Filed under: Government/Legal , Chrysler , GM , Earnings/Financials 2008 was one crazy, almost surreal year. It was the year when the economy took a nosedive, and the U.S. auto industry nearly ceased to exist.
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Report: Memo says Bush administration almost pushed GM and Chrysler into earlier bankruptcy
Unidentified managers within the VW hierarchy have confirmed that they will set up a a holding company to take control temporarily. It is believed by completing the transaction before 2014 will save the company EUR 1 billion in taxes.
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VW to finalise Porsche takover for EUR 3.9billion
Filed under: New York Auto Show , Etc. , Government/Legal New York Governor Andrew M. Cuomo has big plans for the Jacob K. Javits Center.
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Report: Governor plans to tear down newly renovated Jacob Javits Center, NY Auto Show home
Filed under: Car Buying , Hybrid , Sedan , Etc. , Technology , Chevrolet , GM , Electric General Motors is having a hard time with the Chevrolet Volt . First, the National Highway Traffic Safety Administration opened a probe into the vehicle over the possibility of post-crash fires , and now some of its dealers are refusing to take their allocations of the extended-range plug-in hybrid. For example, according to Automotive News , GM set aside 104 Volt models for 14 dealerships across the greater New York City market
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Report: Some Chevy dealers rejecting further Volt allocations
Filed under: China , Saab , Middle East The next chapter in the Saab opera has a new protagonist called Brightwell Holdings, a Turkish private equity firm. Brightwell is is perhaps the unknown Turkish entity mentioned last year as having an interest in bankrupt Saab, along with India’s Mahindra & Mahindra . A board member at Brightwell said the company will spend two weeks evaluating Saab’s assets and then will make a bid, “there’s no question.” Turkey doesn’t have a national car company, but it does have plenty of automotive manufacturing expertise since Ford , Fiat and Renault have factories there. Brightwell has said it would keep Saab production in Trollh
Filed under: Cadillac , Lincoln Cadillac is getting ready to launch the much anticipated rear-drive ATS and new flagship XTS this year. The Lincoln MKZ concept shown at this month’s Detroit Auto Show was very well received, and will be followed by six more new and refreshed vehicles by 2014. Earlier this year, General Motors CEO Dan Akerson told reporters he thought “holy water” should be sprinkled on the Lincoln brand.
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Opinion: Can rivalry between Caddy and Lincoln heat up again?