging loan to keep Opel afloat until a new investor comes on board, so the federal government in Berlin would have to top up the states' contributions with a further 750 million euros.
The regional pledges stood in direct proportion to the distribution of Opel employees in four states: North Rhine- Westphalia, Rhineland-Palatinate, Thuringia and Hesse.
In total, Opel employs about 25,000 people in Germany. The government has also been asked to take over some Opel liabilities.
German Labour Minister Olaf Scholz said that Opel's fate should be decided by the end of the month. Chancellor Angela Merkel held talks Wednesday with the ministers involved in an Opel bailout.
Meanwhile, GM must present the US government with a viable strategy for survival by May 29.
The final decision on the future of GM's European subsidiary will be reached by GM and the US government, but Germany has a stake in the decision as any outcome is likely to rely on the German state guarantees.
Once delivered, the bids will be rigorously examined by authorities in Berlin - parallel to deliberations in Washington and Detroit - before any decision is made public.
German government spokesman Ulrich Wilhelm said after Wednesday's talks that the ministers would meet again this week to discuss the proposals.
A German delegation is on standby to travel to Washington for negotiations over the weekend. German Economics Minister Karl-Theodor zu Guttenberg has not confirmed whether he would accompany the group.
Within GM ranks, bankruptcy is now thought to be nigh on inevitable. GM's European head Carl-Peter Forster has said that Opel could continue to operate nonetheless and would retain access to the required technologies.
Within Germany, Guttenberg has said that an 'orderly insolvency' was a conceivable option for Opel.

Magna, which has major interests in Austria, filed a proposal in conjunction with Russia automotive group GAZ and Russia's Sberbank, according to a German newspaper, the Rheinische Post.

May 26 (Bloomberg) -- Fiat SpA’s revised offer for General Motors Corp.’s Opel division, which may require 3 billion euros ($4.19 billion) in German government loan guarantees, doesn’t provide a broad enough car-industry concept to win backing, a state minister involved in the talks said.
Fiat would eliminate fewer than 10,000 jobs in Europe, including 1,600 to 2,000 positions in Germany, according to two people familiar with the plan. The guarantees would be part of 6 billion euros in backing that the Turin, Italy-based carmaker would seek from governments across Europe, said the people, who asked not to be identified because the plan is confidential.
“Whoever presents a concept with an unsound basis and then rushes to improve on it acknowledges that the plan was flawed in the first place,” Hendrik Hering, Rhineland-Palatinate’s economy minister, said in a phone interview. “I can’t imagine” that Fiat’s improved offer will dispel doubts, he said today. Hering declined to disclose details of Fiat’s new proposal.
GM is selling a majority stake in Ruesselsheim, Germany- based Opel, including the U.K. Vauxhall brand, to secure the unit’s survival as the U.S. parent company faces a deadline of June 1 to reorganize or go into bankruptcy.
Fiat’s competitors for the Opel stake are Magna International Inc., Canada’s biggest car-parts maker, and RHJ International SA, an investment fund with automotive assets including some former holdings of private-equity firm Ripplewood Holdings LLC. German federal and state government officials aim to decide tomorrow on which offer they’ll support.
Magna’s ‘Pole Position’
Magna is “in the clear pole position” for the acquisition, Klaus Franz, the top labor representative at GM Europe, said today at a news conference at Opel’s headquarters near Frankfurt. Workers have a say in the sale because the business plan calls for $1.2 billion in concessions from GM Europe employees.
Opel would lose about 10,000 jobs under all three bids, Franz said. Aurora, Ontario-based Magna’s concept comes the closest to providing long-term prospects for Opel, while RHJ’s “interesting” proposal is more open to holdings in Opel by dealers and employees, Franz said. Fiat’s would “dramatically worsen” overcapacity, he said.
Magna’s business plan is “more profound” than Fiat’s because it aims to supply Opel with vehicle parts directly and allow the GM division to develop ties with other suppliers, Hering said. The offer by Fiat, Italy’s biggest manufacturer, uses “old concepts” and focuses on production cuts to prevent an overlap with Opel models, he said.
States’ Backing
The four German states with Opel factories favor Magna’s proposal, Hering said on May 20, the day the three suitors submitted bids.
German Chancellor Angela Merkel and Economy Minister Karl- Theodor zu Guttenberg met Fiat Chief Executive Officer Sergio Marchionne in Berlin today. All bidders need to revise their proposals to reduce risks for Opel’s employees, Guttenberg told reporters afterward, calling the Italian company’s proposal “not bad.”
Marchionne, calling the talks “constructive,” said in a Bloomberg Television interview that “it’s a lottery right now” as to which suitor will win government backing.
Detroit-based GM employs 55,000 workers in Europe, with Opel’s workforce in Germany totaling 25,000 people. Executives from Magna and Brussels-based RHJ met GM Europe labor leaders in Ruesselsheim today. Fiat didn’t send a representative, which Franz called a “provocation.”
Transaction Timeline
Opel is likely to be insulated from a GM bankruptcy, while completion of the European division’s reorganization program may take three to six months, Franz said.
Merkel, facing reelection on Sept. 27, is keen to secure the survival of Opel, Germany’s second-largest carmaker after Volkswagen AG. Guttenberg said on May 10 that he’s considering putting Opel into a government-backed trust until an investor agreement is reached. The minister said on May 24 that an “orderly insolvency” for Opel may be the best option. Franz said today that he thought the move would be unlikely.
Magna’s proposal, which would be backed by as much as 5 billion euros in state aid, foresees a partnership with Russian carmaker OAO GAZ. The Canadian company would take 20 percent of Opel while GM, the German division’s owner for 80 years, and Moscow-based OAO Sberbank, Russia’s biggest lender, would each hold 35 percent. Employees would receive 10 percent. Magna said the takeover would include a 700 million-euro investment.
Non-Cash Offer
Fiat’s initial request for European government-loan guarantees was 7 billion euros, according to people familiar with the matter. The company would contribute factories and assets from its own automaking operations, but not cash. Fiat’s bid, which also involves GM’s business in Latin America, is part of a plan to create a global automaker that would include a stake in Auburn Hills, Michigan-based Chrysler LLC.
Labor leaders said on May 13 that combining Fiat and Opel may eliminate 18,000 car-industry jobs in Europe.

GM has announced it will begin repaying some $6.7 billion in US government loans ahead of schedule.

According to the Detroit News, GM will be making a $1 billion payment on December 31 and follow with another $1 billion payment each quarter until the middle of 2010. The loans are due by 2015.

GM will also begin repaying its $1.4 billion in loans from the Canadian goverment and from the government of the province of Ontario. The Detroit automaker will make payments totalling $200 million quarterly to both.

GM hopes to clear up about half of its debt before once again going public. GM, now majority owned by the US government, is planning a return to private ownership with an intitial public offering sometime after the middle of 2010.

But the figures do not provide as much good news for US taxpayers as it may seem. GM received almost $50 billion in bailout cash from the US Treasury, most of which the US government later swapped for its 60.8 percent stake in the new GM. According to the White House auto czar Steve Rattner, taxpayers will lose about $25 billion in the bailout.

The total amount of GM's losses since 2004? That would be 88 billion dollars.