North American Auto Industry Crisis news **Pontiac's Last Day (page 28)**
11-04-2009, 02:56 PM
#1081
The sizzle in the Steak
Thread Starter
11-04-2009, 04:28 PM
#1082
Senior Moderator
GM losing Opel would be like them hacking off a limb. Opel is the source for some of the better-looking GM models lately.
11-04-2009, 05:11 PM
#1083
6G TLX-S
Not just lately. European GM models have always been better looking than NA GM models, same with the better looking European Ford models over NA Ford models.
11-05-2009, 10:40 AM
#1085
I'm the Firestarter
http://www.theglobeandmail.com/repor...rticle1351952/
Doesn't sound like staying with GM sounds good to Opel employees.
Opel workers stage mass protests across Germany
Thousands of the 25,000 employees from the auto maker's four German factories vented their frustration and anger at GM on Thursday
Thousands of the 25,000 employees from the auto maker's four German factories vented their frustration and anger at GM on Thursday
Doesn't sound like staying with GM sounds good to Opel employees.
11-05-2009, 03:51 PM
#1086
6G TLX-S
http://www.theglobeandmail.com/repor...rticle1351952/
Doesn't sound like staying with GM sounds good to Opel employees.
Doesn't sound like staying with GM sounds good to Opel employees.
11-24-2009, 11:37 AM
#1087
Whats up with RDX owners?
iTrader: (9)
Saab to Koenigsegg deal - OFF
http://www.cnbc.com/id/34128703
General Motors' agreement to sell its Saab Automobile unit to a Swedish car maker has fallen apart, CNBC has learned, raising questions about Saab's ability to survive.
GM confirmed that Koenigsegg of Sweden pulled out of the deal to buy Saab, whose sales have plunged 61.5 percent this year, with only 7,400 being sold in the US.
"The time factor has always been critical for our strategy to breathe new life into the company," Koenigsegg said in a press release Tuesday, about five months after the two sides had reached a preliminary deal.
A source told Reuters that GM's board will meet next Tuesday to consider Saab's fate.
GM has not been in active discussions with any other bidders for Saab and the decision by Koenigsegg to end the deal means that a wind-down of the Swedish brand is now likely, the source said.
"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand."
The development represents a setback for GM, which has been working to shed brands as part of a more narrowly focused sales strategy after emerging from a bankruptcy in July backed by over $50 billion in U.S. government financing.
A tentative deal by GM to sell its Saturn brand to Penske Automotive Group also collapsed at the end of September, just before it was expected to close.
The Koenigsegg deal, reported in June, was one of the the most unlikely pairings in automotive history, with a tiny sports car firm of 45 people agreeing to take over a company that employs around 3,400.
GM Europe expected the deal to bring $600 million of financing from the European Investment Bank, guaranteed by the Swedish government. It was expected to close by the end of the third quarter.
Like its U.S. parent, Saab has been in bankruptcy protection. It had said it needed $1 billion to see it through the crisis and has asked creditors to write off 75 percent of its 10.6 billion crown ($1.4 billion) debt, most of which was owed to GM.
Koenigsegg had backing from Norwegian entrepreneur Bard Eker, whose holding company owns 49 percent of the car maker.
GM confirmed that Koenigsegg of Sweden pulled out of the deal to buy Saab, whose sales have plunged 61.5 percent this year, with only 7,400 being sold in the US.
"The time factor has always been critical for our strategy to breathe new life into the company," Koenigsegg said in a press release Tuesday, about five months after the two sides had reached a preliminary deal.
A source told Reuters that GM's board will meet next Tuesday to consider Saab's fate.
GM has not been in active discussions with any other bidders for Saab and the decision by Koenigsegg to end the deal means that a wind-down of the Swedish brand is now likely, the source said.
"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand."
The development represents a setback for GM, which has been working to shed brands as part of a more narrowly focused sales strategy after emerging from a bankruptcy in July backed by over $50 billion in U.S. government financing.
A tentative deal by GM to sell its Saturn brand to Penske Automotive Group also collapsed at the end of September, just before it was expected to close.
The Koenigsegg deal, reported in June, was one of the the most unlikely pairings in automotive history, with a tiny sports car firm of 45 people agreeing to take over a company that employs around 3,400.
GM Europe expected the deal to bring $600 million of financing from the European Investment Bank, guaranteed by the Swedish government. It was expected to close by the end of the third quarter.
Like its U.S. parent, Saab has been in bankruptcy protection. It had said it needed $1 billion to see it through the crisis and has asked creditors to write off 75 percent of its 10.6 billion crown ($1.4 billion) debt, most of which was owed to GM.
Koenigsegg had backing from Norwegian entrepreneur Bard Eker, whose holding company owns 49 percent of the car maker.
11-24-2009, 11:52 AM
#1088
Senior Moderator
Time to shut Saab down. No one wants it....time to go.
I don't want my tax dollars used to keep it open.
I don't want my tax dollars used to keep it open.
11-24-2009, 12:10 PM
#1089
The sizzle in the Steak
Thread Starter
China will buy Saab.
11-24-2009, 01:53 PM
#1092
The sizzle in the Steak
Thread Starter
11-24-2009, 02:46 PM
#1093
Senior Moderator
11-24-2009, 11:12 PM
#1095
6G TLX-S
11-25-2009, 10:17 AM
#1096
The sizzle in the Steak
Thread Starter
02-24-2010, 03:10 PM
#1097
Not Registered
G.M. to Close Hummer After Sale Collapses
By NICK BUNKLEY
Published: February 24, 2010
DETROIT — Hummer, the brand of big sport-utility vehicles that became synonymous with the term “gas guzzler,” is being shut down after a deal to sell it to a Chinese manufacturer fell apart, General Motors said Wednesday.
G.M. said only that its planned sale of Hummer to the Sichuan Tengzhong Heavy Industrial Machines Company “cannot be completed,” without giving a reason, but the $150 million deal had been stalled as the companies awaited approval from the Chinese government. G.M. had been trying to sell Hummer for a year, and struck a preliminary deal with Tengzhong last June.
The two companies had planned to close the deal by the end of January, then delayed the deadline by a month in the hopes of getting the green light from China.
“We have since considered a number of possibilities for Hummer along the way, and we are disappointed that the deal with Tengzhong could not be completed," John Smith, G.M.’s vice president of corporate planning and alliances, said in a statement. "G.M. will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."
It was the third time since G.M. emerged from bankruptcy protection last year that a deal to sell one of its unwanted brands collapsed. The company is shutting down Saturn after a sale fell through, and it began to halt operations at Saab after an agreement with Koenigsegg AB in Sweden was called off. G.M. later reached an agreement with a Dutch company, Spyker Cars; that deal closed Tuesday.
G.M. also is closing Pontiac but it never attempted to sell that brand.
G.M. said it still would honor Hummer warranties and provide service and parts to current Hummer owners worldwide. Hummer has nearly 400 dealerships globally.
The deal would have made Tengzhong the first Chinese company to sell vehicles in North America, though it planned to keep Hummer’s operations in the United States.
By NICK BUNKLEY
Published: February 24, 2010
DETROIT — Hummer, the brand of big sport-utility vehicles that became synonymous with the term “gas guzzler,” is being shut down after a deal to sell it to a Chinese manufacturer fell apart, General Motors said Wednesday.
G.M. said only that its planned sale of Hummer to the Sichuan Tengzhong Heavy Industrial Machines Company “cannot be completed,” without giving a reason, but the $150 million deal had been stalled as the companies awaited approval from the Chinese government. G.M. had been trying to sell Hummer for a year, and struck a preliminary deal with Tengzhong last June.
The two companies had planned to close the deal by the end of January, then delayed the deadline by a month in the hopes of getting the green light from China.
“We have since considered a number of possibilities for Hummer along the way, and we are disappointed that the deal with Tengzhong could not be completed," John Smith, G.M.’s vice president of corporate planning and alliances, said in a statement. "G.M. will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."
It was the third time since G.M. emerged from bankruptcy protection last year that a deal to sell one of its unwanted brands collapsed. The company is shutting down Saturn after a sale fell through, and it began to halt operations at Saab after an agreement with Koenigsegg AB in Sweden was called off. G.M. later reached an agreement with a Dutch company, Spyker Cars; that deal closed Tuesday.
G.M. also is closing Pontiac but it never attempted to sell that brand.
G.M. said it still would honor Hummer warranties and provide service and parts to current Hummer owners worldwide. Hummer has nearly 400 dealerships globally.
The deal would have made Tengzhong the first Chinese company to sell vehicles in North America, though it planned to keep Hummer’s operations in the United States.
02-24-2010, 03:17 PM
#1098
Senior Moderator
GM just can't get rid of its brands. Might as well give them out for free now....
02-24-2010, 03:24 PM
#1099
I drive a Subata.
iTrader: (1)
sucks for them
02-24-2010, 04:26 PM
#1100
Team Owner
I wonder what this would do for the value of current Hummers. Was production low enough for H1/H2 for them to be considered rare?
02-25-2010, 03:25 AM
#1102
Registered but harmless
Join Date: Aug 2005
Location: Los Angeles, CA
Age: 59
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764 Posts
H1s - less than 12,000 total.
H2s- over 150,000 sold.
Not rare enough, IMO.
Or just get a Yukon/Tahoe, on which the H2 was based.
I really dislike status symbol SUVs, and any SUV which is used as an urban commuter vehicle, both of which the H2 exemplifies.
H2s- over 150,000 sold.
Not rare enough, IMO.
Or just get a Yukon/Tahoe, on which the H2 was based.
I really dislike status symbol SUVs, and any SUV which is used as an urban commuter vehicle, both of which the H2 exemplifies.
06-22-2010, 09:36 AM
#1104
Safety Car
Ad Spending
The biggest automakers in the U.S.market spent nearly 23 percent less last year on measured media advertising -- no surprise in a year when auto sales fell 21 percent to the lowest level since 1982, according to a newly published analysis.
Total advertising spending among the top 100 advertisers in the United States fell 10 percent in 2009, Advertising Age, a sister publication of Automotive News, reported today in its “100 Leading National Advertisers” issue.
The drop in advertising reflects the sharp decline in consumer spending last year.
Procter & Gamble Co. topped the list with ad spending of $4.2 billion last year, down 13 percent. It was followed by Verizon and AT&T Corp.
Nine automotive companies made the list, and all except Volkswagen showed a significantly steeper-than-average decline in advertising spending in 2009.
Measured ad spending in the automotive industry is the second-largest advertising category after retail, says Ad Age.
The nine automakers on the list collectively spent $8.58 billion on all advertising last year, down 23 percent from $11.18 billion in 2009.
Even with a brief stint in bankruptcy last year, General Motors Co. retained its No. 4 ranking on the list, despite a 22 percent drop in advertising spending to $2.21 billion last year.
Ford Motor Co., the only one of the Detroit 3 not to go bankrupt last year, fell to 15th place from 13th place a year earlier. It spent $1.52 billion, a decline of about 18 percent.
Toyota Motor Corp. ranked 24th, down from 19th place. It spent $1.29 billion, a drop of 18 percent.
Spending at American Honda Motor Co. declined 25 percent to $935.9 million. Honda fell 10 spots on the list to 36th.
Chrysler Group was 43rd, down from 36th, and spending dropped 27 percent to $824.6 million.
Nissan Motor Co.'s rank and spending tumbled the most among automakers on the Ad Age list. Nissan ranked 54th, down from 31st in 2008, with a 42 percent spending decline to $690.9 million.
Hyundai Motor Co. spent $401.7 million in 2009, a decline of about 22 percent that put it in 84th place, down from 73rd in 2008.
Volkswagen AG rose to 88th place from 90th in 2008. VW's spending fell only about 10 percent to $368 million.
Daimler AG, the last car company on the list, fell to 99th place from 84th. Its spending totaled $338.5 million, down 22 percent from 2008.
10-31-2010, 12:15 PM
#1106
Safety Car
RIP Pontiac
After 84 years, General Motors officially says goodbye forever today to Pontiac. No more Bonnevilles. No more Firebird Trans Ams. No more GTOs.
The New York Times just wrote an obituary for the brand:
It was 84 years old. The cause of death was in dispute. Fans said Pontiac's wounds were self-inflicted, while General Motors blamed a terminal illness contracted during last year's bankruptcy. Pontiac built its last car nearly a year ago, but the official end was set for Oct. 31, when G.M.'s agreements with Pontiac dealers expire.
The Times pays special attention to the GTO, brainchild of engineering bon vivant John DeLorean, who went on to create the car in his own name and to get caught, and later acquitted, in a FBI cocaine sting.Even now, long after Pontiac disappeared from the headlines and sales lots but before today's official end, it seems strange for it to be gone.
Remember Pontiac excitement?:
The numerous attempts to revive the brand, and Oldsmobile before it? We thought some of those efforts, resulting in cars like the fun Solstice, above, were wholly worthwhile.
But without Pontiac, it's interesting to see what GM is making of the four brands that it has left. Buick fills the niche now left by Pontiac, and while it's not a performance brand, it's clear that GM is putting a lot more resources behind Buick than it ever did when it was another name in the underfunded pack.
So goodbye Pontiac. We will still be driving the GTOs and Trans Ams that you leave behind for decades.
10-31-2010, 02:11 PM
#1107
Whats up with RDX owners?
iTrader: (9)
Wait, Pontiac died now? I thought they were gone months ago?
10-31-2010, 07:39 PM
#1109
some friends we've lost over the year
Plymouth
Oldsmobile
Daewoo
Hummer
Pontiac
Did I leave anyone out? I believe Mercury is circling the drain hole at this moment.
Plymouth
Oldsmobile
Daewoo
Hummer
Pontiac
Did I leave anyone out? I believe Mercury is circling the drain hole at this moment.
10-31-2010, 07:42 PM
#1110
Senior Moderator
10-31-2010, 07:55 PM
#1111
Whats up with RDX owners?
iTrader: (9)
10-31-2010, 09:11 PM
#1113
Whats up with RDX owners?
iTrader: (9)
Daewoo is still in business, just not here. Kind of like Isuzu.
10-31-2010, 09:28 PM
#1115
Whats up with RDX owners?
iTrader: (9)
Or were you referring to the Aveo? If so, yes it is still sold here.
Last edited by civicdrivr; 10-31-2010 at 09:30 PM.
11-01-2010, 09:49 AM
#1118
Senior Moderator
Pontiac... 
11-01-2010, 11:03 AM
#1120
fap fap fap
