Government & Policy | autoinsane

GM to provide cash advances to dealers for CARS rebates

Published August 20, 2009 by Zane Merva

This morning General Motors announced it would be providing cash advances to dealers equal to the amounts they are currently owed under the government run CARS rebate program. The advances will allow dealers to stay in business until the rebates are processed.

Cash for clunkers engines get blown up on YouTube

Published August 3, 2009 by Zane Merva

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It’s enough to make a grown car guy cry. The “dirty side” of the Cash for Clunkers program, videos showing the permanent disabling of engines in vehicles traded in under the government plan have started to flood YouTube. While spectacular to watch, many of the videos are getting an angry response.

The “new” GM launches today

Published July 10, 2009 by Zane Merva

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The new General Motors Company began operations today with a new corporate structure, a stronger balance sheet, and a renewed commitment to make the customer the center of everything the new GM does.

City of Toledo, Ohio issues parking tickets to drivers parked in their own driveways

Published June 16, 2009 by Zane Merva

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Toledo, Ohio Mayor Carty Finkbeiner, who is already up for a recall vote, defended the ticketing of several cars over the past week who were parked in their owners driveway. How can they do that? They just found an old law prohibiting drivers from parking on “unpaved” surfaces.. and technically gravel is unpaved.

Fiat/Chrysler deal clears hurdles

Published June 11, 2009 by Zane Merva

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Chrysler Group LLC and Fiat Group announced today that they have finalized their previously announced global strategic alliance, forming a “new” Chrysler that has the resources, technology and worldwide distribution network required to compete effectively on a global scale. The new Chrysler will begin operations immediately.

Full list of GM plant closures – 14 facilities affected – Michigan/Ohio bear brunt

Published June 1, 2009 by Zane Merva

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Full list of GM plant closures – 14 facilities affected – Michigan/Ohio bear brunt

General Motors Corp. (NYSE: GM) today announced details of its accelerated manufacturing plan to improve capacity utilization and flexibility for the New GM. GM also reaffirmed it will build a small car at one of its U.S. assembly plants on standby capacity status.

US/Canadian Governments provide fast track to competitive future for “New GM”

Published June 1, 2009 by Zane Merva

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Pending approvals, the New GM is expected to launch in about 60 to 90 days as a separate and independent company from the current GM (“GM”), with two distinct advantages: it will be built from only GM’s best brands and operations, and it will be supported by a stronger balance sheet due to a significantly lower debt burden and operating cost structure than before.

Uncertainty becomes reality as GM officially files for bankruptcy

Published June 1, 2009 by Zane Merva

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General Motors, often thought of as the cornerstone of US economy and pride of the free market, filed for bankruptcy protection this morning at 8am in New York City.

Watch the General Motors bankruptcy press conference live at 12:15pm

Published June 1, 2009 by Zane Merva

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Today at 12:15pm General Motor’s President Fritz Henderson will be holding a press conference to announce that the century-old automaker will file for US Government backed bankruptcy protection. We have the live stream for you to watch.

GM Q1 revenue drops 47% while company hemorrhages market share/cash

Published May 7, 2009 by Zane Merva

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General Motors released 2009 quarter one financial results this morning and despite being better than analysts expected- the downward slide continues. The company is reporting a quarterly loss of $6-billion amid sliding market share and a revenue stream that is only running at a trickle.