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CARMAKERS NEWS * USA
* Michigan - GM buys back $5.5 billion in stock from the U.S. Government
Detroit,MICH,USA -The Car connection, by Richard Read -Dec 19, 2012: -- General Motors has announced plans to buy back some of its stock from the U.S. Department of the Treasury, reducing the federal government's stake in the automaker by 40%... In a press release, GM says that it will purchase 200 million shares of common stock from the Treasury -- a significant chunk of the 500 million shares that the feds currently own. GM will pay a total of $5.5 billion for the stock, which works out to $27.50 per share, or nearly 8% more than yesterday's closing price of $25.49. The purchase is expected to be finalized by December 31...
* Michigan - GM reveals redesigned GMC Sierra and Chevrolet Silverado pickup trucks
Detroit,MICH,USA -Fleet Owner -Dec. 14, 2012: -- General Motors rolled out its newly redesigned Chevrolet Silverado 1500 and GMC Sierra 1500 light-duty pickup trucks here yesterday... While the two new trucks are arguably more differentiated from each other in looks than their predecessor models, both the 2014 Sierra and Silverado boast a new family of fuel-efficient yet powerful EcoTec3 gasoline engines as well as dramatically styled exteriors and cabs described as quieter as well as more comfortable and functional... A key distinguishing feature of both the Sierra and Silverado 1500 models are the trio of EcoTec3 engines—V6 4.3-liter, V6 5.3-liter and V8 6.2-liter...
* Michigan - GM teases new Cadillac ELR plug-in electric coupe
Detroit,MICH,USA -The Detroit News, by Melissa Burden -December 18, 2012: -- General Motors Co. is teasing its new Cadillac ELR plug-in electric luxury coupe that will be unveiled next month at the North American International Auto Show... An image of the extended-range electric ELR was distributed Tuesday, which included text that read "its confidently sculpted lines are as dramatic as the technology they conceal — a state-of-the-art electric propulsion system featuring a ranging-extending, gas-powered generator"...
* Indiana - Chrysler considers plants, production boost
Kokomo,IND,USA -Associated Press/The Detroit News -December 18, 2012: -- Chrysler Group is planning to potentially add 400 jobs at three existing central Indiana factories while also starting up a new plant nearby with perhaps 850 workers... The Kokomo City Council voted Monday night to approve property tax breaks requested by Chrysler for $212 million in new equipment for its factories in the city. Tipton County officials also endorsed a similar request on Chrysler's $162 million plans to complete a vacant factory along U.S. 31...
* Kansas - GM idling plant until January to reduce Malibu inventory
Kansas City,KAN,USA -The Detroit News, by Melissa Burden -December 17, 2012: -- General Motors Co. is idling its Fairfax Assembly Plant in Kansas City, Kan., for all of December and into early January to help trim inventories of the Chevrolet Malibu, a union official said Monday... Automotive News earlier Monday reported the Fairfax plant was not producing vehicles last week and this week, in addition to traditional holiday downtime... The plant employs about 3,500 hourly workers who build the Malibu and the Buick LaCrosse sedans. A note on UAW Local 31's website says the plant will not run Jan. 2-4 and most workers will return Jan. 7...
- AUTOS RECALLS -
* USA - Honda Recalls 807,000 Minivans, SUVs in U.S. for rollaway problem
Torrance,CA,USA -The Car Connection, by Suzanne Kane -Dec 13, 2012: -- Honda is certain recalling 2003 and 2004 model year Odyssey minivans and Pilot SUVs and Acura MDX SUVs from the 2003 through 2006 model years for an ignition interlock issue that may lead to a vehicle rollaway when the keys are removed... A notice on the National Highway Traffic Safety Administration (NHTSA) website puts the number of vehicles potentially affected in the U.S. at 807,161. The number includes approximately 318,000 Honda Odysseys, 259,000 Honda Pilots and 230,000 Acura MDX SUVs. Affected vehicles were built from November 26, 2001 through August 30, 2006...
* Michigan - 2013 Dodge Durango recalled for incorrect seating capacity labels
Labels: carmakers news USA and Canada
posted by Unknown @ 6:45 AM
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