GM Releases Pricing on 2012 Buick GS and Buick eAssist

GM Releases Pricing on 2012 Buick GS and Buick eAssist

 GM Releases Pricing on 2012 Buick GS and Buick eAssist

 GM Releases Pricing on 2012 Buick GS and Buick eAssist

GM Releases Pricing on 2012 Buick GS and Buick eAssist

GM debuted its eAssist technology, which is actually a mild hybrid, on the 2012 Buick LaCrosse at the 2010 LA Auto Show. With plans to offer the technology on many its other models, the automaker recently introduced the technology on the new Buick Regal at this year’s Chicago Auto Show. Like its LaCrosse counterpart, the eAssist Regal gets significantly improved fuel-economy, achieving 26mpg city and 37mpg highway.

In the Regal, the eAssist system is mated to the model’s 2.4L four-cylinder and uses a 115V lithium-ion battery tied to a small 15 horsepower electric motor. Regenerative braking, automatic start/stop, lower rolling resistance tires on 17-inch alloys, a powerflow readout in the infotainment screen, and an eco guage on the instrument panel all help the Regal get its 26/37 mpg.

The eAssist 2012 Buick Regal will go on sale in the fall of this year. More details can be found in GM’s press release.

Cadillac's Australian Market Launch Postponed Indefinitely

The global meltdown in auto sales has taken its latest victim as GM's Cadillac division has postponed its Australian debut indefinitely. The American luxury brand was initially supposed to be introduced in Australia during the last quarter of 2008, but GM postponed the launch for this February. Now, GM's execs decided that due to the "downturn of the domestic automotive market", it made no sense at all to launch Cadillac in Australia at this time.

"There is only one chance to launch this brand in Australia and in these challenging times, we believe we couldn't give it the best chance of success," said GM Holden Chairman and Managing Director Mark Reuss. "This was a difficult decision but the only viable decision."

"There is no doubt the Cadillac CTS is a magnificent vehicle and the response since it was revealed at the Australian International Motor Show in October has been very positive. But obviously since then the market for new cars has continued to deteriorate, the broader economic environment difficulties remain largely unchanged and the exchange rate has worsened for imports," Reuss added.

While only time will tell if the American automaker made the right decision - or not, we must say that if anything else, GM's on-and-off affair with Cadillac's Australian launch, doesn't sound very professional...

Thanks for the tip Matt!

R.I.P.: GM Cancels 2010 Pontiac G8 ST Sport Truck

Despite all the hype that Pontiac created for its Holden Commodore Ute based G8 ST, General Motors has decided to cancel the sports truck that was scheduled to hit U.S. dealerships this fall. The announcement was made today to the company's dealers. From the looks of it, GM is planning to reduce Pontiac's line-up to only a few models in order to create a 'niche brand' as promised in its bailout plan to Congress at the end of 2008.

"With Pontiac being more focused on sporty fun to drive cars, we took a long look at the ST and it didn't fit with what our future vision of Pontiac would be," Hopson told Automotive News. "At that point, we decided to not proceed with this vehicle." Smart move or a mistake on GM's behalf? Have your say in the comment section below.

Source: Autonews (Sub. Req.)

GM's U.S. December Sales Fall 31%, 2008 YTD Sales Down 23%

Once again, General Motors recorded a significant drop in U.S. sales in December delivering 221,983 vehicles, down 31 percent compared with a year ago. GM's December car sales of 87,506 units were off 25 percent while its truck sales of 134,477 units were down 35 percent compared to the same month last year. Despite the plunge, GM officials seemed happy to report that December deliveries were up 30 percent compared with October and up 43 percent compared with November.

"Given the ongoing challenges and the difficult market environment, we were very encouraged to see a volume rebound for GM in December compared with both October and November," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing.

"We are building more vehicles than ever that provide great value and Americans enjoy owning. That is why, for the year, we are seeing our market share holding steady at just above 22 percent. That's 5 percentage points more and 760,000 vehicles more than our nearest competitor," added LaNeve.

For the year, GM sold 2,980,688 vehicles in the U.S. -down 23 percent compared with 2007, which allowed the company to maintain a market share just above 22 percent.

GM Offers New Loans as low as 0% to Revive Sales

Strengthened by a $6 billion federal bailout, General Motors financing arm GMAC LLC, has not only resumed lending to customers with low credit scores in the U.S., but has also announced new reduced rate financing for up to 60 months on select cars and trucks. The rates that range from zero interest to 5.9 percent annually, are available to qualified buyers today through January 5, 2009 on many 2008 and select 2009MY vehicles (see the complete list after the jump). Many of the vehicles listed have can also be financed with cash rebated ranging from $500 to $4,250.

"We're very excited to offer this reduced rate financing through GMAC to encourage our customers to get back into the game," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "This enables even more qualified customers to finance through GMAC at their local GM dealership, and provides additional financing capacity with conventional and reduced rate APRs for our dealers to make sales."

2008MY vehicles and offers for qualified buyers:

• 0% APR for up to 60 months on '08 Chevrolet TrailBlazer; GMC Envoy; and Saab 9-3, 9-5, 9-7X
  
• 0.9% APR for up to 60 months on '08 Buick Lucerne
  
• 1.9% APR for up to 60 months on '08 GMC Yukon and Yukon XL; Chevrolet Tahoe, Suburban and Avalanche; Cadillac CTS, SRX, Escalade, DTS, STS and XLR
  
• 2.9% APR for up to 60 months on '08 Buick Lacrosse; HUMMER H2 and H3
  
• 3.9% APR for up to 60 months on '08 Chevrolet Equinox, Colorado Ext and Crew cab and Light Duty Silverado; Pontiac Torrent; GMC Canyon Ext and Crew cab, and Light Duty Sierra
  
• 4.9% APR for up to 60 months on '08 Saturn Astra and Sky; Pontiac Solstice; Chevrolet Corvette and Heavy Duty Silverado; and Heavy Duty GMC Sierra

2009MY vehicles and offers for qualified buyers:

• 3.9% APR for up to 60 months on '09 Chevrolet Cobalt; Pontiac G5; and Cadillac CTS
  
• 4.9% APR for up to 60 months on '09 Pontiac G6; Chevrolet Malibu, Light Duty Silverado and HHR; Saturn Aura; and Light Duty GMC Sierra
  
• 5.9% APR for up to 60 months on '09 Chevrolet Avalanche and Heavy Duty Silverado; and Heavy Duty GMC Sierra

GM's Holden to Build New Compact Model Based on Opel Astra & Chevy Cruze

The official teaser sketch you see above gives us our first glimpse of Holden's upcoming, Australian built compact car that will available in late 2010 in both four-door sedan and hatchback versions. The yet unnamed compact model will be based on GM's global Delta small car architecture that underpins the Chevy Cruze as well as the next-generation Opel / Vauxhall / Saturn Astra. It will be GM Holden's first locally produced car beyond the Commodore (sold in the States as the Pontiac G8) since the demise of the Vectra production in 1998.

Local design and engineering work on the Australian vehicle will take place at GM Holden's Port Melbourne headquarters in the State of Victoria. The front-wheel drive model will be offered with an array of 4-cylinder direct injected petrol and diesel engines while Holden said that it is also considering a range of alternative fuel or fuel saving technologies including E85, LPG, CNG and start-stop hybrid capability.

Further details about the compact model including its nameplate, design specifications and pricing will be revealed at a later date.

Production of Holden's second carline at the firm's Elizabeth manufacturing facility in South Australia will start in the third quarter of 2010 with support from the Federal and South Australian Governments. According to GM's Australian subsidiary, the program will require 500 to 600 existing employees at Elizabeth and is estimated to provide 500 to 600 local supplier positions.

GM Holden Chairman and Managing Director, Mark Reuss said the announcement provided opportunity to take a leading role in developing alternative fuel and fuel saving technologies in Australia for Australians. Mr Reuss said the program would be a major contributor to the economy, generating an estimated $70 million to $80 million in wages and $30 million in research and development.

"Together with Government, we are extending the scope and consumer appeal of our local manufacturing efforts," Mr Reuss said. "We have been building Holden cars to suit the needs of Australian motorists for 60 years. These plans build on that tradition. We recognise the needs and desires of motorists are evolving with growing concern around environmental factors and shifting consumer sentiment."

"Just as our leading Commodore range will continue to undergo technological development, this new vehicle will cater for growing demand for smaller cars focussed on economy," Mr Reuss added.

Bush Administration Grants $17.4 Billion Loans to GM and Chrysler

Detroit's Big-Three automakers may have failed to convince the Congress last week to provide $14 billion in loans, but when there's a will, there's a way. In an unprecedented move, the Bush Administration granted GM and Chrysler LLC $13.4 billion in initial government loans to keep the companies from closing. The money that will be made available in December and January comes from the controversial $700 billion fund that was originally made to rescue struggling financial institutions. Furthermore, the two American automakers will receive an additional $4 billion from the fund in February according to a statement from the Bush Administration.

"Under ordinary economic circumstances, I would say this is the price that failed companies must pay," said President Bush. "And I would not favor intervening to prevent the automakers from going out of business. But these are not ordinary circumstances. In the midst of a financial crisis and a recession, allowing the U.S. auto industry to collapse is not a responsible course of action."

General Motors

"We appreciate the President extending a financial bridge at this most critical time for the U.S. auto industry and our nation's economy. This action helps to preserve many jobs, and supports the continued operation of GM and the many suppliers, dealers and small businesses across the country that depend on us," said GM in a statement.

Chrysler LLC

Chrysler LLC Chairman and CEO Bob Nardelli said on behalf of the men and women of the company and its extended enterprise, that he would like to thank the Administration and Treasury for their confidence in the Company.

"A letter of intent was signed which outlines the specific requirements (1) that must be achieved," said Nardelli. "These requirements (2...) will require (3...) consideration from all constituents, requiring (4 - and we're not over yet) commitment first in principal, leading to implementation this coming year. Chrysler is committed to meeting these requirements (5 - Boy, Nardelli does loves to require...)."

Ford Motor Company

Though Ford did not need a loan itself, the company welcomed the action by the Administration to provide emergency funding for GM and Chrysler LLC. "As we told Congress, Ford is in a different position. We do not face a near-term liquidity issue, and we are not seeking short-term financial assistance from the government," Ford President and CEO Alan Mulally said.

"But all of us at Ford appreciate the prudent step the Administration has taken to address the near-term liquidity issues of GM and Chrysler. The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy," he added

GM Selling Off its Past at Barret-Jackson Auction

These are very sad days for General Motors which is so desperate for cash that it has decided to sell off around 250 vehicles from its Heritage Museum Collection at the upcoming Barrett-Jackson auction that takes place in Scotsdale, Arizona from 13-19 January, 2009. Most of the cars that are up for auction are from the 1980s and 1990s though the list does contain older models like a 1955 Buick Century and a 1969 Pontiac GTO Judge as well as -oddly enough- a pair of Peugeot 205 Turbos. Unfortunately for us, Santa won't be bringing any extra cash this year but if you happen to have some savings set aside, you may want to check out the preliminary list after the jump. We're pretty sure that you'll find plenty of interesting cars.

List of Cars

1. 1955 Buick Century
2. Bolero
3. 2001 Blackhawk
4. G6 Rolex Pace
5. 2007 Corvette Indy Pace/copper
6. 2008 Corvette Indy Pace/black
7. 1918 Cadillac
8. 1995 Riveria Convertible
9. 1993 Allante Pace car
10. 1996 Presidential Limo
11. 1998 Popemobile
12. 1999 Eldorod
13. Indy Pennzoil IRL #4 (yellow)
14. Indy Pennzoil Panther Racing (yellow)
15. 2003 EXT - M
16. 2004 CTS Super V
17. 2004 SRX Hot Wheels
18. 2004 SRX SEMA
19. 2005 STS MCE Integration
20. 2006 DTS Appearance Pkg
21. 2007 Escalade Limo
22. 2007 Escalade SEMA
23. 2008 CTS Sport
24. LMP #8
25. 1925 Chevrolet House Car (Blue/Black)
26. 1948 Chevy I-5 Vortech
27. 1960 Impala
28. 1972 Impala
29. 2004 M/C Rock&Roll Pace (blue/yellow)
30. 1987 Chevrolet Sprint Turbo Convertible
31. 1989 Corvette DR-1
32. 1989 Corvette Snake Skinner
33. 1989 Corvette Splash
34. 1989 Corvette ZR-1
35. 1989 Corvette ZR-1 (Dark Red)
36. 1989 Corvette ZR-2 Big Doggie
37. 1989 Tracker Boom Box
38. 1989 Zonker
39. 1990 Corvette Right Hand Steer
40. 1990 Corvette ZR-1 Active
41. 1991 Caprice Classic
42. 1991 Corvette Convertible
43. 1991 Syclone PPG Pace
44. 1991 Tracker Dirt
45. 1992 Corvette ZR-1 First Built (Red)
46. 1992 Impala SS 510
47. 1993 Camaro ZL-1 "572"
48. 1993 Corvette LT-1 Spyder
49. 1993 Typhoon
50. 1994 Corvette (Teal)
51. 1994 Impala SS 6 Speed
52. 1994 Impala Wagon
53. 1994 Tracker Kalahari
54. 1995 Monte Carlo Led Sled
55. 1995 Monte Carlo Pro Street
56. 1996 Camaro Brickyard Pace
57. 1997 Corvette Alpha Build
58. 1997 Corvette Beta Build
59. 1997 Corvette Tiger Shark
60. 2005 M/C Rock&Roll Pace (red)
61. 1997 Monte Carlo Intimidator
62. 1998 Camaro Drag
63. 1998 Corvette First Built
64. 1998 Corvette X-plorers
65. 1999 Corvette C5R Show Car
66. 1999 Corvette Shark
67. 1999 Silverado Tonka
68. 2000 Corvette Z06 Race
69. 2000 Monte Carlo Brickyard #3
70. 2000 Tahoe K5
71. 2001 Impala Low Rider
72. 2001 Monte Carlo Drag
73. Silverado #17 GMAC Racetruck
74. 2001 Silverado Intimidator SS (Black)
75. 2006 Silverado Craftsman Pace Flex Fuel #2
76. 2002 Camaro Police
77. 2002 Cavalier 425 A/FX Drag
78. 2002 Monte Carlo Looney Tunes Pace
79. 2002 S-10 Little Red
80. 2003 Aveo Xtreme
81. 2003 Corvette Lemans Pace #3
82. 2003 Monte Carlo Rock & Roll Race
83. 2004 Aveo X-treme
84. 2004 Colorado SS Dark Cherry
85. 2004 Colorado Xtreme
86. 2004 Colorado Z-71 Vision
87. 2004 Corvette Indy Pace
88. 2004 Impala SS Project Vehicle
89. 2004 Malibu Maxx SS
90. 2004 Malibu Xtreme 2004
91. 2004 Monte Carlo Dale Earnhardt Jr.
92. 2004 Monte Carlo Tony Stewart
93. 2004 Silverado Speedway
94. Solstice "Jazz" Transformer Movie Vehicle
95. 1969 Reggie Jackson Camaro (red)
96. 1990 Beretta Indy Pace
97. 2004 Escalade Pinnacle (black)
98. Holden Race Car #22 (red)
99. 2000 STS Saftey
100. 2007 Yukon "CSI Vegas" (used in filming of show)
101. 2003 Rendezvous CXL
102. 1998 Rivera (teal)
103. 2005 Colorado CC Z71
104. 2005 Corvette Atlantic
105. 2005 Corvette Pacific
106. 2005 Equinox Xtreme
107. 2004 Suburban Quadsteer
108. 2006 HHR Official Tailgate Crew
109. 2006 HHR Open Air
110. 2006 HHR Panel
111. 2006 HHR Panel Tuner
112. 2006 HHR Xplorer Scout
113. 2006 HHR Yearone
114. 1995 Aurora (red)
115. 2007 Avalanche Z-71 Plus
116. 2007 Corvette Z06 First Built (Red)
117. 2007 HHR SS Panel Motor City (Flat Gray)
118. 2007 Silverado "Big Red"
119. 2007 Silverado CC Rally Sport
120. 2007 Silverado Country Music
121. 2007 Silverado E85 Handy Man
122. 1985 Calais "MSU"
123. 2007 Silverado OCC
124. 2007 Silverado Roadside
125. 2007 SilveradoZ71 Orange
126. 2007 Suburban HD Diesel
127. 2007 Suburban Major League Baseball (Blue)
128. 2007 Tahoe Foose
129. 2007 Tahoe US Ski Team
130. Camaro Trans Am 2 seater
131. C/K 1500 Supertruck Chevy 2 Seat
132. Camaro GTZ
133. Camaro LT5
134. Corvette C5 Display Chassis
135. Corvette Purple Smash
136. Corvette Racing Boat
137. Corvette Trailer
138. Corvette ZR1 Rolling Chassis
139. HHR Floral
140. Holden Race Car (Red)
141. Kappa Chassis
142. S-10 Drag
143. S-10 Off Road Truck
144. S-10 Race Truck (Red)
145. S-10 Stadium Truck
146. 2003 Centieme Concept
147. 1916 GMC Stake Truck
148. 1917 GMC Trailer
149. 1948 GMC Firetruck
150. 1978 GMC Suburban (Brown/Cream)
151. 2003 Rollback
152. 2004 Canyon Kayak
153. 2004 Envoy Race Truck
154. 2004 Envoy Water Sports
155. 2007 Sierra All Terrain Crew
156. 2007 Sierra HD Denali
157. Caprice "Fire & Rescue"
158. 2007 Sierra Texas Edition
159. 2007 Yukon Denali Jay-Z (Blue)
160. 2007 Yukon XL Big Max
161. 2007 Yukon All Terrain
162. 2003 Hummer Spring Special
163. 2005 Hummer Dirt Sport
164. 2005 Hummer H2 Slant Back
165. 2006 H3 street
166. 2006 HHR Spring Special (Cappucino Frost)
167. 2007 H2 Safari
168. 2008 H3R SEMA
169. 1994 Corvette HO
170. Corvette ZR 1 Snake Skinner
171. 1904 Olds Touring Runabout
172. 1923 Olds
173. 1931 Olds Chassis
174. 1940 Olds Blue
175. 1949 Olds (Green)
176. 1954 Olds Ninety Eight
177. 1960 Olds 88 (White)
178. 1970 Cutlass SX
179. 1970 Olds 442 W30
180. 1977 Olds Delta 88 Indy Pace
181. 1995 Cutlass Darth Vadar
182. 1995 Cutlass Mobil Net Race
183. 1998 Intrigue 1998 (Blue)
184. 1999 Intrigue 442
185. 1999 Silhouette OSV #2
186. 2001 Bravada Indy Pace
187. 2002 Intrigue Last 2002
188. Aurora Exxon Race GTS (Gold/White)
189. Aurora IRL Race Car Cut-Away #5
190. Aurora IRL Race Car Cut-Away #5
191. 1985 Peugeot 205 Turbo (Gray)
192. 1985 Peugeot 205 Turbo Active (Gray)
193. 1926 Pontiac
194. 1926 Pontiac (Gray/Black)
195. 1968 Pontiac Cataline (White)
196. 1969 Pontiac GTO (Green)
197. 1969 Pontiac GTO Judge (Orange/Yellow)
198. 1980 Pontiac Grand Am Pickup
199. 1994 Firebird Lingenfelter 383
200. 1999 Grand Am SCT
201. 2003 Sunfire X-plores (Yellow)
202. 2006 Solstice DTP (Orange)
203. 1967 GTO XXX Hardtop
204. 1984 Fiero GT 2+2
205. 1986 Firebird Trans Am Kamback
206. 1987 Fiero GT Convertible
207. 1991 Firebird Trans Am Twin Turbo
208. 1993 Firebird IMSA Race car
209. 1994 Firebird Firmula V8
210. 1994 Firebird Trans Am 25th Ann.
211. 1998 Firebird Trans Am Gold Rush
212. 1998 Firebird Trans Am X-plorers
213. 1998 Grand Prix M&M Pace
214. 2000 Bonneville Salt Flats
215. 2000 Firebird Rytek Project
216. 2000 Firebird Trans Am Darth Vader
217. CTS-VR Race Replica (black)
218. 2001 Aztek First Built (Black)
219. 2001 Aztek Pace #1 (Red)
220. 2001 Aztek SRV
221. 2002 Firebird Trans Am Daytona Pace #2
222. 2003 Grand AM Autocross
223. 2003 Vibe Autocross Sema
224. 2003 Vibe FX
225. 2004 Grand Prix GXP SEMA
226. 2004 GTO 1st built
227. 2005 Firedbird Trans Am Collectors Ed.
228. 2005 GTO SEMA
229. 2006 Solstice Red Bull Drifter
230. 2006 Solstice Weekend Racer
231. Fiero Goodwrench Race
232. Grand Am #85 race car
233. Grand Prix (show car)
234. GTO Drag Performance Parts
235. Firebird Mobil Race Car
236. 1991 Saturn 4 Door 1991 (White)
237. 1995 Saturn 1 Millionth
238. 1999 Saturn 2 Millionth
239. 2004 Ion Red Line
240. 2004 Ion Red Line
241. 2004 Ion Red Line
242. 2004 Saturn Vue Spring Special
243. 2004 Vue Red Line Street Play
244. Saturn Lola Race Car
245. 1999 Grand Prix GT (red)
246. Regal Cielo Open Air
247. 2001 Regal GNX
248. 2002 Rendezvous Inca Trail (grey)
249. 2002 Rendezvous Tour Edition SC
250. GTP Ultrlite (teal)
251. 900 Pikes Peak
252. Malibu Friday Night Cruiser

Via: Jalopnik , Source: HRFbody

GM May Reduce Pontiac Line-Up to Just One Model - Which One Should it be?

When it comes to survival, then nothing's absurd. In order for General Motors to stay afloat in these tough economic times, the U.S. automaker has to revaluate its entire strategy and make decisions that were unthinkable up until now - including the shrinkage of Pontiac which currently sells six-model (G8, G6, G5, Solstice, Vibe, and Torrent). "It might be just one model," Mark LaNeve, GM's North American sales chief, said in an interview. The firm that was supposed to build exciting cars has seen drop in sales every year since 1999. In the first 11 months of 2008, sales of the Pontiac brand are down 23 percent from a year earlier to 250,902 units.

"The one remaining Pontiac model would be sold alongside Buicks and GMCs, on a scale similar to its Corvette available in Chevrolet showrooms", LaNeve told Bloomberg. The question is, if GM decided to keep the Pontiac nameplate alive and not can the brand entirely, which car should remain?

According to John Wolkonowicz, an analyst from IHS Global Insight in Lexington, Massachusetts, that model will most likely be the Holden Commodore based G8 sedan which was introduced this year in the U.S. market.

But honestly now, is there a point of GM holding onto the Pontiac brand with a one-model range when it is facing such serious problems that threaten the company's existence?

If the General believes -for whatever reasons- that it needs the G8, why not just sell it under the Chevy nameplate? Yes, once upon a time Pontiac made cars that stood out from the competition and filled GM's pockets with money, but times change and if you can't support a brand with its own unique line-up then we find no reason to keep it alive for sentimental's sake.

Source: Bloomberg

$14 Billion Auto Bailout Faces Serious Opposition in Senate

The U.S. House may have approved the Bush administration's $14 billion emergency bailout plan for Detroit's Big Three late Wednesday, however the bill's fate is uncertain as it still needs to win the support of the Senate. And the omens aren't good for the American automakers. On Thursday, Senate Republican leader Mitch McConnell of Kentucky, talked against the bailout plan that would help General Motors, Chrysler LLC and to a lesser extent, Ford Motor Company, survive the economic crunch over the next few months. Mr McConnel labeled the proposal "not nearly tough enough" on the car sector.

In order for the measure to advance in the Senate, it has to collect 60 votes. Democrats who support the bill, currently hold a 50 to 49 majority in the Senate. On Wednesday's vote, the House passed the $14 billion loan package relatively easy with 237 votes to 170. The measure was supported by 205 Democrats and 32 Republicans who came from States depending on the auto industry while 150 Republicans and 20 Democrats voted against it.

"Even if we grant these companies would fail without taxpayer help, we would still have to ask ourselves whether the proposals before us achieve the goal that everyone claims to embrace, namely the long-term viability of ailing car companies," McConnell said. "In my view, it does not."

"The best route for long term viability for auto companies may be a rocky one," he added referring to a o bankruptcy solution. "Government help is not the only option. It may not be the best option."

Source: Freep

GM Studying European Recharging Infrastructure for Plug-In EVs

General Motors Europe and Spain's Iberdrola which is a leading private electric utilities worldwide and the largest renewable energy operator in the world, have signed an agreement to jointly perform a feasibility study to examine the technical requirements of a recharging infrastructure for the integrated marketing and viability of plug-in electric cars like GM's forthcoming Volt. The main areas of the study will be carried out in Spain and the United Kingdom with the two firms analyzing the requirements for the location of plug sockets in private homes and offices, and public or private parking, and for the installation of electricity meters.

In a joint-statement, GM Europe and Iberdrola said that in case the outcome of the viability study is positive, "both companies anticipate to evaluate possible agreements with the different European, national, regional and local governments, to support the implementation of this initiative".

Ford, GM and Chrysler Seek $6.8 Billion Government Loan from Canada

Having already appealed to the U.S. Congress for an emergency bailout, Detroit's Big Three are now stretching their hands across the border to Canada seeking billions of dollars in loans and credit lines. Ford Motor Company delivered its plan to the federal and Ontario governments on Friday detailing a request for access to a "stand-by" line of credit of up to $2 billion to be used "only if the current economic crisis worsens".

Although both GM and Chrysler LLC announced on Friday that they submitted detailed operational and restructuring plans to Ottawa, neither disclosed the amount of money that they are asking for. However, the Canadian media is reporting that General Motors of Canada has asked for $2.4-billion in loans, with $800-million of that necessary before the end of the year while Chrysler Canada Inc. is said to be seeking $1.6-billion as soon as January 1.

According to Reid Bigland, President and CEO of Chrysler Canada, "Our request for a temporary and fully repayable loan from the Ontario and Canadian Governments is really two-fold. First, to ensure Chrysler has sufficient funds to complete our restructuring activities during what is an unprecedented downturn in vehicle sales caused by the global financial crisis and second, to ensure Chrysler Canada's substantial Canadian manufacturing and operational footprint is protected."

GM Canada President Arturo Elias said, "Regretfully, North American economic conditions now make it necessary for us to seek government assistance to sustain our business and supply chain."

"The company believes it has the liquidity to weather the current economic crisis, however, it is asking for access to government-backed loans in case the economy significantly worsens, or in the event that a major competitor is forced into bankruptcy," said Ford in a statement.

And if you're wondering about the number of people working in Detroit's Big Three Canadian operations, here are the official figures:

Ford has a workforce of 10,000 people in Canada, while an additional 19,000 people are employed in the more than 400 Ford and Ford-Lincoln dealerships across the country. General Motors occupies 12,000 workers nationwide and has approximately 700 dealerships and retailers across Canada. Chrysler has 9,800 workers while its Canada network of 454 Chrysler, Jeep and Dodge dealers across Canada employ around 24,000 people.

Related Story: GM, Ford and Chrysler executives were in Washington on Friday asking for $34 in government loans and credit lines but according to congressional aides, they only succeeded in getting a $15 billion short-term emergency loan

Big Three Bailout: Congress to Give U.S. Automakers $15 Billion in Federal Loans

Faced with the fear that the collapse of one or more of Detroit's Big Three automakers could lead to a domino effect deepening the U.S. economic recession in which half a million people (533,000 to be exact) have already lost their jobs in November, the White House and Congressional Democrats neared an agreement on a $15 billion short-term emergency loan for GM, Ford and Chrysler LLC, congressional aides said late Friday.

Details of the likely deal are still in the works but it is reported that the money will come from a special $25 billion program that was initially intended to help the Big Three develop more energy efficient technologies instead of the $700 billion pool created to aid financial-industry companies. However, Nancy Pelosi, Speaker of the House of Representatives, said that the Big Three must repay this loan "within a matter of weeks."

The proposed $15 billion short-term loan is less than half the money that GM, Chrysler and Ford CEOs hoped to get when they arrived on Capitol Hill on Thursday for the two day hearing. The automakers were seeking $34 billion in aid. Detnews reported that General Motors said it needed $4 billion by the end of the year to make it until January as part of its request for $18 billion while Chrysler was asking for a $4 billion to stay afloat until the end of March. Ford, which appears to be in a better position that the other two automakers said it wanted access to a line of credit of up to $9 billion but only in the case if the economy worsens.

Sources: Detnews & Freep

GM to Cut Production at Four North American Plants and Lay Off 2,000 Workers

At the same time that General Motors CEO Rick Wagoner is making a case for the emergency bailout loan in Washington DC, the automaker announced that it will cut down production at four of its North American plants and as a result, lay off an additional 2,000 workers early next year. GM spokesman Chris Lee said that the company will temporarily halt production at its assembly plants in Lordstown, Ohio; Oshawa, Ontario; and Orion Township, Michigan for the month of January and eliminate the third shift from each factory from February 2009. Furthermore, GM will stop production at its Fairfax plant in Kansas which builds the Chevrolet Malibu and Saturn Aura, for a week during mid-January.

GM Ceases Corporate Jet Operations, Wagoner Will Drive a Malibu to DC...

Bowing over to the harsh criticism from Congress for the use of corporate jets, GM is following in the footsteps of Ford that announced the sale of its five corporate jets in its new business plan. In a statement issued today, GM said that it will cease operations at General Motors Air Transportation Services (GMATS) at Detroit Metro Airport. "Due to significant cutbacks over the past months, GM travel volume no longer justifies a dedicated corporate aircraft operation.GM is currently exploring options for transferring its aircraft to another operator. The company is pursuing sale of four of the aircraft so it can terminate the leases," said GM in a statement.

Moreover, General Motors Corp. spokesman Tony Cervone announced today that GM CEO Rick Wagoner has chosen to drive to Washington for a Congress hearing later this week on the proposed auto bailout. Wagoner will perform the 519-mile trip from Detroit to Capitol Hill in a Chevrolet Malibu hybrid sedan. According to Google maps, it will take Wagoner approximately 8 hours and 50 minutes to travel from GM's HQ in Detroit to Washington DC.

Congress to Detroit's Big 3: "Show us a Plan and We'll Show you the Money"

The U.S. Congress temporarily shut the door to Detroit's Big Three automakers request for a $25 billion emergency loan saying company CEOs have yet to make a case for the aid. Democratic leaders told General Motors, Ford and Chrysler LLC to "get their act together" and submit a viable turnaround plan for survival by December 2 and Congress would meet the week of Dec. 8 to reconsider the government aid. This of course means that even in the event that the automakers succeed in convincing congressional leaders, they won't receive the $25 billion loan until January at the earliest.

"Until we can see a plan where the auto industry is held accountable, and a plan for viability on how they go into the future, we cannot show them the money," said Californian Democrat Speaker, Nancy Pelosi. Senate Majority Leader Harry Reid said: "We're prepared to come back into session the week of December 8 to help the auto industry, but only if they present a viable plan."

The three CEOs, GM's Rick Wagoner, Ford's Alan Mulally, and Chrysler LLC's Robert Nardelli didn't exactly help themselves by flying into Washington on private jets as reported from several new sources including CNN, Telegraph and ABC News. Although the former Big 3 did not disclose how much the flights cost, analyst Richard Aboulafia of the Teal Group told CNN that "$20,000 is a legitimate ballpark figure for a round trip corporate jet flight between Detroit, Michigan, and Washington." That's compared to a $900 first class round trip from Detroit to Washington.

As they say, "Caesar's wife must be above suspicion" - especially when one goes to congress asking for a multibillion-dollar loan... (Picture: Carscoop)

Automaker's Statements:

Ford Motor Company

"Ford welcomes the opportunity to provide our plan to Congress. We have a great plan that will continue Ford's transformation into a lean, profitable company that delivers the safe, fuel-efficient, high-quality new products that our customers want and value."

Chrysler LLC

"Chrysler LLC appreciated the opportunity to appear before Congress the past two days and looks forward to reviewing its plan in detail, in the near future. The Company is prepared to meet the "accountability and viability" criteria laid out today and is ready to provide its plans for returning Chrysler to profitability, as we move beyond this unprecedented financial crisis. Chrysler is changing and will continue to change."

General Motors

"We will continue to work vigorously with the Congress and the administration during the next few weeks to address their concerns and to arrive at a solution that provides immediate aid to the auto industry."