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Main > Car Makers News > GM > GM lobbies Congress to avoid tax | detnews.com | The Detroit News WASHINGTON -- General Motors Corp. is quietly lobbying Congress to help the automaker avoid a multibillion-dollar tax bill the company faces as part of its $13.4 billion loan agreement with the federal government. The Detroit automaker has been urging members of Congress to add a provision to the $819 billion economic stimulus bill to eliminate the tax liability, which officials said could cost GM as much as $7 billion, and jeopardize the company's restructuring. GM circulated a proposed fix to... Full article... Article added: 2009-01-30 07:07:51 Article Views Rating: 197 Main > Car Makers News > Aston Martin > Aston Martin returning to LMP1 in 2009 While the economic downturn has seen many car makers ceasing their involvement in many motorsport activities, Aston Martin has defied global trends by announcing a return to the Le Mans Prototype 1 category.Commemorating the 50th Anniversary of its outright win at Le Mans, Aston Martin will race two Works LMP1 cars bearing the iconic blue and orange livery of Gulf Oil. Honouring the legendary achievements of the 1959 DBR1 driving team of Carroll Shelby and Roy Salvadori, Aston Martin aims to return the... Full article... Article added: 2009-01-29 11:14:21 Article Views Rating: 354 Main > Car Makers News > Cadillac > Cadillac Is Not Coming to Australia Yet Although the launch of the Cadillac CTS production in Australia was highly expected, General Motors announced about the indefinite delay due to many serious reasons. The company’s chairman thinks the automaker has invested a lot of money in the car production in Australia and the present situation in the world would not be the best influence on the right Cadillac presentation at the market. The head of GM Holden says the main reasons why the luxury car cannot be launched at the country are global... Full article... Article added: 2009-01-26 06:38:17 Article Views Rating: 236 Main > Car Makers News > Other > Auto Tuning: SMS 570 Challenger If you’ve ever dreamt about a purple sport car, this is the time to get one! Steve Saleen’s SMS Signature Series is launching the production of SMS 570 and 570X Challengers which will be sold for $60,000 and $70,000 respectively.The purple car is based on standard version of 2009 Dodge Challenger R/T. It will have 5.7-liter Hemi V8 from Chrysler with the special supercharger that holds “Saleen patent”. The engine will output 500 horsepower for 570 Challenger and 700 hp for 570X... Full article... Article added: 2009-01-26 06:38:17 Article Views Rating: 305 Main > Car Makers News > Other > Detroit auto show's electric promises belie internal combustion reality | detnews.com | The Detroit News Listening, watching and reading the international media's reporting on the Detroit car show, you could be forgiven for thinking that we will soon all be zipping around noiselessly in environmentally neutral electric cars. Ford said it will have battery-powered vans in 2010 and an electric Ford Focus-size sedan in 2011. Mercedes Smart already has a battery-powered little city runabout. BMW's electric Mini, being evaluated on the road by prospective customers mainly in California, is said to achieve 150... Full article... Article added: 2009-01-26 06:38:15 Article Views Rating: 153 Main > Car Makers News > Chrysler > Gettelfinger: Deadline for GM, Chrysler restructuring plans may be unattainable | detnews.com | The Detroit News WASHINGTON -- United Auto Workers President Ron Gettelfinger said Monday that a Feb. 17 deadline for General Motors Corp. and Chrysler LLC to complete restructuring plans may be "unattainable." Last month, the U.S. Treasury Department agreed to loan the two cash-strapped automakers up to $17.4 billion to keep them afloat, contingent on the companies' filing detailed restructuring plans by Feb. 17 that include sacrifices from the UAW and bondholders, among others "Honestly, most people that have looked... Full article... Article added: 2009-01-20 11:04:53 Article Views Rating: 184 Main > Car Makers News > Other > Big 3 stay out of inaugural limelight | detnews.com | The Detroit News WASHINGTON -- Detroit's Big Three automakers are all but invisible at this year's presidential inauguration -- canceling receptions, not sponsoring balls and leaving most executives at home. That's a far cry from past inaugurations when the companies were major event sponsors. In 2005, Ford Motor Co. donated $250,000 to George W. Bush's inaugural committee, and the Dearborn automaker, General Motors Corp. and then-DaimlerChrysler AG each sponsored a reception at upscale venues that were attended by the... Full article... Article added: 2009-01-20 11:04:52 Article Views Rating: 165 Main > Car Makers News > Other > UAW: Auto plans need more time | detnews.com | The Detroit News WASHINGTON -- United Auto Workers President Ron Gettelfinger said Monday that a Feb. 17 deadline for General Motors Corp. and Chrysler LLC to complete restructuring plans may be "unattainable." Last month, the U.S. Treasury Department agreed to loan the two cash-strapped automakers up to $17.4 billion to keep them afloat, but the money is contingent on the companies' filing detailed restructuring plans that include sacrifices from key stakeholders, including the UAW and bondholders, among others... Full article... Article added: 2009-01-20 11:04:50 Article Views Rating: 155 Main > Car Makers News > BMW > 2009 BMW M3 ALMS Race Car BMW presented the racing version of the new BMW M3 at the Chicago Auto Show. Powered by a 485 bhp eight cylinder engine, this impressive race car has been designed to compete in the American Le Mans Series ALMS beginning in 2009. The car is based on the fourth generation of the BMW M3, the high-performance sports car produced by BMW M GmbH.BMW Motorsport Director Mario Theissen says: "With the sporting genes of the production BMW M3 being clearly evident, developing a racing version of the car was... Full article... Article added: 2009-01-20 07:36:06 Article Views Rating: 720 Main > Car Makers News > Chrysler > Chrysler Financial gets $1.5B | detnews.com | The Detroit News Chrysler LLC's financial arm won a $1.5 billion loan from the U.S. Treasury Department Friday, money that should help the automaker boost sales by making it easier for consumers to finance new cars and trucks. Chrysler Financial LLC got the first $100 million on Friday and became the latest automotive company to receive money from the $700 billion Wall Street rescue fund. Chrysler responded by unveiling a new incentive program to get customers into showrooms. The offer, effective immediately, includes... Full article... Article added: 2009-01-19 14:47:00 Article Views Rating: 208 |
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